Euromedical Balance Sheet Case Study

Date

0

1

2

3

Current Assets

Fixed Asset

Accounts

- Accumulated

Inventory

Equipment - Cost

receivable

depreciation

4,000 €

103,000 €

121,000 €

66,000 -€

22,000

€

€

€

Liabilities

Retained profit

€

-€

-€

58,000

12,000

75,800

€

-€

100,000

Accounts

payable

€

43,500

€

350,000

-€

4,000

€

53,000

€

96,000

66,000 -€

26,400

€

155,660

€

€

4,400

84,940

€

240,600

Balance Sheet as of 31/12/2012

Current Assets

Cash

€

Bank Account

€

Accounts

€

receivable

€

4,000

48,000

96,000

€

66,000

-€

201,000

Equity

Capital

Retained profit

53,000

€

€

Tax Payable

60,000

€

Accrued

Bank overdraft

expenses

€

1,500 €

9,000

€

12,000

€

1,800 €

74,000

-

325,000

345,000

500,000

-€

€

Loan

450,000

350,000

325,000

450,000

-€

5

6

7

8

9

Fixed Asset

Equipment Cost

- Accumulated

depreciation

Total Assets

Capital

-€

€

4

Inventory

Equity

Cash

26,400

€

Liabilities

Accounts

payable

39,600

Tax Payable

Loan

€

€

€

100,000

55,660

€

23,500.00

€

4,140.00

€

54,000.00

Accrued

€

3,300.00

expenses

240,600 Total Equity + Liabilities

€

-€

-€

-€

100,000 €

6,000

4,400

4,140

55,660

-€

€

23,500

6,000

€

54,000

-€

€

€

€

€

4,140

4,140

€

500,000

345,000

12,000

3,300 -€

48,000

Description

Opening balances as of 31/12/2011

Dividend distribution

Wages Payment is an expense. Not al the ammount is payed before the end of the year

Inventory are bought on credit

Revenues from Sales

Selling inventories generate cost of sales

The Account receivable are reduced by the amount of €500.000 that reduces the Bank overdraft

Debit in account payable are reduced by the amount of €345.000 that at the same time increases the Bank overdraft because of the cash payment

The annual instalment of the...