Conlon Corporation
Balance sheet
As on 31st December
| Particulars |
$ |
$ |
| Assets |
|
|
| Current assets: |
|
|
| Cash |
2,200 |
|
| Inventory |
150,700 |
|
| Account receivables |
23,100 |
|
| Less allowance for doubtful debt |
1,100 |
|
| Net account receivables |
22,000 |
|
| Total current assets |
|
174,900 |
| Fixed assets: |
|
|
| Equipment |
292,600 |
|
| Less accumulated depreciation |
143,000 |
|
| Net equipment |
149,600 |
|
| Leasehold improvements |
154,000 |
|
| Less accumulated depreciation |
24,200 |
|
| Net leasehold improvements |
129,800 |
|
| Building |
308,000 |
|
| Less accumulated depreciation |
77,000 |
|
| Net building |
231,000 |
|
| Land |
1,240,800 |
|
| Trademark |
20,900 |
|
| Patent |
55,000 |
|
| Total fixed assets |
|
1,827,100 |
| Total assets |
|
2,002,000 |
| Liabilities and shareholder's equity |
|
|
| Current liabilities: |
|
|
| Interest payable |
26,400 |
|
| Account payable |
14,300 |
|
| Notes payable |
88,000 |
|
| Total current liabilities |
|
128,700 |
| Long term liabilities: |
|
|
| Long term note payable |
|
1,045,000 |
| Total liabilities |
|
1,173,700 |
| Shareholder's equity: |
|
|
| Retained earnings |
388,300 |
|
| Common stock |
440,000 |
|
| Total shareholder's equity |
|
828,300 |
| Total liabilities and shareholder's equity |
|
2,002,000 |
Net value of building is $149,600. $20,900 trademark is a long
term asset. $174,900 is total current assets. Canlon net account
receivables is $22,000 after deducting $1,100 allowances for
doubtful debt. $1,240,800 is the value of land of Conlon.
