Question: Help me answer this question by using the data I have attached below ... Develop a completed balance sheet and completed statement of deferred taxes
Help me answer this question by using the data I have attached below ...
"Develop a completed balance sheet and completed statement of deferred taxes and Valuation Equity report. Reference line items above on the B/S, Deferred Tax, and Valuation Equity reports using the item letters (a few examples are completed for you)."



11$E~E ED .9 Insert Table Chart Text Shape Media Collaborate Farmat Document Cash on hand and in checking account 113,000 b. Market value of all equipment 175,000 c. 2020 Income taxes paid in 2021 32,000 d, Cash operating expenses paid in 2021 618,000 Principal portion of 15year loan due in 2022 15,000 E Principal paid on 15-year loan during 2021 14,000 g, Inventories: Supplies 9,000 Insurance premiums for 2022 paid in Dec. 2021 20,500 Investment in local brewery made in 2016 for $50,000, estimated market value of $70,000 as of 12/31/21 7?? j, Change in accounts payable during 2021 1,500 k, Inventories: Completed goods 27,000 Principal balance on operating (short-term) loan 16,000 m, Accrued interest on 15year note 9,000 Accmed interest on operating (shortterm) loan 1,000 01 Rent for January 2022, paid in Dec 2021 5,000 p, Accumulated depreciation on equipment 110,000 Accrued income, social security, and payroll taxes 21,000 it 2022 liquor license fees, paid in Dec, 2021 4,000 5. Original cost of all equipment owned295,000 Legal/accountancy services used in 2021, bill not yet received 3,000 u, Accounts payable 39,000 v. T_0_tal principal balance on 15
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
