Hereford Hank operates a ranch on the western slope of the Colorado Rockies. He has scheduled an appointment to visit his lender next week to secure a loan to cover his operating expenses for the next year. However, his banker wants his most recent balance sheet so he has hired you to prepare one for him. He has given you the following as his estimate of values for August 15, 2018:
Checking and savings account $ 5,374
Cows (321), replacement heifers (74), & bulls (9) 485,850
Steer calves in feedlot (95 head @ $875) 83,125
Accounts payable at Granger Supply for feed & fuel purchased 15,800
Protein supplement purchased this summer but not yet delivered 15,000
Hay Equipment 58,000
JD 4450 Tractor 39,500
Alfalfa Hay (200 ton @ $120) 24,000
Land value 585,000
Accrued real estate taxes (as of Aug. 15, 2018) 5,350
Notes Outstanding: Outstanding Interest Principal Next Annual Payment Due Accrued as of Balance Date Total Interest Principal Aug 15, 18 Real estate mortgage $432,052 3/1/19 $ 42,355 $ 34,564 $ 7,791 $15,842 Operating loan 125,000 2/1/19 147,150 12,150 125,000 6,581 Tractor loan 28,053 6/3/19 6,480 1,403 5,077 185
Submit your results via the Canvas assignment tool including BOTH your formatted PDF output (8 x 11) and your Excel workbook file. (Hint: Consider selecting Landscape orientation and make use of Excels Print Preview before creating your PDF file.)
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.
[order_calculator]