Complete the form 1120 for jkeb corporation

Assignment Help Taxation

Reference no: EM131179312

Tax Return

Use the following information for JKEB Corporation to complete pages 1 through 3 of the 2011 Form 1120.

Address: 1994 Lincoln St, Township, FL 34691

Employer Identification Number: 98- 325465

Date Incorporated: 01-01-11

Accounting Method: Accrual

Use the following link to determine the principal business activity code:

• IRS Form 1120

JKEB Corporation's activities are focused more on sporting goods than apparel. They are not a subsidiary of another corporation and no entity owns more than 20% of JKEB Inc.

Total Assets	$2,250,000
Total Receipts/Sales	$3,750,000
Returns and Allowances	$187,500
Cost of Goods Sold	$950,000
Dividends from less than 20% owned investees	$300,000
Dividends from 20% or more owned investees	$15,000
Interest	$5,000
Income from store vending machines	$1,500
Salaries and Wages	$150,000
Bad Debts	$12,500
Rent	$40,000
Charitable contributions during 2011	$2,000
Advertising	$5,000
Repairs	$2,750
Tax Deposits during 2011	$10,000

Reference no: EM131179312

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