Gateway Redevelopment Group
2008 Balance Sheet
Accrual Basis as of December 31, 2008
ASSETS
Current Assets
Checking/Savings
1000 ·
Checking
1,536.05
1001 ·
Savings
1,163.87
Total
Checking/Savings
2,699.92
Accounts Receivable
1200 · Accounts Receivable
1201 · 730 Gains -
Jipp 18,274.30
1202 · 822 Gains - Stone
Soup 30,000.00
1204 · Jipp Apartment
-6,000.00
Total 1200 · Accounts
Receivable 42,274.30
Total Accounts
Receivable 42,274.30
Total Current
Assets
44,974.22
Fixed Assets
1500 · Jipp
1501 · Phase 1 - Stabilization
1502 · Building
Materials 6,366.80
1503 ·
Demolition 300.00
1504 ·
Masonry 6,795.00
1506 ·
Roofing 1,278.50
Total 1501 · Phase 1 -
Stabilization 14,740.30
1510 · Phase 2 - Restoration
1511 · Building
Materials 2,526.85
1512 · Electrical and
Mechanical 13,142.67
1513 ·
Flooring 10,772.00
1514 ·
Framing 7,321.91
1515 ·
Masonry 7,050.00
1516 · Real Estate
Taxes 1,149.00
1517 ·
Roofing 36,883.00
1518 ·
Finishing 2,315.38
Total 1510 · Phase 2 -
Restoration 81,160.81
1520 ·
apartment 6,308.37
Total 1500 ·
Jipp
102,209.48
1550 · 822 Gains
1551 ·
Mechanical 32,878.17
1552 ·
Framing 48,004.66
1553 ·
Windows 11,209.40
1554 ·
Interior 16,866.27
1555 ·
Painting 2,856.13
1556 ·
Staircase 3,268.05
1557 · Appliances, Cabinets,
Fixtures 4,196.85
1558 · Siding and
Porch 8,932.92
1559 · 822 Misc
1,158.19
1560 · Hauling
1,744.00
1562 · Loan
Interest 2,523.00
1563 ·
Garage 6,338.95
1550 · 822 Gains -
Other -114,875.55
Total 1550 · 822
Gains 25,101.04
Total Fixed
Assets
127,310.52
TOTAL
ASSETS
172,284.74
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
2000 · Accounts
Payable 43,909.61
Total Accounts
Payable 43,909.61
Total Current
Liabilities 43,909.61
Long Term Liabilities
2500 · Notes Payable Loans
2505 · 822 Gain
St. 5,000.00
2515 · QuadCities Housing
Cluster -3,580.00
Total 2500 · Notes Payable
Loans 1,420.00
Total Long Term
Liabilities 1,420.00
Total
Liabilities
45,329.61
Equity
1110 · Retained
Earnings 129,957.74
3000 · Opening Bal
Equity -143.14
Net
Income
-2,859.47
Total
Equity
126,955.13
TOTAL LIABILITIES &
EQUITY 172,284.74
