Can you show me how to fill out the information below on the 1120s form?
Thank you
ABC Inc., a S Corporation, 123 Oak Dr Houston TX 77002 EIN-74-1111111 Date S election effective- 1/1/2000 Date Incorporated 1/1/2000 Business Activity, retail sales (product-family clothing) Business Code 448140 . . The corporation is a cash basis business Gross Receipts $1,000,000 Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases are $400,000) ABC Inc. uses lower of cost or market for determining the cost of goods sold and the cash method for income and other expenses. Net income per books is $445,000. Compensation to Bee Jones is $200,000 Salaries and wages paid to non-shareholder employees are $50,000 . . . . Office Rent paid for corporate office is $10,000 Supplies expense totaled $40,000 The corporation received insurance proceeds of $150,000 for life insurance on a key executive. Relative insurance premiums paid for the year is $5,000. Beginning Balances: Accumulated Adjustments Account $100,000 Other Adjustments Account $ 25,000 There is no shareholder Undistributed Taxable Income (UTI). . There is no Accumulated Earnings and Profits (CEP). Hint: Don't forget to include the life insurance proceeds and life insurance premiums in the "Other Adjustments Account" on page 6 of the Form 1120S. There are no distributions made to the shareholders. The corporation has no debts. There are no earnings and profits of the corporation. No payments are made that would require the issuance of Forms 1099. Shareholder information is as follows: Partner Title Stock Residency SSN Address Bee Jones President 40 shares (40%) TX 222-22-2222 124 Oak Dr, Hou. TX 77002 John Smith Vice-President 40 shares (40%) TX 333-33-3333 125 Oak Dr, Hou. TX 77002 Julie Smart Secretary 20 shares (20%) TX 444-44-4444 126 Oak Dr, Hou TX 77002 Bee Jones materially participates in the day-to-day operations while John Smith and Julie Smart are passive investors. Assets: 1/1/2020 12/31/2020 Cash $ 250,000 $ 550,000 Land $2,500,000 $2,500,000 Total assets $2,750,000 $3,050,000 Liabilities and Shareholders' Equity: Capital Stock $ 100,000 $ 100,000 Unappropriated Retained Earnings 2,650,000 2,950,000 Total liabilities and shareholders' equity $2,750,000 $3,050,000ABC Inc., a S Corporation, 123 Oak Dr Houston TX 77002 EIN-74-1111111 Date S election effective- 1/1/2000 Date Incorporated 1/1/2000 Business Activity, retail sales (product-family clothing) Business Code 448140 The corporation is a cash basis business Gross Receipts $1,000,000 Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases are $400,000) ABC Inc. uses lower of cost or market for determining the cost of goods sold and the cash method for income and other expenses. Net income per books is $445,000. Compensation to Bee Jones is $200,000 Salaries and wages paid to non-shareholder employees are $50,000 Office Rent paid for corporate office is $10,000 Supplies expense totaled $40,000 The corporation received insurance proceeds of $150,000 for life insurance on a key executive. Relative insurance premiums paid for the year is $5,000. Beginning Balances: Accumulated Adjustments Account $100,000 Other Adjustments Account $ 25,000 There is no shareholder Undistributed Taxable Income (UTI). . There is no Accumulated Earnings and Profits (CEP). Hint: Don't forget to include the life insurance proceeds and life insurance premiums in the "Other Adjustments Account" on page 6 of the Form 1120S. There are no distributions made to the shareholders. The corporation has no debts. There are no earnings and profits of the corporation. No payments are made that would require the issuance of Forms 1099. Shareholder information is as follows: Partner Title Stock Residency SSN Address Bee Jones President 40 shares (40%) TX 222-22-2222 124 Oak Dr, Hou. TX 77002 John Smith Vice-President 40 shares (40%) TX 333-33-3333 125 Oak Dr, Hou. TX 77002 Julie Smart Secretary 20 shares (20%) TX 444-44-4444 126 Oak Dr, Hou. TX 77002 . Bee Jones materially participates in the day-to-day operations while John Smith and Julie Smart are passive investors. Assets: 1/1/2020 12/31/2020 Cash $ 250,000 $ 550,000 Land $2,500,000 $2,500,000 Total assets $2,750,000 $3,050,000 Liabilities and Shareholders' Equity: Capital Stock $ 100,000 $ 100,000 Unappropriated Retained Earnings 2,650,000 2,950,000 Total liabilities