Filetype Excel XLS | Posted on 10 Aug 2022 | 3 years ago
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209x Filetype XLS File size 0.19 MB Source: us.aicpa.org
Sheet 1: balance sheet
| ABC Company, LLC | ||||||||||||
| Statements of Financial Position | ||||||||||||
| As of December 31, 2013 | ||||||||||||
| FRF for SMEs | Income Tax | GAAP | ||||||||||
| CURRENT ASSETS: | ||||||||||||
| Cash | $ | 416,400 | $ | 416,400 | $ | 416,400 | ||||||
| Trade Accounts Receivable | 41,610 | 41,610 | 41,610 | |||||||||
| Inventory | 20,234 | 20,234 | 20,234 | |||||||||
| Prepaid Income Taxes | 2,300 | 2,300 | 2,300 | |||||||||
| Total Current Assets | 480,544 | 480,544 | 480,544 | |||||||||
| PROPERTY AND EQUIPMENT: | ||||||||||||
| Machinery and Equipment | 937,100 | 937,100 | 937,100 | |||||||||
| Less: Accumulated Depreciation | 199,912 | 925,672 | 199,912 | |||||||||
| Net Property and Equipment | 737,188 | 11,428 | 737,188 | |||||||||
| TOTAL ASSETS | $ | 1,217,732 | $ | 491,972 | $ | 1,217,732 | ||||||
| CURRENT LIABILITIES: | ||||||||||||
| Current Portion of Long-Term Debt | $ | 7,000 | $ | 7,000 | $ | 7,000 | ||||||
| Accounts Payable | 6,830 | 6,830 | 6,830 | |||||||||
| Credit Cards Payable | 14,007 | 14,007 | 14,007 | |||||||||
| Total Current Liabilities | 27,837 | 27,837 | 27,837 | |||||||||
| DEFFERRED TAX LIABILITY | - | - | 220,000 | |||||||||
| LONG-TERM LIABILITIES | 77,842 | 77,842 | 77,842 | |||||||||
| TOTAL LIABILITIES | 105,679 | 105,679 | 325,679 | |||||||||
| MEMBER'S EQUITY | 1,112,053 | 386,293 | 892,053 | |||||||||
| TOTAL LIABILITIES AND MEMBER'S EQUITY | $ | 1,217,732 | $ | 491,972 | $ | 1,217,732 | ||||||
| ABC Company, LLC | ||||||||||||
| Statements of Operations | ||||||||||||
| For the Year Ended December 31, 2013 | ||||||||||||
| FRF for SMEs | Income Tax | GAAP | ||||||||||
| SALES | $ | 3,315,938 | $ | 3,315,938 | $ | 3,315,938 | ||||||
| COST OF SALES | 2,675,286 | 2,675,286 | 2,675,286 | |||||||||
| GROSS PROFIT | 640,652 | 640,652 | 640,652 | |||||||||
| OPERATING EXPENSES: | ||||||||||||
| Advertising | 5,264 | 5,264 | 5,264 | |||||||||
| Auto and Truck Expenses | 3,686 | 3,686 | 3,686 | |||||||||
| Bank Service Charges | 3,158 | 3,158 | 3,158 | |||||||||
| Credit Card Fees | 16,621 | 16,621 | 16,621 | |||||||||
| Depreciation | 8,436 | 182,364 | 8,436 | |||||||||
| Insurance | 24,511 | 24,511 | 24,511 | |||||||||
| Legal and Accounting | 15,943 | 15,943 | 15,943 | |||||||||
| Miscellaneous | 10,963 | 10,963 | 10,963 | |||||||||
| Payroll Taxes | 29,931 | 29,931 | 29,931 | |||||||||
| Rent | 36,000 | 36,000 | 36,000 | |||||||||
| Repairs and Maintenance | 34,370 | 34,370 | 34,370 | |||||||||
| Supplies | 35,748 | 35,748 | 35,748 | |||||||||
| Travel | 7,071 | 7,071 | 7,071 | |||||||||
| Utilities | 28,338 | 28,338 | 28,338 | |||||||||
| Wages | 199,537 | 199,537 | 199,537 | |||||||||
| Total Operating Expenses | 459,577 | 633,505 | 459,577 | |||||||||
| OPERATING INCOME (LOSS) | 181,075 | 7,147 | 181,075 | |||||||||
| INTEREST EXPENSE | 6,237 | 6,237 | 6,237 | |||||||||
| NET INCOME BEFORE TAXES | 174,838 | 910 | 174,838 | |||||||||
| INCOME TAXES: | ||||||||||||
| Current | - | - | - | |||||||||
| Deferred | - | - | (52,000) | |||||||||
| NET INCOME | $ | 174,838 | $ | 910 | $ | 122,838 | ||||||
| ABC Company, LLC | |||||||||||||
| Statements of Member's Equity | |||||||||||||
| For the Year Ended December 31, 2013 | |||||||||||||
| FRF for SMEs | Income Tax | GAAP | |||||||||||
| MEMBER'S EQUITY - BEGINNING | $ | 1,064,192 | $ | 512,360 | $ | 896,192 | |||||||
| Net Income | 174,838 | 910 | 122,838 | ||||||||||
| Member's Withdrawals | (126,977) | (126,977) | (126,977) | ||||||||||
| MEMBER'S EQUITY - ENDING | $ | 1,112,053 | $ | 386,293 | $ | 892,053 | |||||||
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