Deliverable 5 - Financial Information
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Module5AssessmentSampleBalanceSheetandIncomeStatement.docxBALANCE SHEET
Larry’s Lawn Service Balance Sheet
December 31, 20__
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ASSETS |
LIABILITIES |
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Cash on hand: $1,000.00 |
Credit Card Balance Due: $2,300.00 |
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Business Vehicle Owned: $10,000.00 |
Business Loan Payable: 4, 000.00 |
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Accounts Receivable $5,000.00 |
Building Mortgage: 50,000.00 |
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Building Value: $75,000.00 |
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|
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Total Liabilities: $56,300.00
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|
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Stockholders' Equity: $34,700.00
|
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Total Assets: $91,000.00 |
Total Liabilities and Stockholders' Equity: $91,000.00 |
Below are examples of accounts that could appear in each section of the balance sheet.
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Assets |
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Liabilities |
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Shareholder Equity |
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Cash Accounts Receivable Buildings Land Equipment |
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Salaries Payable Loans Payable Accounts Payable Interest Payable Wages Payable |
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Preferred Stock Common Stock Retained Earnings |
Sample Income Statement
Happy Beginnings Day Care
Income Statement
For the month ended December 31, 20__
Revenue:
Service Revenue $ 105,000
Sales 20,400
Commissions Earned 15,600
Total Revenue $ 141,000
Expenses:
Wages and Salaries $ 70,000
Rent 5,600
Utilities 2,500
Advertising 2,200
Miscellaneous 3,500
Total Expenses $83,800
Net Income $57,200
Examples of Revenue Examples of Expenses
Service Revenue Rent Expense
Sales Utility Expense
Commissions Earned Wages and Salary Expense
Advertising Expense
Repair Expense
Miscellaneous Expense
