USA Assets != Equity + Liabilities


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Hi, could anyone explain to me, in this balance sheet, which items are assets, which items are liability, and which items are equity?

Are funding debt and Notes issued liability?

Is redeemable convertible preferred stock equity?

I just feel Assets != Equity + Liabilities here. Thanks

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kirby

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The first two amounts (Cash and Loans) are Assets. Those two amounts plus other assets not shown equal total assets which is the third amount.
The funding debt and the notes issued by securitization trusts are liabilities.
And what is shown is just a partial balance sheet so you cannot tell if Assets = Liabilities plus Owners Equity using that data.
 
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Sorry for my mistake. Now, I found the complete balance sheet. Do you think Assets = Equity + Liabilities now? Thanks
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Also, in the balance sheet, there are columns "Pro Forma", "Pro Forma as Adjusted" and "actual". Which column is more important?

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kirby

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Regarding the complete balance sheet: Note that the Total Assets amount equals the "Total Liabilities (etc) and Stockholders' Deficit. So Assets do equal Liabilities plus Owners Equity.

As for the immediately above schedule: the column that is important depends on you and what you are looking for. The notes to the S1 form explain the differences among the amounts.
 
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Thanks for pointing this out. If I want to see the situation right after IPO, I think "Pro Forma as Adjusted" is more accurate. Is my understanding correct?
 

kirby

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Yes, but note the pro forma as adjusted is based on an ASSUMPTION. So it depends if you think that assumption will actually happen.
 
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Thanks for your reminder. I will pay attention to the assumption behind the "pro forma as adjusted" numbers.
 

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