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Please make a balance sheet along with deffered tax and valuation equity Use the information below to construct the Dec. 31, 2016 Balance Sheet and
Please make a balance sheet along with deffered tax and valuation equity
Use the information below to construct the Dec. 31, 2016 Balance Sheet and deferred tax and valuation equity worksheets. Note: Not all items will be used all balances are as of 12/31/16, unless otherwise stated a. Cash on hand and in checking account b. Market value of all equipment c. 2015 Income taxes paid in 2016 d. Cash operating expenses paid in 2016 e. Principal portion of 15-year loan due in 2017 f. Principal paid on 15-year loan during 2016 g. Inventories: Supplies h. Insurance premiums for 2017 paid in Dec. 2016 i Investment in local brewery made in 2006 for $50,000, 35,000 250,000 32,000 518,000 13,000 12,000 5,000 20,500 estimated market value of 65,000 as of 12/31/16 j. Change in accounts payable during 2016 k. Inventories: Completed goods 1. Principal balance on operating (short-term) loan m. Accrued interest on 15-year note n. Accrued interest on operating (short-term) loan o. Rent for January 2017, paid in Dec. 2016 p. Accumulated depreciation on equipment 1,500 16,000 10,000 8,600 900 4,500 50,000 21,000 g. Accrued income, social security, and payroll taxes 4,000
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