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Valley Publishing CompanyBalance Sheet
December 31st, 20x2
Assets
Current Assets
Cash
Cash - Central State Bank - General $111,289 $95,831
Cash - Central State Bank - Payroll $2,000 $2,000
Cash - Albany National Bank $132,100 $135,270
Petty Cash $1,820 $253
Trade Accounts Receivable $475,205 $501,525
Allowance for Doubtful Accounts -$38,500 -$40,800
Receivable - Insurance Claim $0 $25,950
Newsprint Inventory $175,856 $189,699
Prepaid Insurance $10,160 $155,000
Prepaid Rent $84,000 $0
Deferred Taxes (Asset) $13,400 $0
Investments - General $135,000 $0
Other Assets $0 $70,000
Non-Current Assets
Land $135,000
Building $3,178,710
Accumulated Depreciation - Building -$19,697
Printing Equipment $1,886,840 $3,025,780
Accumulated Depreciation - Printing Equipment -$905,700 -$941,013
Furniture and Equipment $110,240 $194,740
-$52,600 -$67,849
Computers $108,460 $106,310
Accumulated Depreciation - Computers -$64,008 -$79,786
Total Assets $2,185,562 $6,666,923
Liabilities & Equity
Liabilities
Short Term Debt $0 $0
Current Portion of L/T Debt $0 $0
Vouchers Payable -$114,463 -$84,866
Accrued Payroll - Net -$94,416 -$98,154
Accrued Payroll Taxes -$39,494 -$41,432
Accrued Property Taxes -$39,600 -$46,800
Accrued Interest $0 -$82,717
Accrued Pensions -$15,196 -$15,961
Unearned Subscription Revenues -$114,952 -$125,728
Payable to Route Carriers -$21,855 -$23,356
Income Taxes Pay -$16,600 -$29,000
Dividends Payable -$90,000 -$65,000
Equity
Long Term Debt -$500,000 -$3,945,000
Deferred Income Taxes $0 -$13,600
Capital Stock -$450,000 -$650,000
Paid-in Capital $0 -$680,000
Retained Earnings -$467,071 -$623,986
Current Net Income -$221,915 -$141,323
Total Liabilities and Equity -$2,185,562 -$6,666,923
Per Audit 12/31/x1
Per Audit 12/31/x2
Accumulated Depreciation - Furniture and Fixture
Per Audit 12/31/x1
Per Audit 12/31/x2