| Bookkeeping outsourcing services. Report completed by IGS Bookkeeping services | |||||||||||||
| SILVER CASCADE INC | |||||||||||||
| Balance Sheet Prev Year Comparison | |||||||||||||
| As of December 15, 2009 | |||||||||||||
| 15-Dec-09 | 15-Dec-08 | $ Change | % Change | ||||||||||
| ASSETS | |||||||||||||
| Current Assets | |||||||||||||
| Checking/Savings | |||||||||||||
| Checking | 97,510.02 | 198,699.57 | -101,189.55 | -50.93% | |||||||||
| Cash Expenditures | 225.23 | 0.00 | 225.23 | 100.0% | |||||||||
| Savings | 5,887.50 | 20,477.50 | -14,590.00 | -71.25% | |||||||||
| Total Checking/Savings | 103,622.75 | 219,177.07 | -115,554.32 | -52.72% | |||||||||
| Accounts Receivable | |||||||||||||
| Accounts Receivable | 35,810.02 | 3,576.46 | 32,233.56 | 901.27% | |||||||||
| Total Accounts Receivable | 35,810.02 | 3,576.46 | 32,233.56 | 901.27% | |||||||||
| Other Current Assets | |||||||||||||
| Prepaid Insurance | 500.00 | 0.00 | 500.00 | 100.0% | |||||||||
| Employee advances | 100.00 | 0.00 | 100.00 | 100.0% | |||||||||
| Inventory Asset | 9,437.08 | 2,241.90 | 7,195.18 | 320.94% | |||||||||
| Undeposited Funds | 110.00 | 0.00 | 110.00 | 100.0% | |||||||||
| Total Other Current Assets | 10,147.08 | 2,241.90 | 7,905.18 | 352.61% | |||||||||
| Total Current Assets | 149,579.85 | 224,995.43 | -75,415.58 | -33.52% | |||||||||
| Fixed Assets | |||||||||||||
| Truck | |||||||||||||
| Accumulated Depreciation | -1,725.00 | -1,150.00 | -575.00 | 50.0% | |||||||||
| Original Purchase | 13,750.00 | 13,750.00 | 0.00 | 0.0% | |||||||||
| Total Truck | 12,025.00 | 12,600.00 | -575.00 | -4.56% | |||||||||
| Total Fixed Assets | 12,025.00 | 12,600.00 | -575.00 | -4.56% | |||||||||
| TOTAL ASSETS | 161,604.85 | 237,595.43 | -75,990.58 | -31.98% | |||||||||
| LIABILITIES & EQUITY | |||||||||||||
| Liabilities | |||||||||||||
| Current Liabilities | |||||||||||||
| Accounts Payable | |||||||||||||
| Accounts Payable | 2,554.57 | 2,731.56 | -176.99 | -6.48% | |||||||||
| Total Accounts Payable | 2,554.57 | 2,731.56 | -176.99 | -6.48% | |||||||||
| Credit Cards | |||||||||||||
| CalOil Card | 1,403.99 | 347.24 | 1,056.75 | 304.33% | |||||||||
| QuickBooks Credit Card | |||||||||||||
| QBCC Field Office | 45.00 | 0.00 | 45.00 | 100.0% | |||||||||
| QBCC Home Office | 25.00 | 0.00 | 25.00 | 100.0% | |||||||||
| Total QuickBooks Credit Card | 70.00 | 0.00 | 70.00 | 100.0% | |||||||||
| Total Credit Cards | 1,473.99 | 347.24 | 1,126.75 | 324.49% | |||||||||
| Other Current Liabilities | |||||||||||||
| Payroll Liabilities | 5,520.47 | 0.00 | 5,520.47 | 100.0% | |||||||||
| Payments on Account | -1,520.00 | 0.00 | -1,520.00 | -100.0% | |||||||||
| Sales Tax Payable | 2,086.50 | 154.61 | 1,931.89 | 1,249.53% | |||||||||
| Total Other Current Liabilities | 6,086.97 | 154.61 | 5,932.36 | 3,836.98% | |||||||||
| Total Current Liabilities | 10,115.53 | 3,233.41 | 6,882.12 | 212.84% | |||||||||
| Long Term Liabilities | |||||||||||||
| Bank of Anycity Loan | 19,932.65 | 0.00 | 19,932.65 | 100.0% | |||||||||
| Equipment Loan | 3,911.32 | 0.00 | 3,911.32 | 100.0% | |||||||||
| Bank Loan | 6,013.06 | 13,299.65 | -7,286.59 | -54.79% | |||||||||
| Total Long Term Liabilities | 29,857.03 | 13,299.65 | 16,557.38 | 124.5% | |||||||||
| Total Liabilities | 39,972.56 | 16,533.06 | 23,439.50 | 141.77% | |||||||||
| Equity | |||||||||||||
| Opening Bal Equity | 151,970.07 | 219,570.70 | -67,600.63 | -30.79% | |||||||||
| Owner's Equity | |||||||||||||
| Owner's Draw | -5,000.00 | 0.00 | -5,000.00 | -100.0% | |||||||||
| Total Owner's Equity | -5,000.00 | 0.00 | -5,000.00 | -100.0% | |||||||||
| Retained Earnings | -40,198.24 | -392.76 | -39,805.48 | 10,134.81% | |||||||||
| Net Income | 14,860.46 | 1,884.43 | 12,976.03 | 688.59% | |||||||||
| Total Equity | 121,632.29 | 221,062.37 | -99,430.08 | -44.98% | |||||||||
| TOTAL LIABILITIES & EQUITY | 161,604.85 | 237,595.43 | -75,990.58 | -31.98% | |||||||||
| Outsource bookkeeping services | |||||||||||||