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Below is the information. Can you show me how to complete Form 1120. BADEC Corporation 12/31/2016 Assets Cash $485,600 Computer $7,000 AccDep-Computer $(1,745) Furniture $3,000

Below is the information. Can you show me how to complete Form 1120.

BADEC Corporation

12/31/2016

Assets

Cash

$485,600

Computer

$7,000

AccDep-Computer

$(1,745)

Furniture

$3,000

AccDep-Furniture

$(321)

Land

$50,000

Total Assets

$543,534

Liabilities

Equity

Retained Earnings

$53,534

Stock-Anderson

$50,000

Stock-Bacon

$150,000

Stock-Cox

$100,000

Stock-Day

$50,000

Stock-Elders

$40,000

Stock-Fawcett

$80,000

Stock-Gonzalez

$20,000

Total Liabilities plus Equity

$543,534

Book Info

Entity Type:PartnershipSub-Entity Type:GeneralEntity Name:BADECState of FormationGeorgiaEntity Start Date4/2/2016Tax Year Start Date:4/2/2016Tax Year End Date:12/31/2016Book Maintained By:Andrew AndersonAddress:10 Sysco Way Atlanta, GA 30039Purpose of EntityAcquire, rehabilitate and resale residential real property.Allocation of Separately Stated Items (per Partnership Agreement)ItemInvestorPercentageInterest Income..Contributions..Contributions..Net Long-term Capital Gains (Losses)..Net Short-term Capital Gains (Losses)..Interest Income..Qualified Dividends..Unqualified Dividends..Real Estate/Housing Credits..Tax Exempt Interest Income Items..Tax Exempt Interest Income Items..

Investor Info

First NameLast NameSSNAddressCityStateZipPartner InformationAndrewAnderson756-12-111110 Sysco WayAtlantaGA30039GeneralBillBacon756-12-222220 Sysco WayAtlantaGA30039GeneralCathyCox756-12-333330 Sysco WayAtlantaGA30039GeneralDorisDay756-12-444440 Sysco WayAtlantaGA30039GeneralElroyElders756-12-555550 Sysco WayAtlantaGA30039GeneralFarahFawcett756-12-666660 Sysco WayAtlantaGA30039GeneralGomezGonzalez756-12-777770 Sysco WayAtlantaGA30039General

Contributions

InvestorContribution DateContribution 1Contribution 2Contribution 3Contribution 4Net ContributionsPartnership InterestFirst NameLast NameSSNItemValueItemValueItemValueItemValueAndrewAnderson756-12-11114/2/2016Cash$50,000$50,00010%BillBacon756-12-22224/2/2016Cash$150,000$150,00031%CathyCox756-12-33334/2/2016Cash$100,000$100,00020%DorisDay756-12-44444/2/2016Cash$50,000$50,00010%ElroyElders756-12-55554/2/2016Cash$40,000$40,0008%FarahFawcett756-12-66664/2/2016Cash$30,000Land$50,000$80,00016%GomezGonzalez756-12-77774/2/2016Cash$10,000Computer$7,000Furniture$3,000$20,0004%100%BADEC PartnershipBalance Sheet4/2/2016AssetsCash$430,000.0Computer7,000.00Furniture3,000.00Land50,000.00Total Assets$490,000.00LiabilitiesTotal Liabilities$-Partners EquityCapital-Anderson$50,000.00Capital-Bacon150,000.00Capital-Cox100,000.00Capital-Day50,000.00Capital-Elders40,000.00Capital-Fawcett80,000.00Capital-Gonzalez20,000.00Total Liabilities and Partners Equity$490,000.00

Income Statement

Gross IncomeRepair Revenue$100,000.00Interest Income600.00Dividends (Qualified)2,000.00Net Short-term Capital Gain5,000.00Total Income from all sources$107,600.00ExpensesGuaranteed payments$10,000.00Renovation Expense5,500.00Rent1,500.00Depreciaton expense2,065.75Licenses500.00Travel Expenses800.00Supplies Expenses700.00Net Long-term Capital Loss10,000.00Charitable Contributions5,000.00Total Expenses$36,065.75Net Income$71,534.25Badec PartnershipStatement of Change in Partners EquityFor Period Ending 12/31/2016Begin. Bal.ContributionsWithdrawalsAllocationsDistributionsEnding Bal.Capital-Anderson$50,000.00$-Capital-Bacon150,000.00-Capital-Cox100,000.00-Capital-Day50,000.00-Capital-Elders40,000.005,000.00-Capital-Fawcett80,000.006,000.00-Capital-Gonzalez20,000.007,000.00-

Ending Balance Sheet

BADEC PartnershipBalance Sheet12/31/2016AssetsCash$485,600.00Computer7,000.00AccDep-Computer(1,745.21)Furniture3,000.00AccDep-Furniture(320.55)Land50,000.00Total Assets$543,534.25LiabilitiesTotal Liabilities$-Partners EquityCapital-Anderson$57,299.41Capital-Bacon171,898.24Capital-Cox114,598.83Capital-Day57,299.41Capital-Elders40,839.53Capital-Fawcett85,679.06Capital-Gonzalez15,919.77Total Liabilities and Partners Equity$543,534.25

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