Initial Balance Sheet 

Assets

Current Account

Cash

0

Less: Reserve for Bad Debt

-

-

Merchandise Inventory

$914.26

Prepaid Expenses

-

Notes Receivable

-

Total Current Assets

$4,004.26

Other Assets:

Startup Costs

$1,494.26

Total Other Assets

$0.00

Total Assets

$4,004.26

Liabilities and Capital

Current Liabilities

-

Accounts Payable

-

Sales Tax Payable

-

Payroll Taxes Payable

-

Accrued Wages Payable

-

Unearned Revenues

-

Short-Term Notes Payable

-

Short-Term Bank Loan Payable

Total Current Liabilities

Long Term Liabilities

Long-Term Notes Payable

-

Mortgage Payable

-

Total Long-Term Liabilities

-

Total Liabilities

Capital:

$750,000

Owner’s Equity

Net Profit (loss)

$4,004.26

Total Capital

$1,200,000

Total Liabilities and Capital

$450,000