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3
WESTMINSTER ST. PAUL’S
PRESBYTERIAN CHURCH
BALANCE SHEET
AS AT DECEMBER 31, 198g
ASSETS 1988 1987
Current Assets ;
Bank $1,840 $0
Prepaid expenses 662 S56
Total Current Assets 2,502 56
Fixed Assets
Land and Improvements 23,226 23, 226
Buildings 188,091 188,091
Equipment and Furnishings 42,622 41,576
Total Fixed Assets 253,939 252; 893
Total Assets 256, 441 252,949
SSsese=s=e 0 saeensesce
LIABILITIES AND EQuITy
LIABILITIES
Current Liabilities
Bank Indebtedness ° 17°
Accounts Payable 234 Ww
Current portion L.T.D. 5; =
Total Current Liablities — 234 181
Long - Term Debt
Roof Loans Payable is =
Less:— Current portion i -
Total Long - Term Debt © ° 0
Total Liabilities 234 181
EQUITY
Member’s Equity
Opening equity 252, 768 246,771
Operating surplus (shortage) 2,393 295
Payments of roof loans yv.e¢.R, 1,046 5S: 702
Total Member’s Equity 256, 207 252, 768
Total Liabilities and Equity $256, 441 $252,949
B8seeensze sesecesees

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