Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Form 1120 template with only page 1, page 2 (Schedule C) and page 5 (Schedule L) completed. Form 1120 template with only page 1, page

Form 1120 template with only page 1, page 2 (Schedule C) and page 5 (Schedule L) completed.

image text in transcribed

Form 1120 template with only page 1, page 2 (Schedule C) and page 5 (Schedule L) completed.

Corporation Entity Type: Sub-Entity Type: Entity Name: State of Formation Entity Start Date BADEC Tax Year Start Date: Tax Year End Date: 4/3/2013 12/31/2013 Book Maintained By: Address: Andrew Anderson 10 Sysco Way Atlanta, GA 30039 Purpose of Entity Acquire, rehabilitate and resale residential real property. Dividenda Received from investment in a domestic corporations with ownershi 70% Investor Information First N LASIM AN 10 9200 Way Manta Ananaa Alana STRIA GA GA A PI 30029 300391 3739 Farah CCM? Fawcell Con 758-12 GREE 29-12-7772 Contribution Contribution Contribution 4 T Vale N Contribution First Name Last Name 756-12-1111 6-12-2222 706-12-3333 756-12-4444 Contribution Date Contribution 4 ,92013 Cash 4 122013 Ch 4 222013 105 4 /22013 Cash Fancell 756 12-TTTT ce 19966 4 27013 2013 Toch Cash $90.09 Land $10,000 Computer S7000 Fue $3.000 TROLE BADEC Income Statement 1/1/2008-12/31/2008 BADEC Balance Sheet 1/2/2008 BADEC. Inc. 04/02/2013 - 12/31/2013 BADEC, Inc 4/2/2013 Assets Cash Computer Furniture Land Toral Assers Liabilities $ $ $ S $ 430 000 7000 3000 50.000 490,000 Gross Income Repair Revenue Interest Income Dividerds (Qualified Net Short-term Capital Gain Total Income from all sources S100 000 $600 $2.000 S5 000 S107,600 Equity $ $ Capital-Anderson Capital-Bacon Capital.Cox Capital-Day Capital-Eldiers Capital-Fawcett Capital Gonzalez Torel Liebesus Equity 50.000 150.000 100 000 50.000 40.000 80.000 20.000 490,000 $ $ $ Expenses Guaranteed payments Renovation Expertene Rent Depreciaton expense Licenses Travel Expenses Supplies Expenses Nel Long-term Capital Loss Charitable Contributions Total Expenses $10.000 $5,500 $1.500 $2.0186 $500 5800 $700 $10.000 S5.000 $36,066 Net Income (before federal income taxes $71.534 BADEC Balance Sheet 12.2008 BADEC Partnership 12/31/2013 Cash Dividend Distribution lo- Elders Cash Dividend Distribution to Fawcett Cash Dividend Distribution to Gonzalez S5 000 56 000 87.000 $ 3 Assets Cash Computer Accep-Computer Furniture Accep Furniture Land Total Assets Liabilities 485,600 7.000 (1.745) 9000 1321) 50.000 543,534 $ Equity 3 $ g Retained Earnings Stock Anderson Stock Bacon Stock Cox Stock Day Stock Elders Stock-Fawcett Stock-Gonzalez Total Liebwies plus Equity $ 53.534 50.000 150.000 100.000 50.000 40.000 80.000 20.000 543.534 $ $ Corporation Entity Type: Sub-Entity Type: Entity Name: State of Formation Entity Start Date BADEC Tax Year Start Date: Tax Year End Date: 4/3/2013 12/31/2013 Book Maintained By: Address: Andrew Anderson 10 Sysco Way Atlanta, GA 30039 Purpose of Entity Acquire, rehabilitate and resale residential real property. Dividenda Received from investment in a domestic corporations with ownershi 70% Investor Information First N LASIM AN 10 9200 Way Manta Ananaa Alana STRIA GA GA A PI 30029 300391 3739 Farah CCM? Fawcell Con 758-12 GREE 29-12-7772 Contribution Contribution Contribution 4 T Vale N Contribution First Name Last Name 756-12-1111 6-12-2222 706-12-3333 756-12-4444 Contribution Date Contribution 4 ,92013 Cash 4 122013 Ch 4 222013 105 4 /22013 Cash Fancell 756 12-TTTT ce 19966 4 27013 2013 Toch Cash $90.09 Land $10,000 Computer S7000 Fue $3.000 TROLE BADEC Income Statement 1/1/2008-12/31/2008 BADEC Balance Sheet 1/2/2008 BADEC. Inc. 04/02/2013 - 12/31/2013 BADEC, Inc 4/2/2013 Assets Cash Computer Furniture Land Toral Assers Liabilities $ $ $ S $ 430 000 7000 3000 50.000 490,000 Gross Income Repair Revenue Interest Income Dividerds (Qualified Net Short-term Capital Gain Total Income from all sources S100 000 $600 $2.000 S5 000 S107,600 Equity $ $ Capital-Anderson Capital-Bacon Capital.Cox Capital-Day Capital-Eldiers Capital-Fawcett Capital Gonzalez Torel Liebesus Equity 50.000 150.000 100 000 50.000 40.000 80.000 20.000 490,000 $ $ $ Expenses Guaranteed payments Renovation Expertene Rent Depreciaton expense Licenses Travel Expenses Supplies Expenses Nel Long-term Capital Loss Charitable Contributions Total Expenses $10.000 $5,500 $1.500 $2.0186 $500 5800 $700 $10.000 S5.000 $36,066 Net Income (before federal income taxes $71.534 BADEC Balance Sheet 12.2008 BADEC Partnership 12/31/2013 Cash Dividend Distribution lo- Elders Cash Dividend Distribution to Fawcett Cash Dividend Distribution to Gonzalez S5 000 56 000 87.000 $ 3 Assets Cash Computer Accep-Computer Furniture Accep Furniture Land Total Assets Liabilities 485,600 7.000 (1.745) 9000 1321) 50.000 543,534 $ Equity 3 $ g Retained Earnings Stock Anderson Stock Bacon Stock Cox Stock Day Stock Elders Stock-Fawcett Stock-Gonzalez Total Liebwies plus Equity $ 53.534 50.000 150.000 100.000 50.000 40.000 80.000 20.000 543.534 $ $

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

Step: 3

blur-text-image

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

Contemporary Debates On Politics And Public Administration In The Postmodern Era

Authors: Ă–mer Ugur, Kadir Caner Dogan

1st Edition

3631796331, 9783631796337

More Books

Students also viewed these Accounting questions