Need help entering information for the balance sheet per books.
Schedule L Balance Sheet per Books Assets 1 Cash.. 2a Trade notes and accounts receivable b Less allowance for bad debts 3 Inventories.. 4 U.S. government obligations 5 Tax-exempt securities Beginning of tax year (a) (b) 1,037,000 145,000 -32,000 177,000 96,000 End of tax year (c) (d) 62,500 177,000 -41,000 218,000 59,000 125,000 125,000 100,000 0 6 Other current assets 437,500 1,287, 250 7 Loans to shareholders. O 8 Mortgage and real estate loans O 0 9 Other investments ol O O 0 10a Buildings and other depreciable assets b Less accumulated depreciation 11a Depletable assets -436,500 436,500 -715,000 715,000 0 O b Less accumulated depletion.. O O O O O 201 nar Cati 12 Land (net of any amortization) 13a Intangible assets (amortizable only) b Less accumulated amortization O ol 0 arpot 0 14 Other assets 225,000 125,000 15 Total assets Assets (a) 2,634,000 c) 2,591,750 (b Quick Entry Liabilities and Shareholders' Equity 16 Accounts payable... 17 Mortgages, notes, bonds payable in less than 1 year 102,000 131,000 n 1,667,000 2,072,000 2,327,500 18 Other current liabilities 1,967,8201 0 19 Loans from shareholders 0 20 Mortgages, notes, bonds payable in 1 year or more O O 21 Other liabilities 14,000 45, 910 22 Capital Stock a Preferred stock ol O b Common stock O 0 01 0 23 Additional paid-in capital 99,000 99,000 0 0 24 Retained earnings - Appropriated 25 Retained earnings - Unappropriated... (complete Schedule M-2) 26 Adjustments to shareholders' equity 1,128, 430 1,299,602 O 0 N 27 Less cost of treasury stock O 0 5,975,012 28 Total liabilities and shareholders' equity 4,978, 250 Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return (201 3 nar Cat orpor 1 Net income (loss) per books ..... (complete Lines 2 through 10) 2 Federal income tax per books 171, 1727 Income recorded on books this year not included on this return (itemize): 0 Tav.evemnt interest 1 annl (b) (a) Assets (a 62,500 $ 59,000 0 Cash $ 1,037,000 Accounts Receivable 145,000 177,000 Less: Allowance for Bad Debts (32,000) (41,000) Inventory 96,000 Publicly traded securities 100,000 Tax-exempt bond 100,000 0 U.S. Treasury Bonds 125,000 125,000 Fixed Assets 2,955,000 Less: Acc. Depreciation (436,500) (715,000) Prepaid Insurance 0 15,750 Prepaid Rent 38,500 39,500 Prepaid Advertising 27,500 2,115,000 0 Accounts Payable 102,000 131,000 Accrued Bonuses 45,000 0 Accrued Vacation 62,500 73,000 Accrued Wages 44,500 51,500 Event Deposits 0 100,000 Income Tax Payable $46,820 Deferred Tax Liability 14,000 Note Payable-First Bank of NY (Credit Line) 424,000 657,000 Note Payable-EG Capital Equipment Leasing 1,243,000 1,415,000 0 45,910 Capital Stock 1,000 1,000 Additional paid-in Capital 99,000 99,000 Retained Earnings-Unappropriated 1,128,430 209,590
