Joint Venture
BALANCE SHEET FOR THE RICHARD STOCKTON SCHOOL OF BUSINESS DECEMBER 31, 2007
Assets:
Current Assets:
Cash and Cash Equivalents $55,000
Accounts Receivable, net $440,125
Short Term Investments $25,000
Inventory $20,000
Supplies $100,000
Prepaid Insurance $25,000
Total Current Assets $665,125
Property, Plant, and Equipment:
Land $2,000,000
Building
Less: Accumulated Depreciation $1,000,000
$100,000 $900,000
Furniture, Fixtures & Equipment (Net of Depreciation $50,000) $200,000
Total Property, Plant, and Equipment $3,100,000
Intangibles:
Goodwill $50,000
Total Assets $3,815,125
Liabilities:
Current Liabilities:
Accounts Payable $200,000
Salaries and Wages Payable $300,000
Utilities Payable $15,000
Total Current Liabilities $515,000
Long Term debt:
Long-term Notes Payable $500,125
Twenty-year 8% debentures, due January 2, 2027......
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Approximate Word Count: 735
Approximate Pages: 3 (250 words per double-spaced page)
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