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Valuation of Club Assets
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Jan 31, 11 |
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ASSETS |
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Current Assets |
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Checking/Savings |
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Community America Checking |
1,342.81 |
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Community America Savings |
140.15 |
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Freedom Money Market |
28,592.65 |
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Total Checking/Savings |
30,075.61 |
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Accounts Receivable |
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Accounts Receivable |
7,613.00 |
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Total Accounts Receivable |
7,613.00 |
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Total Current Assets |
37,688.61 |
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Fixed Assets |
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Piper Arrow PA28R - N4669J |
70,000.00 |
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Cessna 172 - N1436U |
60,000.00 |
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Total Fixed Assets |
130,000.00 |
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Other Assets |
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Security Deposit for T-Hangars |
620.00 |
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Total Other Assets |
620.00 |
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TOTAL ASSETS |
168,308.61 |
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LIABILITIES & EQUITY |
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Equity |
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Opening Bal Equity |
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Aircraft Valuation Adjustment |
15,700.00 |
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Opening Bal Equity - Other |
123,327.64 |
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Total Opening Bal Equity |
139,027.64 |
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Prior Years Equity Increase |
27,055.13 |
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Net Income |
2,225.84 |
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Total Equity |
168,308.61 |
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TOTAL LIABILITIES & EQUITY |
168,308.61 |
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