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WESTMINSTER ST. PAUL’S
PRESBYTERIAN CHURCH
BALANCE SHEET
AS AT DECEMBER 31. 1989
ASSETS 1989 1988
Current Assets
Bank $2,326 $1,840
Property Fund 2,280 =
Prepaid expenses 475 662
Total Current Assets 5,081 2,502
Fixed Assets
Land and Improvements 23,226 23,226
Buildings 188,091 188:091
Equipment and Furnishings 42,622 42,622
Total Fixed Assets 253, 939 253,939
Total Assets 259, 020 256, 441
LIABILITIES AND EQUITY
LIABILITIES
Current Liabilities
Bank Indebtedness ° 9
Accounts Payable 11 234
Current portion L.T.D. i =
Total Current Liablities 11 234
Long — Term Debt
Roof Loans. Payable a =
Less:- Current portion Fi =
Total Long - Term Debt 0 0
Total Liabilities 11 234
EQUITY
Member’s Equity
Opening equity 256,207 252, 768
Operating surplus (shortage) S64 2: 393
Transfers to Property Fund 22239
Payments of roof loans c7 1,046
| Total Member’s Equity 259; 009 256, 207
Total Liabilities and Equity $259, 020 $256,441

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