2018 2018 113,000 a. 39,000 a. b. d e f. As of: December 31, 2018 ASSETS CURRENT ASSETS Cash Savings & short-term deposits Marketable securities (at market) Accounts receivable Inventories: Supplies and other Raw Inputs Intermediate goods Completed Goods Cash investment in work-in-progress Prepaid expenses Other current assets - business Other current assets - personal TOTAL CURRENT ASSETS LIABILITIES AND OWNER EQUITY CURRENT LIABILITIES Accounts payable Notes payable within 1 year Current portion of all term debt Accrued interest Accrued expenses Accrued taxes Accrued business expenses Other accrued items Current portion-deferred taxes Other current liabilities - business Other current liabilities - personal Note 113,000 Curre 175,000 Nond 32,000 618,000 15,000 14.000 9,000 20,500 g. h. i 27,000 Cash on hand and in checking account Market value of all equipment 12017 Income taxes paid in 2018 Cash operating expenses paid in 2018 Principal portion of 15-year loan due in 2019 Principal paid on 15-year loan during 2018 Inventories: Supplies Insurance premiums for 2019 paid in Dec. 2018 Investment in local brewery made in 2016 for $50,000, estimated market value of $70,000 as of 12/31/18 Change in accounts payable during 2018 Inventories: Completed goods Principal balance on operating (short-term) loan Accrued interest on 15-year note Accrued interest on operating (short-term) loan Rent for January 2019, paid in Dec. 2018 Accumulated depreciation on equipment Accrued income, social security, and payroll taxes 2019 liquor license fees, paid in Dec. 2018 Original cost of all equipment owned Legal/accountancy services used in 2018, bill not yet received Accounts payable Total principal balance on 15-year loan Mutual funds valued at $83,000 as of 12/31/18, book value of $70,000 Capital originally contributed by owner(s) 140,000 TOTAL CURRENT LIABILITIES j. k. 1. m. n. 0. P 9. r. S ti 39,000 ??? 1,500 27,000 16,000 9,000 1,000 5,000 110,000 21,000 4,000 295,000 3,000 39,000 180,000 ??? 100,000 Equit NONCURRENT ASSETS Intermediate assets (at market) Machinery & equipment (at market) 175,000 b. Investments in capital leased assets Investments in cooperatives Investments in other business entities NONCURRENT LIABILITIES Noncurrent portion of term business debt: Non-real estate debt: Notes with original maturity less than 10 years Notes with original maturity greater than 10 years Real estate debt: Notes with original maturity less than 10 years Notes with original maturity greater than 10 years Noncurrent portion-deferred taxes Other noncurrent liabilities - business Other noncurrent liabilities - personal u. V. w X. Other: Business real estate (at market) Land Buildings Federal tax rate Self-employment tax rate State tax rate 25% 15.30% 5% TOTAL NONCURRENT LIABILITIES 0 Other noncurrent assets -business (at market) Other noncurrent assets-personal (at market) TOTAL NONCURRENT ASSETS 175,000 TOTAL LIABILITIES 39,000 100,000 X. OWNER EQUITY Contributed capital Retained earnings Valuation equity TOTAL OWNER EQUITY TOTAL LIABILITIES & OWNER EQUITY TOTAL ASSETS 276.000 315,000 315,000 NOTEC to remnany Financial Statemente: 2018 2018 113,000 a. 39,000 a. b. d e f. As of: December 31, 2018 ASSETS CURRENT ASSETS Cash Savings & short-term deposits Marketable securities (at market) Accounts receivable Inventories: Supplies and other Raw Inputs Intermediate goods Completed Goods Cash investment in work-in-progress Prepaid expenses Other current assets - business Other current assets - personal TOTAL CURRENT ASSETS LIABILITIES AND OWNER EQUITY CURRENT LIABILITIES Accounts payable Notes payable within 1 year Current portion of all term debt Accrued interest Accrued expenses Accrued taxes Accrued business expenses Other accrued items Current portion-deferred taxes Other current liabilities - business Other current liabilities - personal Note 113,000 Curre 175,000 Nond 32,000 618,000 15,000 14.000 9,000 20,500 g. h. i 27,000 Cash on hand and in checking account Market value of all equipment 12017 Income taxes paid in 2018 Cash operating expenses paid in 2018 Principal portion of 15-year loan due in 2019 Principal paid on 15-year loan during 2018 Inventories: Supplies Insurance premiums for 2019 paid in Dec. 2018 Investment in local brewery made in 2016 for $50,000, estimated market value of $70,000 as of 12/31/18 Change in accounts payable during 2018 Inventories: Completed goods Principal balance on operating (short-term) loan Accrued interest on 15-year note Accrued interest on operating (short-term) loan Rent for January 2019, paid in Dec. 2018 Accumulated depreciation on equipment Accrued income, social security, and payroll taxes 2019 liquor license fees, paid in Dec. 2018 Original cost of all equipment owned Legal/accountancy services used in 2018, bill not yet received Accounts payable Total principal balance on 15-year loan Mutual funds valued at $83,000 as of 12/31/18, book value of $70,000 Capital originally contributed by owner(s) 140,000 TOTAL CURRENT LIABILITIES j. k. 1. m. n. 0. P 9. r. S ti 39,000 ??? 1,500 27,000 16,000 9,000 1,000 5,000 110,000 21,000 4,000 295,000 3,000 39,000 180,000 ??? 100,000 Equit NONCURRENT ASSETS Intermediate assets (at market) Machinery & equipment (at market) 175,000 b. Investments in capital leased assets Investments in cooperatives Investments in other business entities NONCURRENT LIABILITIES Noncurrent portion of term business debt: Non-real estate debt: Notes with original maturity less than 10 years Notes with original maturity greater than 10 years Real estate debt: Notes with original maturity less than 10 years Notes with original maturity greater than 10 years Noncurrent portion-deferred taxes Other noncurrent liabilities - business Other noncurrent liabilities - personal u. V. w X. Other: Business real estate (at market) Land Buildings Federal tax rate Self-employment tax rate State tax rate 25% 15.30% 5% TOTAL NONCURRENT LIABILITIES 0 Other noncurrent assets -business (at market) Other noncurrent assets-personal (at market) TOTAL NONCURRENT ASSETS 175,000 TOTAL LIABILITIES 39,000 100,000 X. OWNER EQUITY Contributed capital Retained earnings Valuation equity TOTAL OWNER EQUITY TOTAL LIABILITIES & OWNER EQUITY TOTAL ASSETS 276.000 315,000 315,000 NOTEC to remnany Financial Statemente