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Jan 24, 2010 Income 4 6 39 LTD 12 ON From 1120-5 U.S. Income Tax Return for an S Corporation Demo formas de 2019 in Form 283 to become For Galendar year 2010 rty hagin ote www.report for wine and the latest Information 2019. 20 D "Bottle-up inc XXXXXXX TYPE OR PRINT 12.34Hill Stree ORG CORSA At ST 33233 the corporation electing to be an corporation beginning with this tax year? Yes No yesach Form2563 Orendy tiled Check mo naletum are change Address charge Amended return section to recation Enter the number of shareholders who were shareholders during any part of the tax year Check it corporation Aggregated acted for section purposes Grouped activities for section to covey purpos Caution include only trade or business income and expenses on lines in throun 21. See the motructions for more on to Gross receipts or sales 10 25.00 DDD Returns and allowances 1b GIODO Balance Subtract line 1b from inela 10 2.495 ODD 2 Cost of goods sold attach Form 1125-A 1.214,000 3 3 Gross profit. Subtract line 2 from line 10 1.191.000 4 Net gain foss) from Form 4797, line 17 (attach Form 4797 5 5 Other income foss) bee instructions-attach statement 6 Total income foss). Add lines through 5 LADO 7 7 Compensation of officers (see instructions -attach Form 1125-E) 8 Salaries and wages (less employment credits) 451.020 9 9 Repairs and maintenance 37 ODD 10 10 Bad debts 20 11 11 Rents 20DDD Taxes and licenses 12 13 Interest (see instructions) 13 14 14 Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) 15 15 Depletion (Do not deduct oil and gas depletion.) 16 Advertising 16 17 Pension profit-sharing, eto, plans 17 18 Employee benefit programs 18 Other deductions (attach statement) 19 20 Total deductions. Add lines 7 through 19 20 21 Ordinary business income loss). Subtract line 20 from line 6 21 22a Excess net passive income or LIFO recapture tax (see instructions) 22a b Tax from Schedule (Form 1120-S) 22b Add lines 22 and 22b (see instructions for additional taxes) 22c 23a 2019 estimated tax payments and 2018 overpayment credited to 2019 23a b Tax deposited with Form 7004 23b Credit for federal tax paid on fuels (attach Form 4136) 23c d Reserved for future uso 23d Add lines 23a through 23d 23e 24 Estimated tax penalty (see instructions). Check if Form 2220 is attached 24 25 Amount owed. If line 23e is smaller than the total of lines 220 and 24, enter amount owed 25 26 Overpayment. If line 23e is larger than the total of lines 22c and 24, enter amount overpaid 26 27 Enter amount from line 26: Credited to 2020 estimated tax Refunded 27 Under penalties of perjury, I declare that ruve examined this return, including accompanying schedules and statements, and to the best of my knowledge and Sign belief, it is true, correct, and complete. Declaration of prepare other than payer) is based on all information of which preparer has any nonledge May the RS is this return ere with the prepare shown below Signature of officer Date Title See instructions. Yes No PrintType preparer's name aid Preparer's signature Date Check OPTIN employed eparer Firm's name F'S EN Ee Only Firm's address Phone no Paperwork Reduction Act Notice, see separate instructions. Cat No. 11510H Form 1120-S 201 Deductions se instructions for inition 19 c C Tax and Payments e C11-61 Botte-Up. Ine was organized on January 2010. ond made a section on Jawy 24, 2018 The necessary condents to the election were tied in a timely maveria 124 Ch tomu calendar year as to take the accruauto et scuting and the Best on FF) mero boete manufactures mareste imade no changes to the very costing method is you see Whentication method for bad debts for book and tax purposes. Herman Hotels w 500 m in matery participaten Bome- Unge av Herman Heberatan matapon Fearow to Bom Up for me current yew are shown totes C.11.2014 Pra 2019 Scorporation Botte-Up showing yourse paid prepare Bottle Up, Inc. Income Statement for the Year Ended December 31 of the Current Year (Problem C:11-410) Sales $2,500,000 Return and allowances 115.000 Net als 52.485.000 Beginning inventory $102.000 Purchases 900.000 Labor (W-2 wages) 200,000 Supplies 80.000 Utilities 100,000 Other manufacturing costs 188.000 Goods available for sale 51.570,000 Ending inventory (96.000) 1.474.000 Gross probit 51,011,000 Salaries $ 451.020 Unities expense 54,000 Depreciation (MACRS depreciation is $36,311) 11.782 Automobile and truck expense 26.000 Office supplies expense 9,602 Advertising expense 105,000 Bad debts expense 30,000 Rent expertise Interest expenses 1.500 Meak and entertainment expense" 12,500 Selling expenses 108,500 Repairs and maintenance expense 38.000 Accounting and legal expense 4.500 