Balance Sheet
This part of the balance sheet includes cash, land inventory and model homes.
What are assets?
This financial statement shows how much Homes By WestBay profited or lost over a period of time.
What is the income or profit/loss statement?
The year Homes by WestBay was Founded.
What is 2009?
This federal institution plays a major role in influencing interest rates.
What is the Federal Reserve?
The amount deducted from your wages.
What are withholdings?
The amounts owed to subcontractors and vendors shows up here.
What are liabilities?
The amount Homes by WestBay makes from selling homes including incentives/discounts.
What is homebuilding revenue?
Homes by WestBay's first Model Home.
What is a Key Largo II?
The result when a WestBay buyer switches lenders at the end of the construction of their home.
What is a delay in the closing date? and/or What is a loss of incentives/discounts?
The movement of money into and out of a company over a certain period.
What is cash flow?
This section of the Balance sheet shows the owner's investment and profits retained in the business.
What is equity?
The cost of building homes such as foundation installation, drywall and labor fall under this expense category.
What is cost of good sold (COGS).
The year Casa Fresca was founded.
What is 2019?
The amount of the loan when the buyer puts down 30% on a $800,000 home.
What is $560,000?
It is the result of when you spend less than you earn.
What is a savings or surplus of income?
This accounting equation keeps Homes by WestBay's books in balance.
What is Assets = Liabilities + Equity
Revenue minus homebuilding cost of sales equals this.
What is Gross Profit?
The year we celebrated the delivery of our 1000th home.
What is 2016?
A lower credit score usually means a lower interest rate.
What is false?
Cash flows from the purchase of property, plant and equipment.
What is investing activities?
This financial statement shows what Homes by WestBay and Casa Fresca owns and owes at a specific point in time.
What is the Balance Sheet?
The amount after all costs, including salaries and advertising/marketing expenses.
What is net income?
Homes by WestBay is Tampa Bay's largest privately-owned new home builder and ranked (#)__ largest builder in America.
What is 59th?
This is added to a monthly mortgage payment to cover home insurance and property taxes.
What is escrow?
The Statement of Cash Flows shows the increase or decrease in the cash balance only at the beginning of the period.
What is false.