1) The image shows a completed schedule C using the cash method.Complete schedule C using the ACCRUAL...
Fantastic news! We've Found the answer you've been seeking!
Question:
1) The image shows a completed schedule C using the cash method.Complete schedule C using the ACCRUAL method.
2) Are there any differences between the 2018 and 2019forms?
Transcribed Image Text:
SCHEDULE C (Form 1040) Department of the Treasury Internal Revenue Service (99) F G H Name of proprietor RICK GRIME A Principal business or profession, including product or service (see instructions) LANDSCAPING с Business name. If no separate business name, leave blank. GREEN ACRES LANDSCAPING E I Part I Income W N 3 3 2 Returns and allowances. Subtract line 2 from line 1 Go to www.irs.gov/ScheduleC for instructions and the latest information. Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked. 5 6 Business address (including suite or room no.) 2123 4 Cost of goods sold (from line 42) 11 If "Yes," did you or will you file required Forms 1099? Profit or Loss From Business (Sole Proprietorship) City, town or post office, state, and ZIP code Accounting method: (1) Cash (2) Did you "materially participate" in the operation of this business during 2018? If "No," see instructions for limit on losses If you started or acquired this business during 2018, check here Did you make any payments in 2018 that would require you to file Form(s) 1099? (see instructions) Gross profit. Subtract line 4 from line 3 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) Gross income. Add lines 5 and 6 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising.. 8 1,160 9 Car and truck expenses (see instructions).. 10 Commissions and fees Contract labor (see instructions) Depletion 13 Depreciation and section 179 BUCKSNORT STREET SAN ANTONIO, TX 78208 Accrual (3) Other (specify) deduction (not expense included in Part II) (see instructions). 9 10 11 12 13 5,641 1,000 4,000 18 19 20 a b 21 22 23 24 Office expense (see instructions) Pension and profit-sharing plans Rent or lease (see instructions): Vehicles, machinery, and equipment Other business property Repairs and maintenance Supplies (not included in Part III) Taxes and licenses. Travel and meals: Social security number (SSN) 000-00-0000 B Enter code from instructions 5 7 16 30 D Employer ID number (EIN) (see instr.) oooooooo 0 0 1 2 3 4 5 6 7 OMB No. 1545-0074 2018 Attachment Sequence No. 09 18 19 20a 20b 21 22 23 DOI Yes Yes Yes DO 99,200 99,200 99,200 99,200 1,500 7,400 1,975 12,800 400 No No SCHEDULE C (Form 1040) Department of the Treasury Internal Revenue Service (99) F G H Name of proprietor RICK GRIME A Principal business or profession, including product or service (see instructions) LANDSCAPING с Business name. If no separate business name, leave blank. GREEN ACRES LANDSCAPING E I Part I Income W N 3 3 2 Returns and allowances. Subtract line 2 from line 1 Go to www.irs.gov/ScheduleC for instructions and the latest information. Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked. 5 6 Business address (including suite or room no.) 2123 4 Cost of goods sold (from line 42) 11 If "Yes," did you or will you file required Forms 1099? Profit or Loss From Business (Sole Proprietorship) City, town or post office, state, and ZIP code Accounting method: (1) Cash (2) Did you "materially participate" in the operation of this business during 2018? If "No," see instructions for limit on losses If you started or acquired this business during 2018, check here Did you make any payments in 2018 that would require you to file Form(s) 1099? (see instructions) Gross profit. Subtract line 4 from line 3 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) Gross income. Add lines 5 and 6 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising.. 8 1,160 9 Car and truck expenses (see instructions).. 10 Commissions and fees Contract labor (see instructions) Depletion 13 Depreciation and section 179 BUCKSNORT STREET SAN ANTONIO, TX 78208 Accrual (3) Other (specify) deduction (not expense included in Part II) (see instructions). 9 10 11 12 13 5,641 1,000 4,000 18 19 20 a b 21 22 23 24 Office expense (see instructions) Pension and profit-sharing plans Rent or lease (see instructions): Vehicles, machinery, and equipment Other business property Repairs and maintenance Supplies (not included in Part III) Taxes and licenses. Travel and meals: Social security number (SSN) 000-00-0000 B Enter code from instructions 5 7 16 30 D Employer ID number (EIN) (see instr.) oooooooo 0 0 1 2 3 4 5 6 7 OMB No. 1545-0074 2018 Attachment Sequence No. 09 18 19 20a 20b 21 22 23 DOI Yes Yes Yes DO 99,200 99,200 99,200 99,200 1,500 7,400 1,975 12,800 400 No No
Expert Answer:
Answer rating: 100% (QA)
Ans 1 Schedule C using Accrual Method Description Accrual Income Servicing Revenue Landscaping Reven... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Are there any differences for creating an effective delivery system? Who are the important stakeholders in a healthcare delivery system?
