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what do the t accounts look like for this? Assets Current Assets Cash Merchandise Inventory Total Current Assets BBBB, Inc. Balance Sheet December 31, 2019
what do the t accounts look like for this? Assets Current Assets Cash Merchandise Inventory Total Current Assets BBBB, Inc. Balance Sheet December 31, 2019 Liabilities Current Liabilities $ 151,000 Taxes Payable 8,000 Note Payable-Land 159,000 Total Current Liabilities $ 18,600 28,000 46,600 Fixed Assets Land 30,000 Long-Term Liabilities Note Payable-Bank Total Liabilities 100.000 146,600 Other Assets Security Deposit 6,000 $ 5,000 43,400 Owners' Equity Common Stock Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 48,400 Cotal Assets $ 195,000 $195.000 During 2020 the company 120,000 Purchased 15,000 biffs at $8 each. Paid $100,000 cash and will pay $20,000 next year. Sold 11,000 biffs at $20 each Paid the $28,000 note on the land plus $2,000 interest Paid rent of $12,000 Paid salaries of $36,000 Issued 100 shares of common stock for $10,000 on June 1 On December 31, bought a truck for $40,000, cash. On December 31, paid $50,000 on the note payable to bank and $10,000 interest. Paid 2018 taxes Tax rate is 30% and 2020 taxes will be paid in 2021
what do the t accounts look like for this?
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