and shareholders' equity $2,750,000 $3,050,000ABC Inc., a S Corporation, 123 Oak Dr Houston TX 77002 EIN-74-1111111 Date S election effective- 1/1/2000 Date Incorporated 1/1/2000 Business Activity, retail sales (product-family clothing) Business Code 448140 The corporation is a cash basis business Gross Receipts $1,000,000 Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases are $400,000) ABC Inc. uses lower of cost or market for determining the cost of goods sold and the cash method for income and other expenses. Net income per books is $445,000. Compensation to Bee Jones is $200,000 Salaries and wages paid to non-shareholder employees are $50,000 Office Rent paid for corporate office is $10,000 Supplies expense totaled $40,000 The corporation received insurance proceeds of $150,000 for life insurance on a key executive. Relative insurance premiums paid for the year is $5,000. Beginning Balances: Accumulated Adjustments Account $100,000 Other Adjustments Account $ 25,000 There is no shareholder Undistributed Taxable Income (UTI). . There is no Accumulated Earnings and Profits (CEP). Hint: Don't forget to include the life insurance proceeds and life insurance premiums in the "Other Adjustments Account" on page 6 of the Form 1120S. There are no distributions made to the shareholders. The corporation has no debts. There are no earnings and profits of the corporation. No payments are made that would require the issuance of Forms 1099. Shareholder information is as follows: Partner Title Stock Residency SSN Address Bee Jones President 40 shares (40%) TX 222-22-2222 124 Oak Dr, Hou. TX 77002 John Smith Vice-President 40 shares (40%) TX 333-33-3333 125 Oak Dr, Hou. TX 77002 Julie Smart Secretary 20 shares (20%) TX 444-44-4444 126 Oak Dr, Hou. TX 77002 . Bee Jones materially participates in the day-to-day operations while John Smith and Julie Smart are passive investors. Assets: 1/1/2020 12/31/2020 Cash $ 250,000 $ 550,000 Land $2,500,000 $2,500,000 Total assets $2,750,000 $3,050,000 Liabilities and Shareholders' Equity: Capital Stock $ 100,000 $ 100,000 Unappropriated Retained Earnings 2,650,000 2,950,000 Total liabilities and shareholders' equity $2,750,000 $3,050,000ABC Inc., a S Corporation, 123 Oak Dr Houston TX 77002 EIN-74-1111111 Date S election effective- 1/1/2000 Date Incorporated 1/1/2000 Business Activity, retail sales (product-family clothing) Business Code 448140 The corporation is a cash basis business Gross Receipts $1,000,000 Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases are $400,000) ABC Inc. uses lower of cost or market for determining the cost of goods sold and the cash method for income and other expenses. Net income per books is $445,000. Compensation to Bee Jones is $200,000 Salaries and wages paid to non-shareholder employees are $50,000 Office Rent paid for corporate office is $10,000 Supplies expense totaled $40,000 The corporation received insurance proceeds of $150,000 for life insurance on a key executive. Relative insurance premiums paid for the year is $5,000. Beginning Balances: Accumulated Adjustments Account $100,000 Other Adjustments Account $ 25,000 There is no shareholder Undistributed Taxable Income (UTI). . There is no Accumulated Earnings and Profits (CEP). Hint: Don't forget to include the life insurance proceeds and life insurance premiums in the "Other Adjustments Account" on page 6 of the Form 1120S. There are no distributions made to the shareholders. The corporation has no debts. There are no earnings and profits of the corporation. No payments are made that would require the issuance of Forms 1099. Shareholder information is as follows: Partner Title Stock Residency SSN Address Bee Jones President 40 shares (40%) TX 222-22-2222 124 Oak Dr, Hou. TX 77002 John Smith Vice-President 40 shares (40%) TX 333-33-3333 125 Oak Dr, Hou. TX 77002 Julie Smart Secretary 20 shares (20%) TX 444-44-4444 126 Oak Dr, Hou. TX 77002 . Bee Jones materially participates in the day-to-day operations while John Smith and Julie Smart are passive investors. Assets: 1/1/2020 12/31/2020 Cash $ 250,000 $ 550,000 Land $2,500,000 $2,500,000 Total assets $2,750,000 $3,050,000 Liabilities and Shareholders' Equity: Capital Stock $ 100,000 $ 100,000 Unappropriated Retained Earnings 2,650,000 2,950,000 Total liabilities and shareholders' equity $2,750,000 $3,050,000