Needing help creating Balance Sheet, Single member LLC S-corp

[SCORP2]

Single shareholder LLC S-corp

What would my balance sheet look like in the following scenario:

Beginning balance in bank account: $10,000

Shareholder loan to S-corp: $250,000

Office building not yet completed by 12/31 but paid $200,000 so far towards building

PPP loan: 40,000

Income: $75,000

Salary: $20,000

Various Operating expenses: $25,000

Please type it up as a balance sheet with corresponding categories.

[Anonymous_]

Balance sheet issues are a pain, but you will probably need to provide more details.

In the meantime, I will page @Rick19744 and @Mike9241.

Your RE looks like it should be around $30k, but that will change with other data.

[SCORP2]

I need it typed up in categories like: 
Current assets

Equity

Liability etc

[Rick19744]

Understand what you would like, but we just have a snippet of activity and not a lot of details.

I would recommend you get something like Quickbooks as it will pull together a balance sheet for you.

Based on the limited details:

1. At one point you had cash as follows
   1. Contributed capital $10,000 - this is an assumption based on how you presented the information
   2. Loan $250,000
   3. PPP funds $40,000
   4. Income $75,000
   5. These total $375,000
2. Then you have expenses as presented:
   1. Salary $20,000
   2. Building $200,000
   3. Operating expenses $25,000
   4. These total $245,000

Based on the above, I would expect to see:

Assets:

Cash $130,000 

Construction in Progress $200,000

Total assets $330,000

Liabilities and Equity:

Shareholder loan $250,000

PPP Loan $40,000

Contributed capital $10,000

Retained earnings $30,000

Total liabilities and equity $330,000

This makes some sense as you indicate $75,000 income and $45,000 expenses which total $30,000 for the retained earnings.