Form No. 165 - Balance Sheet
Description
This section is from the book "Real Estate Business Self-Taught", by W. A. Carney. Also available from Amazon: Real estate business self-taught.
Form No. 165 - Balance Sheet
Balance Sheet of JOHN NEWMAN For Year Ending December 31, 1906. | ||||||
Ledger | Trial Balance | Financial Accts. | Speculative Accts. | |||
Titles | Dr. | Cr. | Resor. | Liab. | Loss | Gain |
Real Estate .... | $30000. | $30000. | ||||
Furniture | 360. | 360. | ||||
Gen. Expense .. | 225. | $225. | ||||
Opr. Expense .. | 560. | 560. | ||||
Taxes & Ins. .. | 150. | 150. | ||||
480. | 480. | |||||
Bills Recvb..... | 900. | 900. | ||||
Accts. Recvb. .. | 38.75 | 38.75 | ||||
Cash......___ | 871.25 | 871.25 | ||||
J. N's Capital Acc't........ | $21778. | |||||
Bills Paybl..... | 8000. | $8000. | ||||
Voucher Acct... | 35. | 35. | ||||
Commissions .. | 1222. | $1222 | ||||
2550. | 2550 | |||||
$33585. | (33585. | $32170. | $8035. | $1415. | $3772. | |
Total gains.............................................................................................. | $3772 |
Total losses............................................................................................ | 1415. |
Net gain for year......................................................................... | $2357. |
Total resources....................................................................................... | $32170. |
Total liabilities....................................................................................... | 8035. |
Present worth......................................................................................... | 24135. |
John Newman's Net Investment............................................................ | 21778. |
Net gain..................................................................................... | $2357. |
Dividing $2357 by 1% of $21778 (or $217.78) gives .1082 as rate per cent of earnings for year. | |
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