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Acc/545 Wk 5 Los Lobos Essay

491 words - 2 pages

Los Lobos Los Lobos
Balance Sheet Balance Sheet
For Year Ending December 31, 2007 For Year Ending December 31, 2006

December 31, 2007 December 31, 2006
Assets Assets
Current Assets Current Assets
Cash 35,000 Cash 32,000
Accounts Receiveable 33,000 Accounts Receiveable 30,000
Less: Allowance for doubtful accounts 1,300 31,700 Less: Allowance for doubtful accounts 1,100 28,900
Inventory 31,000 ...view middle of the document...

Depreciation (16,500) (15,000) (1,500)
Total Assets 181,200 187,900

Liabilities and Equity

Current Liabilities
Accounts Payable - Trade 25,000 15,500 9,500
Income Taxes Payable 21,000 29,100 (8,100)
Deferred Income Tax Payable 5,300 4,600 700
8% Callable Bonds Payable 12,000 - 12,000
8% Callable Bonds Payable 33,000 20,000 13,000
...

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