Docstoc

financial statements

Document Sample
financial statements Powered By Docstoc
					Account Name                          Account No. Balance
Cash-Petty Cash                               1010     449.87
Checking Account                              1110    2412.23
Investment Account                            1115 327283.53
Accounts Receivable                           1210  16586.25
Prepaid Expenses                              1420     2587.5
Prepaid Insurance                             1425       1000
Inventory Asset                               1310  46005.75
Property and Equipment                        1510      65000
Accum. Depr.Property and Equipment            1511      -6750
Office/Store Furniture and Fixtures           1520      12000
Accum. Depr. Furniture and Fixtures           1521      -9525
Accounts Payable                              2010 -15502.62
Pending Item Receipts                         2015    -846.59
Sales Tax Payable                             2110 -11426.42
Federal Tax Liability                         2210    -1517.3
Federal Tax Liability (FUTA)                  2215        -145
State Tax Liability                           2220        -740
401 (k) Liability                             2230      -2000
Union Dues Liability                          2240         -85
Medical/Dental Liability                      2250        -990
Other Payables                                2310        -500
Interest Payable                              2315      -2000
Visa Credit Card                              2610        -300
Note Payable to Bank                          2710     -20000
Common Stock                                  3015      -1000
APIC                                          3016     -36000
Owners' Withdrawals                           3020      12000
Retained Earnings                             3025 -76484.48
Sales                                         4010 -1198874
Cash Discount Given                           4020     3414.9
Write off                                     4210        8.83
Cost of Goods - Materials                     4510 870946.22
Cash Discount Taken                           4530    -770.39
Employee Wages                                5100       2800
Wages                                         5110       5400
Employee Benefits                             5120         250
Bank Charges                                  5510          25
Repairs and Maintenance Expenses              5710       47.63
Depreciation Expenses/Equipment               6120       1750
Depreciation Expenses/Furniture               6125         525
Office Supplies                               6210     103.47
Insurance Vehicle                             6310    2781.72
Insurance Other                               6320         200
Freight/Shipping Expenses                     6410     292.67
Accounting Fees                               6620    6615.54
Other Expenses                                6760         240
Travel Expenses                6770       -400
Utilities - Electric and Gas   6810    1609.56
Utilities - Telephone          6815    1147.41
Leased Facilities              6915      6500
Finance Charge Income          8020      -8.35
Interest Income                8030   -5387.03
Interest Expenses              9010    1269.08
Class
Cash
Cash
Marketable Securities
Accounts Receivable
Prepaid and Other
Prepaid and Other
Inventory
Property and Equipment
Accumulated Depreciation
Property and Equipment
Accumulated Depreciation
Accounts Payable
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Accrued Expenses
Long Term Debt
Common Stock
Additional Paid in Capital
Dividends
Beginning Retained Earnings
Revenue
Revenue
Revenue
Cost of Goods Sold
Cost of Goods Sold
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Overhead
Interest Income
Interest Expense
                            Balance Sheet

                                Assets
Cash                                         $     2,862.10
Marketable Securities                            327,283.53
Accounts Receivable                               16,586.25    17,282.56
Inventory                                         46,005.75    39,248.45
Prepaid and Other                                  3,587.50
Total Current Assets                         $   396,325.13

Property and Equipment                       $    77,000.00
Accumulated Depreciation                          16,275.00
Net PP&E                                     $    60,725.00

Total Assets                                 $   457,050.13   482,365.00


                               Liabilities
Accounts Payable                             $    15,502.62
Accrued Expenses                                  20,550.31
Total Current Liabilities                    $    36,052.93

Long Term Debt                               $    20,000.00

                                Equity
Common Stock                                 $     1,000.00     1,000.00
Additional Paid in Capital                        36,000.00    36,000.00
Retained Earnings                                363,997.20

Total Liabilities and Equity                 $   457,050.13
                     Income Statement
            with Statement of Retained Earnings

Revenue                              $       1,195,450.25
Cost of Goods Sold                             870,175.83
Gross Margin                         $         325,274.42

Overhead                                           29,879.65
Net Ordinary Income (Loss)           $            295,394.77

Interest Expense                                    1,269.08
Interest Income                                     5,387.03
Net Income (Loss)                    $            299,512.72

Beginning Retained Earnings          $             76,484.48
Net Income (Loss)                                 299,512.72
Dividends                                         (12,000.00)
Ending Retained Earnings             $            363,997.20
                               Balance Sheet

                                  Assets
Cash                                $            2,862.10     0.63%
Marketable Securities                          327,283.53    71.61%
Accounts Receivable                             16,586.25     3.63%
Inventory                                       46,005.75    10.07%
Prepaid and Other                                3,587.50     0.78%
Total Current Assets                $          396,325.13    86.71%

Property and Equipment              $           77,000.00    16.85%
Accumulated Depreciation                        16,275.00     3.56%
Net PP&E                            $           60,725.00    13.29%

Total Assets                        $          457,050.13   100.00%


                                 Liabilities
Accounts Payable                    $           15,502.62     3.39%
Accrued Expenses                                20,550.31     4.50%
Total Current Liabilities           $           36,052.93     7.89%

Long Term Debt                      $           20,000.00     4.38%

                                  Equity
Common Stock                        $            1,000.00     0.22%
Additional Paid in Capital                      36,000.00     7.88%
Retained Earnings                              363,997.20    79.64%

Total Liabilities and Equity        $          457,050.13   100.00%

                                    Balanced
                     Income Statement
Revenue                       $ 1,195,450.25   100.00%
Cost of Goods Sold                870,175.83    72.79%
Gross Margin                  $ 325,274.42      27.21%

Overhead                           29,879.65     2.50%
Net Ordinary Income (Loss)    $   295,394.77    24.71%

Interest Expense                    1,269.08     0.11%
Interest Income                     5,387.03     0.45%
Net Income (Loss)             $   299,512.72    25.05%

Beginning Retained Earnings   $    76,484.48
Net Income (Loss)                 299,512.72
Distributions                            -
Ending Retained Earnings      $   375,997.20
                      Liquidity
Current Assets                    396,325.13
Current Liabilities                36,052.93
Net Working Capital               360,272.20
Current Ratio                        10.99:1
Quick Ratio                           9.16:1

                      Asset Use
Accounts receivable turnover           70.59
Average collection period               5.17
Inventory turnover                     20.41
Average age of inventory               17.88
Operating Cycle                        23.05

                      Solvency
Debt ratio                           8.15:1
Debt-to-Equity                       0.14:1
Times Interest Earned                237.01

                 Profitability
Gross Profit Margin                  27.21%
Net Profit Margin                    25.05%
Return on Assets                     63.77%
Return on Equity                    116.43%

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:0
posted:5/17/2012
language:
pages:9
fanzhongqing fanzhongqing http://
About