Financial Statement Preparation |
| BALANCE SHEET – LIABILITIES & NET WORTH |
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Notes Payable - New Vehicles & DemosShort-term loans received from finance company secured by new vehicle inventory; charge to interest 7180 Notes Payable - Used VehiclesShort-term loans received from finance company secured by used vehicle inventory; charge interest to 7180 Notes Payable - CPO Vehicles (Franchise Only)Short-term loans received from finance company secured by CPO Vehicle (Franchise Only) inventory Notes Payable - Remarketed VehiclesShort-term loans received from finance company secured by remarketed vehicle inventory; charge interest to 7380 Notes Payable - Recreation VehiclesShort-term loans received from finance company secured by reacreation vehicle inventory Notes Payable - Other Short TermShort-term loans received from finance company or other maturing in 12 months; charge interest to 8740 & 2421 Notes Payable - Long Term Current PortionAmount of long-term notes or mortgages payable maturing within 12 months Overdraft/Lines of CreditAccounts PayableDue trade creditors for merchandise/services/equipment purchased on open account Accounts Payable - Customer Sales TaxIncome TaxesCorporation income taxes payable to government agencies DepositsCollected from customers and held in trust to apply on future deliveries Accommodations-SVC. Contracts Repo/RefundCollections from customers for remittance to others (e.g. finance contract installments; license fees; service coupon) Accrued TaxesUnemployment, real and personal property, Accrued Payroll and BonusesSalaries, wages, commissions, incentives, Accrued Profit Sharing & Deferred Interest Leasing (Non US)Not to be used by dealers in the United States Accrued OtherInsurance, interest, pension contributions and other accruals Deferred Interest Income (Non US)Total Current LiabilitiesTotal of Lines 1 thru 17 Vehicle Equity - NewTotal from page 1 lines 19, 20, 21, Assets minus line 1 of Liabilities Vehicle Equity - UsedTotal from page 1 lines 22 thru 27 Assets, minus lines 2, 3, 4 of Liabilities Net Cash FormulaNet Cash = Sum of Cash + Finance Contracts +Marketable Securities + Accounts Receivable New Vehicle + Vehicle Holdback + New Car, Truck, Demo & Used Vehicles CPO Inventories LESS Notes Payable New Vehicle & DEMOS, Overdrafts/Lines of Credit, Customer Deposits & Customer Accommodations-SVC Contracts/Rep Refund. (Total should exceed an average month's total expense). Average Month Total ExpensesLine 56 of the Operating Analysis (Total Expense YTD) divided by no. of months statement covers Net Cash Over (Under)Line 21 minus line 22 Mortgages PayableLong-term loan received secured by mortgage on real estate Notes Payable - Officers & OwnersLong-term loan received from officers, stockholders and owners of dealership Notes Payable - FordLong-term loan received from Ford Notes Payable - OtherLong-term loan received from financial institutions or other sources; record portion payable in 12 months in 2040 Notes Payable - Leased VehiclesLoans received from financial institutions secured by vehicles in leasing service Notes Payable - Rental VehiclesLoans received from financial institutions secured by vehicles in rental service Estimated Liability - Repossession Purchase LossMonthly provisions for estimated repossession loss purchases based on prior experience Other LiabilitiesLong-term liabilities not specifically provided for elsewhere in this Manual Total LiabilitiesTotal of lines 18 plus 24 thru 31 Corporation - Capital StockPar or no-par value of corporation preferred and/or common stock; also other Capital and Treasury Stock Corporation - Capital in Excess of Stock Par ValueCorporation - Retained EarningsNet profit, after income tax and dividend distributions, accumulated in prior years and retained in business Treasury StockCorporation - Fixed Asset Revaluation (Non US)Not to be used by dealers in the United States Sub "S" - Dividends Declared(Dividends declared by corporation during current year) Partners' or Proprietor's InvestmentCash or value of other assets invested by partners or proprietor, includes net earnings retained from prior years Partners' or Proprietor's Drawing(Cash or value of merchandise withdrawn other than salaries, by partners or proprietor) Net InvestmentTotal of lines 34 through 41 Net Profit - After Income TaxNet WorthLine 42 plus or minus line 43 Total Liabilities and Net WorthLine 32 plus line 42 or minus line 43 Return on Investment (ROI)Page 1, Line 59, YTD Profit before income tax, Annualized. Divide by actual working capital + (Equipment cost - Equipment depreciation) + Working Capital - ActualCurrent Assets (line 34) plus LIFO Reserve (lines 31 & 32) less Current Liabilities (Line 18) Working Capital - Recommended Minimum or GuideGuide figure contained on the FD-1984 (Ford Dlrs.) LM 7191 (L/M Dlrs.) Working Capital - Actual Over (Under)Amount ACTUAL is over (under) GUIDE Line 48 less 49 |