IIM Company

Balance Sheet
As of December 31, 2006

Assets Libilities and Owner's Equity

Current assets: Current liabilities
$95,000
Non current assets Non current liabilities

Total liabilities $40,000

Owners' Equity
$55,000

Total assets $95,000 Total liabilities and owners' equity

d) Current ratio =current assets/current liabilities 2.2

Current assets $33,000 Current liabilities $15,000

Non current assets $55,000 Non current liabilities $-

Owners' Equity $73,000

Total assets $88,000 $88,000

e) Current ratio =current assets/current liabilities 1.4

Current assets $35,000 Current liabilities $25,000

Non current assets $60,000 Non current liabilities $-

Owners' Equity $70,000

Total assets $95,000 $95,000

 $95,000

<2, bad
 J.L. Gregory Company
Balance Sheet
As of June 30, 2006
Assets Libilities and Owner's Equity
Current assets: Current liabilities:
Cash $89,000 Accounts payable
Marketable securities $379,000 Notes payable
Accounts receivable $505,000 Tax Liability
Inventories $513,000 Accrued expenses
Total current assets $1,486,000 Total current liabilities

Non current assets Non current liabilities

Bonds payable
Property, plant, equipment
Land(at cost) $230,000
Buildings(at cost) $1,120,000
Accumulated depreciaition on building $(538,000)
Equipment(at cost) $761,000
Accumulated depreciaition on equipment $(386,000) Total liabilities

Other assets :
Investment in Peerless Company $320,000
Total non current assets $1,507,000
Owners' equity
Capital stock
Retained earnings
Total Owners' equity

Total assets $2,993,000 Total liabilities and owners' equity

es and Owner's Equity

$241,000
$200,000
$125,000
$107,000

$700,000

$1,373,000

$1,000,000
$620,000
$1,620,000

$2,993,000
 Kharmoudy Company
Balance Sheet
As of June 30, 2006

Assets Libilities and Owner's Equity

Current assets: Current liabilities:
Cash $109,600 1,2,4,7,9 Accounts payable
Marketable securities Notes payable
Accounts receivable $7,200 Transaction 6, Tax Liability
Inventories $20,800 4,5,6 Accrued expenses
Total current assets Total current liabilities

Non current assets Non current liabilities

Bonds payable
Property, plant, equipment
Land(at cost)
Buildings(at cost)
Accumulated depreciaition on building
Equipment(at cost)
Accumulated depreciaition on equipment $(8,500) 3, Total liabilities

Other assets :

Total non current assets

Owners' equity
Capital stock
Retained earnings
Dividends
Total Owners' equity

Total assets $129,100 Total liabilities and owners' equity

 lities and Owner's Equity

$9,400 5,

$25,000 2,

$34,400

$47,500 1,3,7,10
$50,200 6,10
$(3,000) 9,
$94,700

and owners' equity $129,100

 D. Carson and F. Leggat Partners
Balance Sheet
As of June 30, 2006
Assets Libilities and Owner's Equity
Current assets: Current liabilities:
Cash $72,100 Transcation 0,2,3
Accounts payable
Marketable securities Notes payable $50,000
Accounts receivable Tax Liability
Inventories $8,500 1,2 Accrued expenses
Total current assets Total current liabilities

Non current assets Non current liabilities

Bonds payable
Property, plant, equipment
Land(at cost) $25,000 4,
Buildings(at cost) $50,000 4,
Accumulated depreciaition on building
Equipment(at cost)
Accumulated depreciaition on equipment Total liabilities

Other assets :
Investment
Total non current assets Owners' equity
Carson' equity $50,000
Carson dividends $(6,200)
Total Carson's equity
Leggatt's equity $50,000
Leggatt's dividends $(3,700)
Total Legatt's dividends
Retained earnings $15,500
Total Owners' equity

