Financial Responsibility Sample Financial Statements Page 2
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4XYZ CONTRACTOR
COMPARATIVE BALANCE SHEET
Years Ending 2015 and 2014
Dec. 31, 2015
Dec. 31, 2014
Change
ASSETS
Current Assets
Checking
$
46,950.00
$
38,000.00
$
8,950.00
Money Market
$
1,000.00
$
1,000.00
$
-
Accounts Receivable
$
3,000.00
$
2,000.00
$
1,000.00
Prepaid Expense
$
3,000.00
$
-
$
3,000.00
Total Current Assets
$
53,950.00
$
41,000.00
$
12,950.00
Fixed Assets
Company Vehicle
$
40,000.00
$
40,000.00
$
-
Accum. Depr., Vehicle
$
(6,000.00)
$
(3,000.00)
$
(3,000.00)
Tools and Equipment
$
5,000.00
$
5,000.00
$
-
Accum. Depr., Tools
$
(2,000.00)
$
(1,000.00)
$
(1,000.00)
Total Fixed Assets
$
37,000.00
$
41,000.00
$
(4,000.00)
TOTAL ASSETS
$
90,950.00
$
82,000.00
$
8,950.00
LIABILITIES AND EQUITY
LIABILITIES
Current Liabilities
Accounts Payable, Trade
$
500.00
$
2,500.00
$
(2,000.00)
Accrued Revenue
$
3,000.00
$
-
$
3,000.00
Total Current Liabilities
$
3,500.00
$
2,500.00
$
1,000.00
Non-Current Liabilities
$
-
Vehicle Loan Payable
$
30,000.00
$
38,000.00
$
(8,000.00)
Total Non-Current Liabilities
$
30,000.00
$
38,000.00
$
(8,000.00)
Total Liabilities
$
33,500.00
$
40,500.00
$
(7,000.00)
EQUITY
Owner Capital
$
10,000.00
$
20,000.00
$
(10,000.00)
Owner Contributions
$
-
$
15,000.00
$
(15,000.00)
Owner Draws
$
(50,000.00)
$
(25,000.00)
$
(25,000.00)
Retained Earnings
$
31,500.00
$
5,000.00
$
26,500.00
Net Income
$
65,950.00
$
26,500.00
$
39,450.00
Total Equity
$
57,450.00
$
41,500.00
$
15,950.00
TOTAL LIABILITIES AND EQUITY
$
90,950.00
$
82,000.00
$
8,950.00
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