WMLM1401 - CME/CMLE -LMU 20 (Fundamentals) Financial - Budget Analysis and Financial Performance-WMLM1401

WMLM1401 - Pre-Reading Assignment 1

Pdf Summary

The balance sheet presented starts off by listing current assets such as cash, petty cash, investments, accounts receivable, inventory, and supplies. These assets are offset by current liabilities including notes payable, accounts payable, wages payable, and taxes payable. Additional current liabilities listed are interest payable, warranty liability, and unearned revenues. Moving on to investments, the sheet includes property, land, and equipment where items like buildings, equipment, and land improvements are detailed along with depreciation. Intangible assets like goodwill and trade names are followed by categories for other assets and liabilities. The stockholder equity section lists common stock and retained earnings under total stockholder equity. The sheet concludes with total assets matching total liabilities and stockholder equity. This balance sheet provides a snapshot of the company's financial position by detailing its assets, liabilities, and equity at a specific point in time.

Keywords

balance sheet

current assets

current liabilities

investments

property

land

equipment

intangible assets

stockholder equity

financial position