Question: what would a balance sheet look like for this? 52 BBBB, Inc. Balance Sheet December 31, 2019 Assets Liabilities Current Assets Cash Current Liabilities Taxes

what would a balance sheet look like for this? what would a balance sheet look like for this? 52 BBBB, Inc.

52 BBBB, Inc. Balance Sheet December 31, 2019 Assets Liabilities Current Assets Cash Current Liabilities Taxes Payable Note Payable-Land Total Current Liabilities $ 18,600 28.000 46,600 $ 151,000 8,000 159,000 Merchandise Inventory Total Current Assets Fixed Assets Land Long-Term Liabilities Note Payable-Bank Total Liabilities 100,000 146,600 30,000 Other Assets Security Deposit 6,000 Owners' Equity $ 5,000 43,400 Common Stock Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 48.400 Total 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 1st. On December 31, bought a truck for $40,000, cash. On December 31, paid $50,000 Paid 2018 taxes Tax rate is 30% and 2020 taxes will be paid in 2021. on the note payable to bank and $10,000 interest

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