Basic balance sheet question


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Oct 23, 2014
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What do I put in the equity side to match the equipment value from the assets side? I'm not getting my balance sheet to be even on each side.
Thanks!


as of 12/31/2012
ASSETS
Current assets
Cash and cash equivalents $104,978.41
Inventories $0.00
Total current assets $104,978.41

Non-current assets
Equipment $7,664.03
Accum. depr. equipment ($1,034.36)
RV studio $13,995.00
Accum. depr. studio ($999.64)
Total non-current assets $19,625.03

Total Assets $124,603.44

LIABILITIES AND EQUITY
Current liabilities
Accounts payable $0.00
Total current liabilities $0.00

Shareholders' equity
Invested capital $167,500.00
Accumulated deficit ($10,299.44)
Net income ($54,710.62)
Ending accumulated deficit ($65,010.06)
Total equity $102,489.94

Total Liabilities and Equity $102,489.94
 
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Oct 24, 2014
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I'm not an accountant but common sense tells me that either your recorded deficit is wrong or your figures for assets are wrong.
Other than that, all the figures in what you're showing are unverifiable. They are just there. If the assets are correct then your equity should be 124603.44. Only you can figure it out.
 

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