Comparative Balance Shee
Contemporary Wood Furniture
December 31, 2010 and 2011
1) Assets
Current assets:
Cash
Accounts receivable
Inventory
Plant and equipment

Total assets

Liabilities and owner's equity

Current liabilities:
Accounts payable
Wages payable
Property and taxes payable
Total current liabilities

Long-term liabilities:
Total long-term liabilities
Total liabilities
Owner's equity:
Total owner's equity

Total liabilities and owner's equity

mparative Balance Sheet
Contemporary Wood Furniture
December 31, 2010 and 2011
2011

$

1,844.00
11,807.00
9,628.00
158,700.00
181,979.00

2010

$

3,278.00
6,954.00
17,417.00
144,500.00
172,149.00

$

13,446.00
650.00
4,124.00
18,220.00

$

9,250.00
1,110.00
3,650.00
14,010.00

$
$

92,800.00
111,020.00

$
$

75,800.00
89,810.00

$

70,959.00

$

82,339.00

$

181,979.00

$

172,149.00

Assets
6.36
ACID TEST RATIO 0.26
CURRENT RATIO
4000
85,000.00
15,000.00
6,000.00
120,000.00
15,000.00

Cash
Cost of goods sold
Merchandise inventory
Accounts Receivable
Net sales
Equipment

$
$
$
$
$

Total Current Assets

$ 245,000.00

Liabilities
Depreciation
Rent expense
Utilities
Accounts payable
Wages payable
Miscellaneous expenses
Insurance payable
Wages

$
$
$
$
$
$
$
$

2,000.00
15,000.00
6,500.00
3,500.00
1,500.00
1,500.00
500.00
8,000.00

Total Liabilities

$

38,500.00

Carlton, Equity

$

34,500.00

Total Owner equity

$

34,500.00

Owner's equity