-
From the standpoint of management, are there any differences between attempting to control bad debt expense percentages and research and development expenses?
-
a. Are there any differences between the basic functions of marketing research in a domestic environment and those in an international environment? b. Why is the international research process...
-
You are an audit supervisor of PricewaterhouseCoopers (PwC) and are planning the audit of your client, Blister Pharmaceuticals co. which manufactures and imports sanitary and cleaning products...
-
Voeller, the managing partner of the Pay-Out Drive-In Theater, signed a contract to sell to Hodge a small parcel of land belonging to the partnership. Except for the last twenty feet, which were...
-
Managers, investors, and creditors usually have a specific focus when making decisions about a business. Required: Each of the following independent cases asks one or more questions. Identify the...
-
Several years ago Puma Athletics acquired all of the outstanding stock of Serengeti Footwear. The acquisition cost was \($40\) million in excess of Serengeti's book value of \($10\) million,...
-
Ophir Investments Inc. is a regional investment company that began operations on January 1, 2012. The following transactions relate to trading securities acquired by Ophir Investments Inc., which has...
-
Last January, Abby started a new business named Abby's Blinds, Curtains, & Dining Essentials, or ABC&DE for short. In her business, Abby, who has always loved arts and crafts, designs unique i...
-
You are working on a free-form Packet Tracer challenge activity as seen in Figure 1, you have been given the London Railways network.' The purpose of this EMA question is to build upon each of the...
-
P Find each arc length. Round to the nearest hundredth. 1. If TR= 11 ft, find the length of PS. U r 3. If YV = 28 in, find the length of VYX. 117" S D R 16 68 5. If EB = 15 cm, find the length of CD....
-
Transactions for Your, Corp in 2020 Purchase of Delivery Truck $60,000 Sale of Delivery Truck $10,000 Purchase of building by signing a Note Payable $150,000 Payment of dividends $5,000 Sale of stock...
-
B2B Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment costs $382,400 and has a 10-year life and no salvage value. B2B...
-
4. Complete the following cash budget: Cash Budget April May June Quarter Cash balance, beginning $8,000 Add cash collections 56,000
-
Please help me to answer this question . Please show your work. Dieyard Battery Recyclers is considering a project with the following cash flows: Initial Outlay = ($15,000) Cash Flows: Year 1 =...
-
Compute the weakest precondition for each of the following statements and postconditions: (1) a = 5 * (c (2) x = 3 * Y 3) + 7 (a > 12) x + 5 {x < 8} (3) a= (2 b + 3); b = 5a + 3; {b < 8} (4) if (x >...
-
Respond to the following scenario by, Identify barriers, specific to the client's context that might limit therapeutic success. Provide a brief, clear outline of how to implement CBT in this...
-
Modify the CYK algorithm so that it applies to any CFG, not just those in CNF.
-
In June of 2012, Maureen's house is vandalized during a long-term power failure after a hurricane hit the city. The president of the United States declares Maureen's city a disaster area as a result...
-
Mary paid $2,000 of state income taxes in 2012. The total sales tax she paid during 2012 was $5,500, which included $3,000 for the cost of a new car. How should Mary treat the taxes paid on her 2012...
-
Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....
-
In baseball analogy, who would be the auditee? a. Pitcher b. Catcher c. Manager d. Umpire e. Some other answer
-
What internal control framework is used most often in the United States? a. Auditing Standard No. 2 b. SAS No. 99 c. COBIT d. \(\operatorname{COSO}\) e. Some other framework
-
Which would not be one of the six legs on the six-legged table of financial statements? a. The IRS b. Management c. External auditors d. PCAOB e. Board of Directors
Study smarter with the SolutionInn App