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I have a fake company that sells hand sanitizer. I need to prepare these spreadsheets of three years of operations (2017 2019), with a made
I have a fake company that sells hand sanitizer. I need to prepare these spreadsheets of three years of operations (2017 2019), with a made up amount of money.
Balance sheet & Income statement in the format of the photos below.
Balance Sheet Business Name: Date: ASSETS LIABILITIES Current Assets Cash Petty Cash Accounts Receivable Inventory Short-Term Investments Prepaid Expenses Current Liabilities Accounts Payable Notes Payable Interest Payable Long-Term Investments LA Taxes Payable Federal Income Tax Self-Employment Tax State Income Tax Sales Tax Accrual Property Tax A A A A A Fixed Assets Land (valued at cost) $ Payroll Accrual $ Buildings 1. Cost 2. Less Acc. Depr. Long-Term Liabilities Notes Payable $ $ Improvements 1. Cost 2. Less Acc. Depr. TOTAL LIABILITIES $ Equipment 1. Cost 2. Less Acc. Depr. NET WORTH (EQUITY) $ $ Furniture 1. Cost 2. Less Acc. Depr. Proprietorship or Partnership name name % Equity _% Equity $ $ $ or Autos/Vehicles 1. Cost 2. Less Acc. Depr. Corporation Capital Stock Surplus Paid In Retained Earnings Other Assets 1. 2. TOTAL NET WORTH $ Assets - Liabilities = Net Worth and Liabilities + Equity = Total Assets TOTAL ASSETS $ Profit & Loss (Income) Statement Business Name: Beginning: Ending: $ INCOME 1. Sales Revenues 2. Cost of Goods Sold (c-d) a. Beginning Inventory (1/01) b. Purchases C. C.O.G. Avail. Sale (a+b) d. Less Ending Inventory (12/31) 3. Gross Profit on Sales (1-2) $ EXPENSES 1. Variable (selling) (a thru h) a. b C. d. e. f. g. Misc. Variable (Selling) Expense h. Depreciation (Prod/Serv Assets) 2. Fixed (Administrative) (a thru h) a. b. C. d. e. f g. Misc. Fixed (Administrative) Expense h. Depreciation (Office Equipment) Total Operating Expenses (1+2) $ $ Net Income from Operations (GP-Exp) Other Income (Interest Income) Other Expense (Interest Expense) Net Profit (Loss) Before Taxes Taxes a. Federal b. State c. Local NET PROFIT (LOSS) AFTER TAXES Balance Sheet Business Name: Date: ASSETS LIABILITIES Current Assets Cash Petty Cash Accounts Receivable Inventory Short-Term Investments Prepaid Expenses Current Liabilities Accounts Payable Notes Payable Interest Payable Long-Term Investments LA Taxes Payable Federal Income Tax Self-Employment Tax State Income Tax Sales Tax Accrual Property Tax A A A A A Fixed Assets Land (valued at cost) $ Payroll Accrual $ Buildings 1. Cost 2. Less Acc. Depr. Long-Term Liabilities Notes Payable $ $ Improvements 1. Cost 2. Less Acc. Depr. TOTAL LIABILITIES $ Equipment 1. Cost 2. Less Acc. Depr. NET WORTH (EQUITY) $ $ Furniture 1. Cost 2. Less Acc. Depr. Proprietorship or Partnership name name % Equity _% Equity $ $ $ or Autos/Vehicles 1. Cost 2. Less Acc. Depr. Corporation Capital Stock Surplus Paid In Retained Earnings Other Assets 1. 2. TOTAL NET WORTH $ Assets - Liabilities = Net Worth and Liabilities + Equity = Total Assets TOTAL ASSETS $ Profit & Loss (Income) Statement Business Name: Beginning: Ending: $ INCOME 1. Sales Revenues 2. Cost of Goods Sold (c-d) a. Beginning Inventory (1/01) b. Purchases C. C.O.G. Avail. Sale (a+b) d. Less Ending Inventory (12/31) 3. Gross Profit on Sales (1-2) $ EXPENSES 1. Variable (selling) (a thru h) a. b C. d. e. f. g. Misc. Variable (Selling) Expense h. Depreciation (Prod/Serv Assets) 2. Fixed (Administrative) (a thru h) a. b. C. d. e. f g. Misc. Fixed (Administrative) Expense h. Depreciation (Office Equipment) Total Operating Expenses (1+2) $ $ Net Income from Operations (GP-Exp) Other Income (Interest Income) Other Expense (Interest Expense) Net Profit (Loss) Before Taxes Taxes a. Federal b. State c. Local NET PROFIT (LOSS) AFTER TAXESStep by Step Solution
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