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Homework answers / question archive / Option #1: Corporate Tax Returns For this project you will complete a corporate tax return and provide an analysis of the ethical considerations related to tax preparation involving corporations
For this project you will complete a corporate tax return and provide an analysis of the ethical considerations related to tax preparation involving corporations.
Key Components:
Use the financial data below to complete Form 1120.
Complete the Student Template (provided in Module 8 under this assignment) that has the respective tax forms and schedules required to complete the return. Complete all the parts of your respective business tax return for which there is information.
Click this link to download Form 1120 (Links to an external site.) from IRS.gov. Complete the return for BADEC.
In a separate document:
Requirements:
Submit 1) your tax return template, 2) Income tax calculations, and 3) your analysis of the ethical considerations related to tax preparations involving corporations.
BADEC Corporation |
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12/31/2016 |
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Assets |
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Cash |
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$485,600 |
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Computer |
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$7,000 |
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AccDep-Computer |
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$(1,745) |
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Furniture |
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$3,000 |
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AccDep-Furniture |
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$(321) |
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Land |
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$50,000 |
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Total Assets |
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$543,534 |
Liabilities |
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Equity |
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Retained Earnings |
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$53,534 |
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Stock-Anderson |
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$50,000 |
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Stock-Bacon |
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$150,000 |
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Stock-Cox |
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$100,000 |
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Stock-Day |
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$50,000 |
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Stock-Elders |
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$40,000 |
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Stock-Fawcett |
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$80,000 |
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Stock-Gonzalez |
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$20,000 |
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Total Liabilities plus Equity |
$543,534 |
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