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General Accounting Discussions: Balance Sheet - Grant Funds.

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    I'm preparing an Income Statement, Statement of Cash Flows, and Balance Sheet for funding for a LLC. I realize I need to seek a professional to handle my Accounting as soon as I generate some revenue. Unfortunately I can't afford to during the application process. I've done taxes and reports for years, so I'm just knowlegable enough to be dangerous!

    I have done pretty well so far but I need to know what heading you should enter Grant money under on the Equity Statement and the Balance Sheet. Also what heading should be used for Member Investments. I have been provided with pre-made Financials that appear more for Corporations. I'm most puzzeled by the Grant funds.

    This Grant would be a set amount and with conditions. Thanks for any help you can provide.
    • CommentAuthorpk
    • CommentTimeFeb 10th 2010
     
    Classify it as "Restricted Fund"
    Thankful People: dynamicquest

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