Understanding Financial Statements Bizzer Professional Training


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Please review the information below
Definitions of Balance Sheet Items – Claims on Assets
Claims on assets arise from debt and from ownership claims on the company. As the number of liabilities and ownership items increase, the complexity of the balance sheet increases.

 

Click on an item name for a description  

 Balance Sheet
 Bizzer, Inc.
January 1,1999 

 
LIABILITIES AND OWNERS' EQUITY


Liabilities

  Current Liabilities
 
 
  Long-Term Debt – 1 Yr.
$18,000
 
  Notes Payable
$39,000
 
  Accounts Payable
$15,000
 
  Taxes Payable
$13,000
 
  Accrued Expenses
$43,000
 
  Other Current Liabilities


Total Current Liabilities

Long-Term Liabilities

$11,000


$139,000

 

 
  Notes Payable
$18,000
 
  Bonds Payable


Total Long-Term Liabilities

Other Liabilities

$99,000


$117,000

 

 
  Pension Obligations
$98,900
 
  Deferred Taxes
$72,000
 
  Minority Interest


Total Other Liabilities

$12,400


$183,300

 

Total Liabilities
 
$439,300

Owners Equity

  Preferred Stock

Common Equity

$12,000

 

 
  Common Stock
$118,000
 
  Capital Surplus
$110,000
 
  Retained Earnings
$100,000
 
  Treasury Stock

Total Common Equity

– $55,000


$273,000

 


Total Owners' Equity


Total Liabilities and Owners' Equity

 
$285,000


$724,300

 


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