You are to complete the balance sheet information portion of each tax return. Obtain the financial statements from the case of your portfolio option. You will also use the tax return template included under that same option. You must address instructor feedback when submitting this milestone with your Portfolio Project during week 8.

Review the grading rubric in the module folder to understand how you will be graded on the project.

BADEC Partnership 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 Capital-Anderson $57,299 Capital-Bacon $171,898 Capital-Cox $114,599 Capital-Day $57,299 Capital-Elders $40,840 Capital-Fawcett $85,679 Capital-Gonzalez $15,920 Total Liabilities plus Equity $543,534

BADEC Partnership
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
	Capital-Anderson		$ 57,299
	Capital-Bacon		$ 171,898
	Capital-Cox		$ 114,599
	Capital-Day		$ 57,299
	Capital-Elders		$ 40,840
	Capital-Fawcett		$ 85,679
	Capital-Gonzalez		$ 15,920
	Total Liabilities plus Equity		$ 543,534

Submit the following:

Form 1065 template with only page 5 (Schedule L) completed. (The form can be found in Portfolio Project Option 2 assignment, located in the Module 8 folder.)

Schedule L Balance Sheets per Books Beginning of tax year End of tax year Assets (a) (b) (c) (d) 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 . . . . . . . 6 Other current assets (attach statement) . . 7a Loans to partners (or persons related to partners) b Mortgage and real estate loans . . . . 8 Other investments (attach statement) . . . 9a Buildings and other depreciable assets . . b Less accumulated depreciation . . . . 10a Depletable assets . . . . . . . . . b Less accumulated depletion . . . . . 11 Land (net of any amortization) . . . . . 12a Intangible assets (amortizable only) . . . b Less accumulated amortization . . . . 13 Other assets (attach statement) . . . . 14 Total assets . . . . . . . . . . . Liabilities and Capital 15 Accounts payable . . . . . . . . . 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities (attach statement) . 18 All nonrecourse loans . . . . . . . . 19a Loans from partners (or persons related to partners) b Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities (attach statement) . . . . 21 Partners capital accounts . . . . . . 22 Total liabilities and capital . . . . . .