Charitable contributions 9,000 620 24,500 11,000 36,980 2.500 1.000 938,0043 $72.996 Insurance expense Hourly employees fringe benefits Payroll taxes Other taxes Penaltes (fines for overweight trucks) Operating profit Other income and losses Long-term gain on sale of capital assets Sec 1231 loss Interest on U.S. Treasury bills Interest on State of Florida bonds Dividends from domestic corporations Investment expenses Net income $ 48,6669 (1.1007 1.200 600 11.600 (600 60365 $ 133,362 Officer salaries of $120.000 are included in the total All are employw wages The AMT depreciation astment on personal property is 39,000 Investment interest expense is 3500. Al other interest expenses trade or bused None of the interest pense relates to the production of tacem income of 512.500 to 54,000 located to meals and 58.500 located to entertainment * The corporation made all contributions in cash to quallying charities indude 53.000 el premium pod for polices on les of corporate offers come up the beneficiary for den polos The corporation acquired the capital assets on March 3. 2017 for $100.000 and sold them on September 15, 2019, for 5148.666 The corporation card the Sec 1231 property on 5. 2018 for $10,000 and sold to December 21, 2013. for 300 Table C:11-3 Bottle-Up, Inc. Balance Sheet for January 1 and December 31 of the Current Year (Problem C:11-610) January 1 December 31 Assets Cash Accounts receivable Inventories Stocks Treasury bills State of Florida bonds Building and equipment Minus: Accumulated depreciation Land Total $ 15,000 41,500 102,000 103,000 15,000 10,000 375,434 (161,318) 160,000 $660,616 $116,948 45,180 96,000 74,000 16,000 10,000 375,000 (173,100) 190.000 $750,028 Liabilities and equities: Accounts payable Accrued salaries payable Payroll taxes payable Sales taxes payable Due to Mr. Hiebert Mortgage and notes payable (current maturities) Long-term debt Capital stock Retained earnings Total $ 36,000 12,000 3,416 5,200 10,000 44,000 210,000 10,000 330,000 5660,616 $ 10,000 6,000 7,106 6,560 5,000 52,000 260,000 10,000 393,362 $750,028 Table C:11-4 Bottle-Up, Inc. Statement of Change in Retained Earnings for the Current Year Ended December 31 (Problem C:11-610) Balance, lanuary 1 Plus Net income Minus Dividends $330,000 $133,362 (70,000) 63,362 Balance, December 31 5393,362 The January 1 accumulated adjustments account balance is 5274.300 Jan 24, 2010 Income 4 6 39 LTD 12 ON From 1120-5 U.S. Income Tax Return for an S Corporation Demo formas de 2019 in Form 283 to become For Galendar year 2010 rty hagin ote www.report for wine and the latest Information 2019. 20 D "Bottle-up inc XXXXXXX TYPE OR PRINT 12.34Hill Stree ORG CORSA At ST 33233 the corporation electing to be an corporation beginning with this tax year? Yes No yesach Form2563 Orendy tiled Check mo naletum are change Address charge Amended return section to recation Enter the number of shareholders who were shareholders during any part of the tax year Check it corporation Aggregated acted for section purposes Grouped activities for section to covey purpos Caution include only trade or business income and expenses on lines in throun 21. See the motructions for more on to Gross receipts or sales 10 25.00 DDD Returns and allowances 1b GIODO Balance Subtract line 1b from inela 10 2.495 ODD 2 Cost of goods sold attach Form 1125-A 1.214,000 3 3 Gross profit. Subtract line 2 from line 10 1.191.000 4 Net gain foss) from Form 4797, line 17 (attach Form 4797 5 5 Other income foss) bee instructions-attach statement 6 Total income foss). Add lines through 5 LADO 7 7 Compensation of officers (see instructions -attach Form 1125-E) 8 Salaries and wages (less employment credits) 451.020 9 9 Repairs and maintenance 37 ODD 10 10 Bad debts 20 11 11 Rents 20DDD Taxes and licenses 12 13 Interest (see instructions) 13 14 14 Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) 15 15 Depletion (Do not deduct oil and gas depletion.) 16 Advertising 16 17 Pension profit-sharing, eto, plans 17 18 Employee benefit programs 18 Other deductions (attach statement) 19 20 Total deductions. Add lines 7 through 19 20 21 Ordinary business income loss). Subtract line 20 from line 6 21 22a Excess net passive income or LIFO recapture tax (see instructions) 22a b Tax from Schedule (Form 1120-S) 22b Add lines 22 and 22b (see instructions for additional taxes) 22c 23a 2019 estimated tax payments and 2018 overpayment credited to 2019 23a b Tax deposited with Form 7004 23b Credit for federal tax paid on fuels (attach Form 4136) 23c d Reserved for future uso 23d Add lines 23a through 23d 23e 24 Estimated tax penalty (see instructions). Check if Form 2220 is attached 24 25 Amount owed. If line 23e is smaller