Balance Sheet 2011

March 7, 2012


These past few days I’ve been working on my tax declaration for 2011. So far I’ve been doing the accounting work myself, though for next year I will probably delegate this to an accounting firm.

The expenses for 2011 came to a total of 3 230.76 dollars. Divided into items, the costs were as follows:

Proofreading$1 473.97
Proof copies$146.81
CreateSpace pro plan$200.17
Domain names$152.11
Web hosting$15.23
Google AdWords$527.00
Various marketing$715.47
Total$3 230.76

The domain names and hosting items are the only costs that are paid annually ($172.59). The remaining items are investment costs for marketing and product development that are only paid once.

As for the income, Siforia pulled in 910.56 dollars during 2011. This did manage to offset the investment costs by quite a bit, even though this is the first year.

Hard copy books$671.70
Kindle books$154.75
Private ad deals$230.96
Google AdSense$114.49

Note that the income is slighly lower than the sum of my monthly income reports. This is because it only takes into account money I have actually received and not money floating around on any Internet accounts.

As expected, the balance sheet for 2011 is negative. The company has a total debt of 2 325.45 dollars as of the end of 2011.

About Admin

Mikael ‘Mike’ Olsson is a web entrepreneur, author and student of life. He enjoys teaching, traveling, writing books and making sites that summarize various fields of interest.

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