BALANCE SHEET

Name: Twin Pines Farm

Address:
As of:
2-Jan
ASSETS
Current Assets
Cash on hand & in checking accounts
Savings & money market accounts .
Marketable bonds & securities (Sch. 1) ..
Futures/Options account equity
Accounts receivable:
Government program payments .
Other ..
Notes & contracts receivable:
Portion due within 12 months (Sch. 11)
Accrued interest earned (Sch. 11) .
Feeder livestock & poultry:
Kind
No.
Avg. Wt.
$/Unit
Value
feeder pigs
1,200.0
1
50.00
60,000
market hogs
800.0
1
75.00
60,000
0
0
0
0
0
0
0
Crops and feed:
Item
Quantity
Unit
$/Unit
Value
Corn
44,000.0 bushels
2
99,000
Soybeans
7,000.0 bushels
5
35,000
0
0
0
0
0
0
Prepaid expenses (Sch. 2)
Supplies (Sch. 3) .
Investment in growing crops (Sch. 4) ..
Other current assets ..
TOTAL CURRENT ASSETS
Non-Current Assets
Raised breeding livestock, not depreciated (Sch. 6) .
Raised breeding livestock, depreciated (Sch. 7)
Purchased breeding livestock (Sch. 8)
Cost or basis ..$
minus Accumulated depr ....(-)
Machinery & equipment (Sch. 9) ..
Cost or basis ..$
minus Accumulated depr .(-)
Capital leased assets (Sch. 5) .
Investments in cooperatives (Sch. 5)
Investments in other entitites (Sch. 5) .
Notes & contracts receivable - portion due
beyond 12 months (Sch. 11) ..
Real estate (Sch. 10) .
Cost or basis ..$
minus Accumulated depr .(-)
Other non-current assets
TOTAL NON-CURRENT ASSETS

Business
Combined (Business & Personal)

LIABILITIES AND OWNER EQUITY

Cost
Market Value
Current Liabilities
4,250
4,250 (1) Accounts payable:
(2) Labor
Feed&seed
(3) Repairs
Fert&chem
1,500
1,500 (4) Storage
Fuel&oil
(5) Rent
Mach. Hire
(6) Other
soil sample
$
1,500
1,500
8,000
8,000 (7) Credit card balances (business accounts)
(8) Commodity Credit Corporation (CCC loans):
(9)
(10)
(11)
(12) Notes due within 12 months:
(13)
(to whom, maturity, purpose)
(14) operating loan
87,300
(15) Combine
20,000
(16) Farm Purchase
8,000
(17)
(18)
(19)
(20) Accrued interest on:
120,000
120,000 (21) Accounts payable & credit cards $
(22) Notes due within 12 months .
7,770
7,770
(23) Accrued interest on all
(24)
non-current liabilities (Sch. 12, line f) ..
(25) Principal due within 12 months on all
(26)
non-current liabilities (Sch. 12, line f) ..
(27) Accrued tax liabilities:
(28)
Property ..$
(29)
Real estate ..
(30)
Employer payroll withholdings
0
134,000
134,000 (31) Estimated accrued income & social sec. Tax ..
44,000
44,000 (32) Other current liabilities ..
(33)
17,000
17,000 (34) Deferred tax on current assets (Sch. 13, line 22)
(35)
TOTAL CURRENT LIABILITIES
124,570
328,750
328,750 (36) Non-Current Liabilities
(37) (Principal portion due beyond 12 months)
19,000
19,000 (38) Notes (Sch. 12, line a) ..
40,000
(39) Capital leases (Sch. 12, line b)
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(40) Sales/Land contracts (Sch. 12, line c) ..
92,000
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(41) Real estate mortgages (Sch. 12, line d)
0 /////////////////////
(42) Other loans (Sch. 12, line d)
40,000
/////////////////////
240,000 (43) Other non-current liabilities ..
/////////////////////
/////////////////////
(44) TOTAL NON-CURRENT LIABILITIES
172,000
0 /////////////////////
(45)
Cost
Market Value
(46) Total current and
(47)
non-current liabilities ..
296,570
296,570
(48) Deferred tax on non-current
(49)
asssets (Sch. 13, line 38) . /////////////////////
(50) TOTAL BUSINESS LIABILITIES
296,570
296,570
/////////////////////
510,000 (51) Personal liabilities (Sch. 14) /////////////////////
/////////////////////
/////////////////////
(52)
TOTAL LIABILITIES
296,570
296,570
0 /////////////////////
(53) OWNER EQUITY:
(54) Retained Earnings .
0
19,000
769,000 (55) Contributed Capital
Cost
Market Value (56) Personal Net Worth (Sch. 14) . /////////////////////
TOTAL BUSINESS ASSETS
347,750
1,097,750 (57) Valuation Equity . /////////////////////
801,180
Personal assets (Sch. 14) . /////////////////////
(58)
TOTAL OWNER EQUITY
51,180
801,180
(59)
TOTAL LIABILITIES
TOTAL ASSETS
347,750
1,097,750 (60)
and OWNER EQUITY
347,750
1,097,750