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I need help with this Intuit pro connect Tax problem. please share the input screen from software and as well as output screen on where
I need help with this Intuit pro connect Tax problem. please share the input screen from software and as well as output screen on where the numbers will I put in and where th numbers I can see on 1120, Schedule L and M1 and M2
On November 1, 2009, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows: - Pet Kingdom's business address is 1010 Northwest Parkway, Dallas, TX 75225; its telephone number is (214) 555-2211; and its e-mail address is petkingdom@ pki.com. - The employer identification number is 11-1111112, and the principal business activity code is 453910. - Janet and Kim each own 50% of the common stock; Janet is president and Kim is vice president of the company. No other class of stock is authorized, - Both Janet and Kim are full-time employees of Pet Kingdom. Janet's Social Security number is 123-45-6788, and Kim's Social Security number is 123-45-6787. - Pet Kingdom is an accrual method, calendar year taxpayer. Inventories are determined using FIFO and the lower of cost or market method. Pet Kingdom uses the straight-line method of depreciation for book purposes and accelerated depreciation (MACRS) for tax purposes. - During 2020, the corporation distributed cash dividends of $250,000. Pet Kingdom's financial statements for 2020 are shown below. 'Depreciation for tax purposes is $136.000 You ate not provided encugh detalled daca to complete a form 4562 (deprecistioni. If you volve thit problem using intuit Poconnect enter the amourt of depreciation on line 20 of form 1120 During 2020, Pet Kingdom made extimated tax payments of $56.000 each quartet to the IES. Prepare Pet Kingdom's corporate tax return for tax year 2020 using Form 1120 (and any other appropriate forms and schedules). Suggested sofrware- ProConnect Tix. On November 1, 2009, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows: - Pet Kingdom's business address is 1010 Northwest Parkway, Dallas, TX 75225; its telephone number is (214) 555-2211; and its e-mail address is petkingdom@ pki.com. - The employer identification number is 11-1111112, and the principal business activity code is 453910. - Janet and Kim each own 50% of the common stock; Janet is president and Kim is vice president of the company. No other class of stock is authorized, - Both Janet and Kim are full-time employees of Pet Kingdom. Janet's Social Security number is 123-45-6788, and Kim's Social Security number is 123-45-6787. - Pet Kingdom is an accrual method, calendar year taxpayer. Inventories are determined using FIFO and the lower of cost or market method. Pet Kingdom uses the straight-line method of depreciation for book purposes and accelerated depreciation (MACRS) for tax purposes. - During 2020, the corporation distributed cash dividends of $250,000. Pet Kingdom's financial statements for 2020 are shown below. 'Depreciation for tax purposes is $136.000 You ate not provided encugh detalled daca to complete a form 4562 (deprecistioni. If you volve thit problem using intuit Poconnect enter the amourt of depreciation on line 20 of form 1120 During 2020, Pet Kingdom made extimated tax payments of $56.000 each quartet to the IES. Prepare Pet Kingdom's corporate tax return for tax year 2020 using Form 1120 (and any other appropriate forms and schedules). Suggested sofrware- ProConnect Tix Step by Step Solution
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