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| Balance Sheet Statement | |
| for the year ended 31/12/16 | |
| Particulars | Amount (in $) |
| Accounts receivable | 9,200 |
| Cash | 4,600 |
| Prepaid expenses | 8,000 |
| Total current assets | 21,800 |
| Office furniture | 28,000 |
| Investments | 5,000 |
| Total non-current assets | 33,000 |
| Total assets | 54,800 |
| Accounts payable | 2,400 |
| Salaries payable | 3,400 |
| Total current liabilities | 5,800 |
| Loan payable | 17,300 |
| Total non-current liabilities | 17,300 |
| Total Liability | 23,100 |
| Davis, capital | 35,000 |
| Retained earnings | 38,700 |
| Total owner's equity | 73,700 |
| Drawings | 18,900 |
| Total liabilities and owner's equity | 54,800 |
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