Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fitness City Income Statement Month Ending April 30 Sales Revenue 195,795.00 Sales Discounts 650.00 Rent Revenue 2,031.70 Net Sales 193,113.30 Cost of Goods Sold 118,113.00

Fitness City
Income Statement
Month Ending April 30
Sales Revenue 195,795.00
Sales Discounts 650.00
Rent Revenue 2,031.70
Net Sales 193,113.30
Cost of Goods Sold 118,113.00
Gross Profit 75,000.30
Sales Salaries Expense 17,200.00
Advertising Expense 500.00
Store Supplies 2,700.00
Miscellaneous Selling 1,273.00
Office Salaries 10,500.00
Depreciation Equip 450.00
Insurance Expense 400.00
Office Supplies 1,200.00
Deprecitation Bldg 1,100.00
Miscellaneous Admin 1,109.00
Total 36,432.00
Operating Income 38,568.30
Rent Revenue 1,500.00
Interest Revenue 90.00
Interest Expense 700.00
Other Income Total 890.00
Net Income 39,458.30

I need help filling out a Form 1120 from the IRS tax form from this information

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Auditing Fundamentals And Techniques

Authors: J. Ladd Greeno

2nd Edition

091509410X, 978-0915094103

More Books

Students also viewed these Accounting questions

Question

Conduct an effective performance feedback session. page 360

Answered: 1 week ago