Hsm 260 1. Assignment: Reading a Balance Sheet

1. Assignment: Reading A Balance Sheet
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Read the background information provided in Appendix B.
Open Appendix D XYZ Nonprofit Corp-this can be found in the Course Materials section under Week 4.   CAUTION:   Be sure to look at the tabs on the bottom of the spreadsheet and make sure you are on the Balance Sheet
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XYZ NONPROFIT CORPORATION |
BALANCE SHEET |
| 2002 (A) | 2003 (A) | 2004 (A) | |
ASSETS | | | | |
  Current assets | | | | |
    Cash | $2,576.00 | $20,904.00 | $86,971.00 | |
    Investments | $12,000.00 | $12,000.00 | $12,000.00 | |
    Accounts Receivables, net | $88,764.00 | $47,884.00 | $199,905.00 | |
    Prepaid expense | $956.00 | $1,270.00 | $4,026.00 | |
  Total Current Assets | $104,296.00 | $82,058.00 | $302,902.00 | |
| | | | |
  Property and equipment, net | | | | |
    Land | $192,300.00 | $193,372.00 | $193,372.00 | |
    Furniture and equipment | $59,135.00 | $61,053.00 | $92,267.00 | |
    Leasehold improvements | $35,539.00 | $23,380.00 | $110,463.00 | |
  Total property and equipment | $286,974.00 | $277,805.00 | $396,102.00 | |
| | | | |
TOTAL ASSETS | $391,270.00 | $359,863.00 | $699,004.00 | |
| | | | |
LIABILITIES AND NET ASSETS | | | | |
| | | | |
LIABILITIES | | | | |
  Current liabilities | | | | |
    Accounts payable | $74,826.00 | $39,951.00 | $104,201.00 | |
    Accrued payroll and related liabilities | $57,888.00 | $45,954.00 | $66,359.00 | |
    Note payable (current portion) | $6,303.00 | $8,070.00 | $166,161.00 | |
    Capital lease obligation (current portion) | $0.00 | $0.00 | $312.00 | |
  Total current liabilities | $139,017.00 | $93,975.00 | $337,033.00 | |
| | | | |
  Note payable (long term) | $0.00 | $0.00 | $1,904.00 | |
  Capital lease obligation (long term) | $171,229.00 | $166,004.00 | $0.00 | |
| | | | |
Total...