Do the formal income statement and formal balance sheet. Bebang Inc is the company name and year 2020. Withholding Tax Payable 203(15)(31)SSS & Medicare Payable 204(31)150.00375.00150.00Patrick, Capital 300(2)Patrick, Drawing 30150073,500.00(25)Purchases 40012,000.005,000.006,000.003,000.003,000.00Purchase Returns & Allow. 400-1(2)(8)(8)(11)(19)(25)(10)(13)500.00500.00300.00Freight in 400-3500.00Purchase Discounts 400-2(18)100.00(21)Salary Expense 4027,500.007,500.00Taxes and Licenses 403(15)(31)(3)500.00Rent Expense 4047,500.00Interest Expense 49962.50(4)(7)Sales 500Sales Returms & Allow. 500-1200.002,000.007,500.002,570.006,400.002,500.003,000.00(12)(13)(7)(9)(14)(16)(17)(17)(31)120.007,500.00Sales Discounts 500-2Interest Income 599(17)96.00(22)6.67同 Cash 10155,000.004,937.50500.00(9)(17)(17)5,000.002,500.003,000.00Accounts Receivable 103(12)(17)(27)200.004,800.003,000.00500,00(2)(7)(9)(12)(13)(14)(16)(17)(22)(3)(4)(8)(10)(11)(12)(14)(15)(18)(18)(19)(21)(23)(26)(31)(31)7,500.001,000.00855.003,000.004,900.00500.007,350.00120.00200.00300.002,570.006,400.004,704.002,006.673,000.002,000.007,500.00Advances to Employees 105(31)Bal(26)500.00200.004,400.00600.00500.005,500.00500.00(29)(31)Supplies 107855.00(10)(12)200.005,000.006,775.00Notes Receivable 1042,000.00(22)2,000.00(29)Fumiture & Fixtures 120(7)(6).2,000.002,000.00(2)7,500.00(5)Office Equipment 1305,000.00(12)100.00Store Equipment 1315,000.00(20)Accounts Payable 200(2)(5)(8)(8)(19)(20)Notes Payable 2015,500.00(8)(10)(12)(13)(14)(18)(31)1,000.001,000.005,000.005,000.006,000.001,400.005,000.005,000.005,500.001,000.00(23)(7)(13)(19)500.005,000.005,500.00500.004,500.005,000.00

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Description: Do the formal income statement and formal balance sheet. Bebang Inc is the company name and year 2020. Withholding Tax Payable 203(15)(31)SSS & Medicare Payable 204(31)150.00375.00150.00Patrick, Capital 300(2)Patrick, Drawing 30150073,500.00(25)Purch

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Do the formal income statement and formal balance sheet. Bebang Inc is the company name and year 2020.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 9DQ

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