HTML Preview Projected Balance Sheet Format page number 1.
As of Date
Opening Balance
Sheet
Projected
Assets As of June 1 2009 31-May-10
Current Assets
Cash in bank 250,000 $ 50,000
Accounts receivable 40,000
Inventory 100,000
Prepaid expenses -
Other current assets -
Total Current Assets
250,000 $ 190,000
Fixed Assets
Machinery and equipment $136,772
Furniture and fixtures $0
Leasehold improvements $0
Land and buildings $0
Other fixed assets $0
(LESS accumulated depreciation on
all fixed assets)
($2,000)
Total Fixed Assets (net of
depreciation)
$ - $ 134,772
Other Assets
Intangibles $0
Deposits $0
Goodwill $0
Other $0
Total Other Assets
$ - $0
TOTAL Assets
$ 250,000 $ 324,772
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable $ 67,000
Interest payable -
Taxes payable 20,000
Notes, short-term (due within 12
months)
30,000
Current part, long-term debt 20,000
Other current liabilities -
Total Current Liabilities
$ - $ 137,000
Long-Term Debt 90,000
Bank loans payable $ -
Notes payable to stockholders 200,000 200,000
LESS: Short-term portion (20,000)
Other long-term debt -
Total Long-Term Debt $ -
Total Liabilities
$ - $ 137,000
Owners' Equity
Share capital 50,000 $ 50,000
Retained earnings - beginning -
Retained earnings - current 43,886
Total Owners' Equity 50,000 $ 93,886
Total Liabilities and Equity
$ 50,000 $ 324,772
PROJECTED BALANCE SHEET
Company XYZ