Uploaded by Maria Nekrassova

Beginning Balances 12.31.19

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Beginning Balance Sheet
As of December 31, 2019
Total
ASSETS
Current Assets
Bank Accounts
Checking 4647
Total Bank Accounts
25,000
$
25,000
Accounts Receivable
Accounts Receivable (A/R)
Total Accounts Receivable
20,500
$
20,500
Other Current Assets
Inventory Asset
Total Other Current Assets
Total Current Assets
2,896
$
2,896
$
48,396
Fixed Assets
Machinery & Equipment
Original cost
Total Machinery & Equipment
Total Fixed Assets
TOTAL ASSETS
75,000
$
75,000
$
75,000
$
123,396
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable (A/P)
Total Accounts Payable
15,000
$
15,000
Credit Cards
Credit Card 2244
Total Credit Cards
Total Current Liabilities
1,000
$
1,000
$
16,000
Long-Term Liabilities
Notes Payable 5795
Total Long-Term Liabilities
Total Liabilities
22,000
$
22,000
$
38,000
Equity
Capital
85,396
Opening Balance Equity
0
Net Income
Total Equity
TOTAL LIABILITIES AND EQUITY
$
85,396
$
123,396
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Beginning Trial Balance
As of December 31, 2019
Debit
Checking 4647
25,000
Accounts Receivable (A/R)
20,500
Inventory Asset
Credit
2,896
Machinery & Equipment:Original cost
75,000
Accounts Payable (A/P)
15,000
Credit Card 2244
1,000
Notes Payable 5795
22,000
Capital
85,396
Opening Balance Equity
TOTAL
0
$
123,396
$
123,396
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