Berrys Bug Blaster

Topics: Generally Accepted Accounting Principles, Balance sheet, Liability Pages: 3 (261 words) Published: June 30, 2013
Income Statement
1/1/2008 - 12/31/2008
 |
Revenue|  |  | $3,249,580.53|
 |
Direct Expenses|  |  |  |
Salaries & Wages| $487,437.08|  |  |
Vehicle Maintenance| $64,991.61|  |  |
Fuel| $20,449.80|  |  |
Traps & Chemicals| $1,378,203.63|  |  |
 | $1,951,082.12| $1,951,082.12|  |
 |
Indirect Expenses|  |  |  |
Rent| $39,338.17|  |  |
Licenses| $2,480.00|  |  |
Insurance| $103,613.43|  |  |
Administrative Salaries| $150,250.00|  |  |
Commissions| $16,991.61|  |  |
Payroll Taxes| $72,014.66|  |  |
Legal Expenses| $12,000.00|  |  |
Accounting Fees| $7,000.00|  |  |
Office Supplies| $7,800.00|  |  |
Utilities| $10,806.40|  |  |
Advertising Expenses| $116,000.00|  |  |
Bad Debts| $122,138.64|  |  |
Depreciation Expense| $94,925.75|  |  |
Misc. Expense| $50,000.00|  |  |
 | $805,358.66| $805,358.66|  |
Total Expenses|  | $2,756,440.78| $2,756,440.78|
 |
Net Income|  |  | $493,139.75|
 |

Balance Sheet
12/31/2008
 |
 |
Current Assets|  |  |
Cash| $818,440.68|  |
Accounts Receivable| $812,395.13|  |
Inventory| $205,934.30|  |
Total Current Assets| $1,836,770.12|  |
 |
Fixed Assets|  |  |
Vehicles| $268,750.00|  |
Tools| $110,953.00|  |
Less Accumulated Depreciation| ($284,431.95)|  |
Total Fixed Assets| $95,271.05|  |
 |
Total Assets|  | $1,932,041.17|
 |
 |
Liabilities|  |  |
 |
Current Liabilities|  |  |
Accrued Payroll Taxes| $36,007.33|  |
Accounts Payable| $270,798.38|  |
Total Current Liabilities| $306,805.71|  |
 |
Long-Term Liabilities| $0.00|  |
 |
Total Liabilites| $306,805.71|  |
 |
 |
Stockholders Equity|  |  |
Common Stock
(1,000,000 authorized shares at $1 par)| $70,000.00|  |
Retained Earnings| $1,062,095.71|  |
Net Income| $493,139.75|  |...
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