Help with balance sheet statement,please?

Question

To Kay Ltd for novelties to be sold £1,500

year profit £11,040

To Cas Limited for playing cards £400

To Mary for ‘disappearing lady’ apparatus £2,000

George’s drawings £11890

Cash balance at 31 December 2007 £560

Bank balance at 31 December 2007 £120

invoices received from Kay Ltd up to

31 December 2007

£1,700

Stock of unsold novelties at cost price at 31 December 2007 £80

Amount owing from customers for novelties £350

Other fixed assets still owned at 31 December 2007

Costume at cost 3,000

Magic books and equipment at cost £2,000

Owner’s capital (costume, magic books and equipment and

£20 initial travel expenses from owner’s savings)

£5,020.

Depreciation £ 500 for costume,books and equipment

Depreciation for apparatus £400

Owe wages to Mary of £100 and paid early bus tickets of £50.

Answer 1

separate your accounts in to Assets, Liabilities, and Stockholders Equity

Assets= Cash, Accounts receivable, inventory etc.

Liabilities= accounts payable, anything you owe

Stockholders Equity= Dividends, Revenues, Expenses

You list assets first; then liabilities, then stockholders equity,

IMPORTANT: Assets = Liabilities + S.E.

if you need help with anything else, please specify. i'm assuming your textbook has a sample balance sheet statement that you can structure your accounts into.

Answer 2

I bought millions and millions of barrels of oil when they cost $60--$100 a barrel. I expect to make a kill when I sell. But right now it’s only over $140 a barrel. So here is my difficulty :

I have requested my agents spin the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon”   But it does not work price up fast enough.

I have paid the mainstream media, the Think Tanks,  and the major PR talking heads,  to spin China and India (supply and demand) responsible for price hike, to deflect American public anger. But that does not go far enough.

Right now, I am extremely nervous and worried. I urgently need a prey to buy those “paper barrels” on my hording. So I can profit.  But where can I find my prey ?  

ADD:

Airline industry has requested and demanded Congress stop oil speculation. I have my lobby on Capitol Hill work the Senators and Congressmen around the clock. But I do not how long they can hold.

http://www.networkworld.com/community/no...