A. Acme Widget Company
Acme Widget Year One
Acme Widget Year One Balance Sheet Worksheet
1. $80,000 stock sale:
+ $80,000 cash / + $80,000 common stock
2. Borrow $60,000:
+ $60,000 cash / + $60,000 notes payable
3. Purchase machine:
+ $48,000 fixed assets / + $48,000 accounts payable
4. Purchase raw materials:
+ $20,000 inventory—raw materials / + $20,000 accounts payable
5. Pay rent advance:
– $1,000 cash / + $1,000 prepaid expenses
6. Repay bank loan:
– $60,000 cash / – $60,000 notes payable
7. Pay for machine:
– $48,000 cash / – $48,000 accounts payable
8. Pay for raw materials:
– $20,000 cash / – $20,000 accounts payable
9. Purchase $160,000 worth of raw materials:
+ $160,000 inventory—raw materials / + $160,000 accounts payable
Pay for $120,000: ...
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