Amaranth Advisors Inc.
AMARANTH ADVISORS Inc.
Balance Sheet
June 30, 2006
ASSETS LIABILITIES
Cash $22,000 Accounts Payable $50,000
Accounts Rec. 5,000 Mortgage Payable 50,000
Inventory 40,000
Supplies 1,000 Total Liabilities $100,000
Land 10,000
Buildings $120,000 STOCKHOLDER EQUITY Acc. Depr. 100,000
Equipment 20,000 Common Stock $5 Par $30,000 Acc. Depr 16,000 Retained Earnings 64,000 Total Equity $94,000
TOTAL ASSETS $194,000 TOTAL LIAB. & EQUITY $194,000
July 1 Sold 20,000 shares of common stock for $180,000.
July 3 Purchased on account $20,000 of inventory for resale to customers.
July 4 Paid $5,000 July monthly mortgage payment. The rate of interest is 9%.
July 5 Purchased a 3-year insurance policy for $2,400 in cash. Effective date is July 1.
July 7 Paid $20,000 for purchases acquired July 3.
July 10 Sales revenue generated was $100,000. $10,000 in cash received this date the balance on account. The cost of the inventory sold was $25,000. Terms 4/30 net 60 days.
July 15 Paid $20,000 in wages.
July 30 Acquired $80,000 of equipment. Useful life is 10 years. Signed a note (12%) for the full amount.
Aug. 1 Declared a dividend of 50 cents per share.
Aug. 1 Received full amount due from the July 10 sale.
Aug. 1 Signed a lease for warehouse space rental period covered January 1 to December 31, 2007.
Aug. 9 Borrowed $80,000, and signed a note for this amount at 12%.
Aug. 28 Paid the August mortgage payment of $3,000.
Aug. 30 Paid $3000 on the equipment note entered into on
Balance Sheet
June 30, 2006
ASSETS LIABILITIES
Cash $22,000 Accounts Payable $50,000
Accounts Rec. 5,000 Mortgage Payable 50,000
Inventory 40,000
Supplies 1,000 Total Liabilities $100,000
Land 10,000
Buildings $120,000 STOCKHOLDER EQUITY Acc. Depr. 100,000
Equipment 20,000 Common Stock $5 Par $30,000 Acc. Depr 16,000 Retained Earnings 64,000 Total Equity $94,000
TOTAL ASSETS $194,000 TOTAL LIAB. & EQUITY $194,000
July 1 Sold 20,000 shares of common stock for $180,000.
July 3 Purchased on account $20,000 of inventory for resale to customers.
July 4 Paid $5,000 July monthly mortgage payment. The rate of interest is 9%.
July 5 Purchased a 3-year insurance policy for $2,400 in cash. Effective date is July 1.
July 7 Paid $20,000 for purchases acquired July 3.
July 10 Sales revenue generated was $100,000. $10,000 in cash received this date the balance on account. The cost of the inventory sold was $25,000. Terms 4/30 net 60 days.
July 15 Paid $20,000 in wages.
July 30 Acquired $80,000 of equipment. Useful life is 10 years. Signed a note (12%) for the full amount.
Aug. 1 Declared a dividend of 50 cents per share.
Aug. 1 Received full amount due from the July 10 sale.
Aug. 1 Signed a lease for warehouse space rental period covered January 1 to December 31, 2007.
Aug. 9 Borrowed $80,000, and signed a note for this amount at 12%.
Aug. 28 Paid the August mortgage payment of $3,000.
Aug. 30 Paid $3000 on the equipment note entered into on