than the total of lines 220 and 24, enter amount owed 25 26 Overpayment. If line 23e is larger than the total of lines 22c and 24, enter amount overpaid 26 27 Enter amount from line 26: Credited to 2020 estimated tax Refunded 27 Under penalties of perjury, I declare that ruve examined this return, including accompanying schedules and statements, and to the best of my knowledge and Sign belief, it is true, correct, and complete. Declaration of prepare other than payer) is based on all information of which preparer has any nonledge May the RS is this return ere with the prepare shown below Signature of officer Date Title See instructions. Yes No PrintType preparer's name aid Preparer's signature Date Check OPTIN employed eparer Firm's name F'S EN Ee Only Firm's address Phone no Paperwork Reduction Act Notice, see separate instructions. Cat No. 11510H Form 1120-S 201 Deductions se instructions for inition 19 c C Tax and Payments e C11-61 Botte-Up. Ine was organized on January 2010. ond made a section on Jawy 24, 2018 The necessary condents to the election were tied in a timely maveria 124 Ch tomu calendar year as to take the accruauto et scuting and the Best on FF) mero boete manufactures mareste imade no changes to the very costing method is you see Whentication method for bad debts for book and tax purposes. Herman Hotels w 500 m in matery participaten Bome- Unge av Herman Heberatan matapon Fearow to Bom Up for me current yew are shown totes C.11.2014 Pra 2019 Scorporation Botte-Up showing yourse paid prepare Bottle Up, Inc. Income Statement for the Year Ended December 31 of the Current Year (Problem C:11-410) Sales $2,500,000 Return and allowances 115.000 Net als 52.485.000 Beginning inventory $102.000 Purchases 900.000 Labor (W-2 wages) 200,000 Supplies 80.000 Utilities 100,000 Other manufacturing costs 188.000 Goods available for sale 51.570,000 Ending inventory (96.000) 1.474.000 Gross probit 51,011,000 Salaries $ 451.020 Unities expense 54,000 Depreciation (MACRS depreciation is $36,311) 11.782 Automobile and truck expense 26.000 Office supplies expense 9,602 Advertising expense 105,000 Bad debts expense 30,000 Rent expertise Interest expenses 1.500 Meak and entertainment expense" 12,500 Selling expenses 108,500 Repairs and maintenance expense 38.000 Accounting and legal expense 4.500 Charitable contributions 9,000 620 24,500 11,000 36,980 2.500 1.000 938,0043 $72.996 Insurance expense Hourly employees fringe benefits Payroll taxes Other taxes Penaltes (fines for overweight trucks) Operating profit Other income and losses Long-term gain on sale of capital assets Sec 1231 loss Interest on U.S. Treasury bills Interest on State of Florida bonds Dividends from domestic corporations Investment expenses Net income $ 48,6669 (1.1007 1.200 600 11.600 (600 60365 $ 133,362 Officer salaries of $120.000 are included in the total All are employw wages The AMT depreciation astment on personal property is 39,000 Investment interest expense is 3500. Al other interest expenses trade or bused None of the interest pense relates to the production of tacem income of 512.500 to 54,000 located to meals and 58.500 located to entertainment * The corporation made all contributions in cash to quallying charities indude 53.000 el premium pod for polices on les of corporate offers come up the beneficiary for den polos The corporation acquired the capital assets on March 3. 2017 for $100.000 and sold them on September 15, 2019, for 5148.666 The corporation card the Sec 1231 property on 5. 2018 for $10,000 and sold to December 21, 2013. for 300 Table C:11-3 Bottle-Up, Inc. Balance Sheet for January 1 and December 31 of the Current Year (Problem C:11-610) January 1 December 31 Assets Cash Accounts receivable Inventories Stocks Treasury bills State of Florida bonds Building and equipment Minus: Accumulated depreciation Land Total $ 15,000 41,500 102,000 103,000 15,000 10,000 375,434 (161,318) 160,000 $660,616 $116,948 45,180 96,000 74,000 16,000 10,000 375,000 (173,100) 190.000 $750,028 Liabilities and equities: Accounts payable Accrued salaries payable Payroll taxes payable Sales taxes payable Due to Mr. Hiebert Mortgage and notes payable (current maturities) Long-term debt Capital stock Retained earnings Total $ 36,000 12,000 3,416 5,200 10,000 44,000 210,000 10,000 330,000 5660,616 $ 10,000 6,000 7,106 6,560 5,000 52,000 260,000 10,000 393,362 $750,028 Table C:11-4 Bottle-Up, Inc. Statement of Change in Retained Earnings for the Current Year Ended December 31 (Problem C:11-610) Balance, lanuary 1 Plus Net income Minus Dividends $330,000 $133,362 (70,000) 63,362 Balance, December 31 5393,362 The January 1 accumulated adjustments account balance is 5274.300