Terra Engineering: Projected Balanced Sheet Example!

 

Opening

Year 1

Year 2

Year 3

ASSETS

 

 

 

 

Current Assets

 

 

 

 

Cash

$20,100

$24,516

$29,197

$40,498

Accounts Receivable

-

-

-

-

Total Current Assets

$20,100

$24,516

$29,197

$40,498

Fixed Assets

 

 

 

 

Leasehold Improvements

$5,000

$5,000

$5,000

$5,000

Office Equipment and Furniture

$6,000

$6,000

$6,000

$6,000

Specialized Field Equipment

$27,000

$27,000

$27,000

$27,000

Specialized Software

$10,000

$10,000

$10,000

$10,000

Less: Accumulated Depreciation

-

$3,600

$7,200

$10,800

Total Fixed Assets

$48,000

$44,400

$40,800

$37,200

Total Assets

$68,100

$68,916

$69,997

$77,698

LIABILITIES

 

 

 

 

Current Liabilities

 

 

 

 

Accounts Payable

-

-

-

-

Current Portion of Loan

$3,638

$4,019

$4,439

$4,904

Long Term Liabilities

 

 

 

 

Long Term Portion of Debt

$13,362

$9,344

$4,904

-

Total Liabilities

$17,000

$13,362

$9,344

$4,904

OWNERS EQUITY

 

 

 

 

Environmental Grant

$40,800

-

-

-

Contributed Assets Equity

-

-

-

-

Owner’s Equity

$10,200

$51,000

$55,554

$60,654

Net Income / Retained Earnings

-

$4,454

$5,100

$12,141

OWNERS EQUITY

$51,000

$55,554

$60,654

$72,794

TOTAL EQUITY AND LIABILITIES

$68,100

$68,916

$69,997

$77,698