Total assets $155,600 Total liabilities and owners' equity

 Nicholas Legendre
C&L 30/06/2006
ASSET LIABILITIES
wner's Equity C
Cash 22100
invest 58500

TOTAL 80600

$50,000
NC
L 25000 C EQ 51550
B 50000 L EQ 54050

75000

Loan 50000
Total Asset 155600 155600

0,
3,
$43,800
0,
3,
$46,300
2,
$105,600

$155,600
 Assets Liabilities
Current 25000 Notes payable
Inventory 50000 Capital
total 75000 total

Current

Current 25800

NC
29 20000
31 2800
MARVIN COMPANY
Balance Sheet
As of Januray 31, 2006

Assets Libilities and Owner's Equity

Current assets: Current liabilities:
Cash $13,900 Jan 1,4,11,26,29,31 Accounts payable
Marketable securities Notes payable
Accounts receivable $3,400 16, Tax Liability
Inventories $46,500 1,4,(6,8),16 Accrued expenses
Prepaid expenses $1,400 31, Total current liabilities
Total current assets
Non current assets Non current liabilities
Bonds payable
Property, plant, equipment
Land(at cost) $20,000 Jan 29
Buildings(at cost)
Accumulated depreciaition on building
Equipment(at cost)
Accumulated depreciaition on equipment Total liabilities

Other assets :
Investment Owners' equity
Total noncurrent assets Paid-in capital
Retained earnings
Total owners' equity

Total assets $85,200 Total liabilities and owners' equity

 20000
55000
75000

ties and Owner's Equity

$7,000 Jan (6,8)

$20,000 1,

$55,000 1,
$3,200 4,11,16,26

$85,200
 Maynard Company
Balance Sheet
As of June 1, 2006
Assets Libilities and Owner's Equity
Current assets: Current liabilities:
Cash $34,983 Accounts payable $8,517
Accounts receivable $21,798 Bank notes payable $8,385
Merchadise inventory $29,835 Taxes payable $5,700
Supplies on hand $5,559 Accrued wages payable $1,974
Prepaid insurance $3,150
Note receivable, Diane Maynard $11,700 Total current liabilities
Total current assets $107,025

Non current assets Non current liabilities $2,451

Property, plant, equipment
Land $89,700
Building $585,000
Accumulated depreciaition on building $(156,000)
Equipment(at cost) $13,260
Accumulated depreciaition on equipment $(5,304)
Total liabilities
Other noncurrent assets : $4,857

Total non current assets $531,513

Owners' equity
Capital stock $390,000
Retained earnings $221,511
Dividends
Total Owners' equity

Total assets $638,538 Total liabilities and owners' equity

2/ Financial conditions
June 1, 2006 June 30, 2006
1/Current ratio 4.35 2.15 June 30th is worth than June 1st
2/ Owners' equity $611,511 $619,446
 Maynard Company
Balance Sheet
As of June 1, 2006
ner's Equity Assets Libilities and Owner's Equity
Current assets: Current liabilities:
Cash $66,660 Accounts payable
Accounts receivable $26,505 Bank notes payable
Merchadise inventory $26,520 Taxes payable
Supplies on hand $6,630 Accrued wages payable
Prepaid insurance $2,826
$24,576 Note receivable, Diane Maynard $-
Total current assets $129,141 Total current liabilities

Non current assets

Non current liabilities
Property, plant, equipment
Land $89,700
Building $585,000
Accumulated depreciaition on building $(157,950)
Equipment(at cost) $36,660
Accumulated depreciaition on equipment $(5,928)
Total liabilities
Other noncurrent assets : $5,265

Total non current assets $552,747

Owners' equity
Capital stock
Retained earnings
Dividends
$611,511 Total Owners' equity

$638,538 Total assets $681,888 Total liabilities and owners' equity

ities and Owner's Equity

$21,315
$29,250
$7,224
$2,202

$59,991

$2,451

$390,000
$229,446

$619,446

$681,888