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    The balance sheet shows the Horse Vet LLC's assets and liabilities as of 2012 and 2011. Total assets increased from $170,100 to $204,909 from 2011 to 2012 due primarily to increases in cash, restricted cash, accounts receivable, and non-current assets. Total liabilities also increased from $54,820 to $88,500. The income statement shows the company's revenues and expenses for 2012, with a net income of $16,129. The cash flow statement indicates changes in the company's cash balance from operating, investing, and financing activities between 2011 and 2012.

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    The balance sheet shows the Horse Vet LLC's assets and liabilities as of 2012 and 2011. Total assets increased from $170,100 to $204,909 from 2011 to 2012 due primarily to increases in cash, restricted cash, accounts receivable, and non-current assets. Total liabilities also increased from $54,820 to $88,500. The income statement shows the company's revenues and expenses for 2012, with a net income of $16,129. The cash flow statement indicates changes in the company's cash balance from operating, investing, and financing activities between 2011 and 2012.

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    39 views2 pages

    PDF 3 PDF

    Uploaded by

    Patricia Rodrigues
    The balance sheet shows the Horse Vet LLC's assets and liabilities as of 2012 and 2011. Total assets increased from $170,100 to $204,909 from 2011 to 2012 due primarily to increases in cash, restricted cash, accounts receivable, and non-current assets. Total liabilities also increased from $54,820 to $88,500. The income statement shows the company's revenues and expenses for 2012, with a net income of $16,129. The cash flow statement indicates changes in the company's cash balance from operating, investing, and financing activities between 2011 and 2012.

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    of 2

    HORSEVET,LLC

    BALANCESHEET 2.012 2.011 Change

    Cash $54.809 $45.000 $9.809


    RestrictedCash $2.500 $2.500 $12.309
    AccountsReceivable $27.500 $9.000 $18.500
    Inventoryofsupplies $17.000 $21.000 $4.000
    TotalCurrentAssets $101.809 $75.000 $26.809

    Barn(netofaccum.Dep.) $51.000 $56.000 $5.000


    Trailer(netofaccum.Dep.) $10.000 $10.000
    Xraymachine(netofaccum.Dep.) $10.000 $10.000
    Truck(netofaccum.Dep.) $27.100 $29.100 $2.000
    PartnershipInvestment $15.000 $15.000
    TotalNonCurrentAssets $103.100 $95.100 $8.000

    TotalAssets $204.909 $170.100 $34.809

    LoanPayableCurrent $12.000 $12.000


    InterestPayable $180 $180
    AccountsPayable $18.200 $8.700 $9.500
    WagesPayable $2.000 $2.000 $0
    SalesTaxesPayable $1.300 $3.300 $2.000
    UnearnedRevenue $14.000 $14.000
    TotalCurrentLiabilities $47.680 $14.000 $33.680

    LongtermDebt $40.820 $40.820 $0


    TotalNonCurrentLiabilities $40.820 $40.820 $0

    CommonStock $65.000 $60.000 $5.000


    RetainedEarnings $51.409 $55.280 $3.871
    TotalOwners'Equity $116.409 $115.280 $1.129

    TotalLiabilities&Equity $204.909 $170.100 $34.809

    INCOMESTATEMENT 2.012

    Sales $920.000
    CostofSuppliesUsed $642.000
    GrossProfit $278.000

    GainonDisposal $3.000
    DepreciationExpense $7.000
    TravelExpenses $96.000
    Wages $150.000
    Marketing $2.250
    DuesandEducation $4.900
    InterestExpense $2.221
    BadDebtExpense $1.500
    MiacellaneousExpense $1.000
    $261.871

    NetIncome $16.129

    CASHFLOWSTATEMENT 2.011

    NetIncome $39.300
    AddDepreciation $8.000
    Changesin:
    AccountsReceivale $5.000
    Inventoryofsupplies $11.820
    AccountsPayable $2.700
    SalesTaxesPayable $1.000
    CashFlowfromOperatingActivities $32.180

    Trailer $11.000
    CashFlowfromInvestingActivities $11.000

    LongtermDebt $40.820
    DividendsPaid $20.000
    CashFlowfromFinancingActivities $20.820

    Increase(decrease)inCash $42.000
    BegginningCashBalance $3.000
    FinalCashBalance $45.000

    $0
    HORSEVET,LLC

    CASHFLOWSTATEMENT 2.012

    NetIncome $16.129
    AddDepreciation $7.000
    LessGainonDisposal $3.000
    Changesin:
    AccountsReceivable $18.500
    Inventoryofsupplies $4.000
    InterestPayable $180
    AccountsPayable $9.500
    WagesPayable $0
    SalesTaxesPayable $2.000
    UnearnedRevenue $14.000
    CashFlowfromOperatingActivities $27.309

    XrayMachine $10.000
    Partnership $15.000
    ProceedsfromDisposal(Trailer) $13.000
    CashFlowfromInvestingActivities $12.000

    CommonStock $5.000
    ShorttermLoan $12.000
    DividendsPaid $20.000
    CashFlowfromFinancingActivities $3.000

    Increase(decrease)inCash $12.309
    BegginningCashBalance $45.000
    FinalCashBalance(Total) $57.309 IncludingRestrictedCash

    $0

    ADDITIONALCALCULATIONS

    NetIncome $16.129
    RetainedEarnings2011 $55.280
    TheoreticalRE2012 $71.409
    RetainedEarnings2012 $51.409
    Dividends $20.000

    GainonDisposal $3.000
    TrailerBookValue2011 $10.000
    ProceedsfromDisposal(Trailer) $13.000

    ChangesinBarn $5.000
    ChangesinTruck $2.000
    $7.000
    DepreciationExpense $7.000
    NetchangeinNCA $0

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