Balance Sheet Example for J&B Incorporated

J&B INCORPORATED
FORECASTED BALANCE SHEETS
ENDING APRIL 30 ...

 
April April April April
200W * 200X ** 200Y 200Z
CURRENT ASSETS:
Ending Cash (note 21) $ 63,314 $ 57,608 $ 61,968 $ 94,091
Office Supplies (note 6) $ 0 $ 500 $ 735 $ 476
Finished Diskette Inventory (note 2) $ 0 $ 6,683 $ 2,803 $ 1,790
Finished CD Inventory (note 2) $ 0 $ 3,103 $ 2,072 $ 2,053
Total Current Assets $ 63,314 $ 67,894 $67,578 $ 98,410
FIXED ASSETS:
Net Computer Equipment (note 16) $ 7,602 $ 9,426 $ 10,034 $ 11,642
Net Office Furniture (note 17) $ 1,412 $ 2,425 $ 3,018 $ 3,712
Net Intangible - Initial R&D (note 18) $ 47,772 $ 31,848 $ 15,924 $ 0
Net Intangible - Future R&D (note 19) $ 0 $ 74,161 $140,923 $179,789
Total Fixed Assets $ 56,786 $117,860 $169,900 $195,143
TOTAL ASSETS $120,100 $185,753 $237,477 $293,553
LIABILITIES:
Accounts Payable (note 22) $ 0 $ 4,975 $ 5,274 $ 6,394
Wages & Employee Benefits (note 23) $ 0 $ 1,686 $ 2,049 $ 2,336
Operating Loan Payable (note 13) $20,000 $ 0 $ 0 $ 0
Taxes Payable (note 20) $ 0 $ 29,698 $ 31,728 $ 34,919
TOTAL LIABILITIES $20,000 $ 36,359 $ 39,051 $ 43,649
SHAREHOLDER'S EQUITY:
100 Class A Common Shares (note 24) $ 100 $ 100 $ 100 $ 100
50 Class B Common Shares (note 24) $100,000 $100,000 $100,000 $100,000
Retained Earnings (note 25) $ 0 $ 49,294 $ 98,326 $149,804
TOTAL SHAREHOLDER'S EQUITY $100,100 $149,394 $198,426 $249,904
TOTAL LIABILITIES & EQUITY $120,100 $185,753 $237,477 $293,553
* April 30, 200W represents the forecasted account balances at the end of the product's development phase.
** April 30, 200X represents the forecasted account balances at the end of the company's first year of operation.

 

 

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