| PROBLEM 10-28 |
| Pat Dinneen |
| TEMPLATE |
| (Statement of Financial Position) |
| | HELP |
| | Statement of Financial Position |
| | as of the End of the Fiscal Year |
| | Assets |
| | Current assets |
| | Cash | $100,000 |
| | Accounts Receivable | 185,000 |
| | Supplies | 32,000 |
| | Total current assets | $317,000 |
| | Long-term assets |
| | Furniture | 70,000 |
| | Total long-term assets | $70,000 |
| | Total Assets | $387,000 |
| | Liabilities & Net Assets |
| | Liabilities |
| | Short-term liabilities |
| | Accounts payable | ($25,000) |
| | Wages payable | 70,000 |
| | Total short-term liabilities | $45,000 |
| | Total Liabilities | $45,000 |
| | Net assets |
| | Unrestricted | $125,000 |
| | Temporarily restricted | 50,000 |
| | Permanently restricted | 167,000 |
| | Total net assets | $342,000 |
| | Liabilities and Net Assets | $387,000 |
Nikku
problem_10-28.xls
