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Creative Activities Pty Ltd: Balance Sheet 2007/2008

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Essay title: Creative Activities Pty Ltd: Balance Sheet 2007/2008

Creative Activities Pty Ltd: Balance Sheet 2007/2008

2007

2008

$

$

$

$

Current Assets

cash at bank

80,000

200,000

Debtors

637,000

591,000

Inventory- sports clothing

230,000

235,000

Inventory- sports equipment

325,000

298,000

1,272,000

1,324,000

Non-current assets

Office furniture

1,110,000

1,040,000

Less accumulated depreciation

149,000

961,000

180,000

860,000

Delivery Van

30,000

30,000

Less accumulated depreciation

10,000

20,000

15,000

15,000

Motor Vehicle

50,000

50,000

Less accumulated depreciation

12,000

38,000

16,000

34,000

1,019,000

909,000

Total Assets

2,291,000

2,233,000

Current Liabilities

Creditors

271,000

253,000

Overdraft

6,000

10,000

Taxes payable

48,000

60,000

325,000

323,000

Non-current liabilities

Term Loan

50,000

45,000

50,000

45,000

Total liabilities

375,000

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