v2.4.0.8

ALLIED RESOURCES, INC BALANCE SHEETS AS OF JUNE 30, 2014 AND DECEMBER 31, 2013 (USD $)	Jun. 30, 2014	Dec. 31, 2013
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$ 1,375,506	$ 1,390,041
Accounts Receivable, Net, Current	31,616	41,800
Assets, Current	1,407,122	1,431,841
Assets, Noncurrent
Oil and gas properties (proven), net (successful efforts method)	641,089	665,560
Deposits Assets, Noncurrent	704,701	704,701
Assets	2,752,912	2,802,102
Liabilities, Current
Accounts Payable, Current	11,000	12,857
Liabilities, Current	11,000	12,857
Liabilities, Noncurrent
Asset retirement obligation	218,273	213,001
Liabilities	229,273	225,858
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Common Stock, Value, Issued	5,653	5,653
Additional Paid in Capital, Common Stock	9,916,458	9,916,458
Retained Earnings (Accumulated Deficit)	(7,398,472)	(7,345,867)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	2,523,639	2,576,244
Liabilities and Equity	$ 2,752,912	$ 2,802,102

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.

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Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.

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The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

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Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.

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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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Other oil and gas properties not otherwise defined but accounted for using the successful effort method.

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The cumulative amount of the reporting entity's undistributed earnings or deficit.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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ALLIED RESOURCES INC 10-Q