Complete three tax returns

Assignment Help Taxation

Reference no: EM131179115

Complete three tax returns and all using the same data that is given below.

Provide the trial balances and everything included with each tax return. The tax returns need to be up to date tax returns so for example, a 2015 tax return.

Complette it one for a C corporation, an S corporation, and a Partnership.

If all 3 returns are done, and all the pre-work leading up to the tax returns is included, and it passes with at least a B on the first go around,

ABC COMPANY
TRIAL BALANCE
12/31/2014
	DR	CR
CASH-CHECKING	125,550
ACCOUNTS RECEIVABLE	243,650
INVENTORY	610,250
PROPERTY & EQUIPMENT	722,550
ACCUMULATED DEPRECIATION		235,475
ORGANIZATION EXPENSES	65,000
ACCUM. AMORTIZATION		13,000
ACCOUNTS PAYABLE		136,450
PAYROLL TAXES PAYABLE		4,250
NOTES PAYABLE-CURRENT		76,120
NOTES PAYABLE-LONG TERM		322,100
COMMON STOCK		100,000
RETAINED EARNINGS		543,784
DISTRIBUTIONS	50,000

SALES		4,912,470
PURCHASES	3,403,715
OFFICERS WAGES	250,000
WAGES	525,250
PAYROLL TAXES	50,020
REPAIRS & MAINTENANCE	6,500
RENT	48,000
INSURANCE	28,800
INTEREST EXPENSE	19,910
SUPPLIES	8,750
OFFICE SUPPLIES	5,260
MEALS & ENTERTAINMENT	3,580
TRANSPORTATION EXPENSES	11,400
DEPRECIATION	103,221
SEC 179 DEPREC	25,000
ADVERTISING	27,650
LEGAL & ACCOUNTING	3,260
AMORTIZATION	4,333
CONTRIBUTIONS	4,260
INTEREST INCOME		2,260


TOTAL	6,345,909	6,345,909

	4,528,909	4,914,730

BEGINNING INVENTORY	595,625

Reference no: EM131179115

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