Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to complete a 2018 Form 1120 for BADEC, Inc. I need the Form 1120 , Schedule C , Schedule J , Schedule K

I need to complete a 2018 Form 1120 for BADEC, Inc.

I need the Form 1120, Schedule C, Schedule J, Schedule K, Schedule L, Schedule M-1, and Schedule M-2.

Please do not copy and paste any answers that were already posted on Chegg, they are NOT for 2018.

image text in transcribed

image text in transcribed

image text in transcribedimage text in transcribed

image text in transcribed

Option #1: Corporate Tax Returns Review the grading rubric below to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment. Because it is important for accountants to demonstrate the filing requirements for specialized tax returns, for this final project you will complete a corporate tax return and provide an analysis of the ethical considerations related to tax preparation involving corporations Key Components: Use the financial data below to complete Form 1120. Complete the Student Template (provided in Module 8 under this assignment) that has the respective tax forms and schedules required to complete the return. Complete all the parts of your respective business tax return for which there is information. Click this link to download Form 1120e from IRS.gov. Complete the return for BADEC In a separate document: 1. Show your income tax calculations. 2. Prepare a write-up on analysis of the ethical considerations related to tax preparation. Entity Type: Sub-Entity Type Entity Namo: State of Formation Corporation None BADEC Georgie 4/2/2013 Entity Siart Date Tax Year Start Date: 4/2/2013 1231 2013 Tax Year End Date: Book Maintained By: Andrew Anderson 10 Sysco Way Atanta, GA 30039 Addre55: Purpose of Entity Acquire rehabilitate and resale residertial real property. Corporate Intormation rem nvestmen iha domastic corporations with ownersh Dividonda Recaived Estimated Tax Payments 70% 6.00 Investor Information sharchoder /N GA holdor Not ntribubicn Imestor iors rest Item Value Hem SSN First Name Last Name Cox 0.000 40.00 BADEC Income Statement BADEC Balance Sheet 1/2/2008 1/1/2008-12/31/2008 BADEC. Inc. BADEC, Inc 4/2 2013 04/02/2013-12/31/2013 Gross Inoorme Assets Cash Compute Furniture Repair Revenue S430.000 7.000 $ 3.000 50.000 490.000 S100,000 $600 Interest Income Divicerds (Qualitied Net Short-term Captal Gain $2.000 Land S5.000 Total Assets Total Income from all sources S107,600 Liabilities Equity Expenses 50000 Capital-Anderson Capital-8acon Capital-Cox Capital-Dajy Capital-Elders Capital-Favcett Capital Gonzalez S 150,000 $ 100.000 $ 50.000 40.000 $80.000 S 20 000 $10,000 Guaranmeed payments Renovation Expenee $5,500 $1,500 $2.066 Rent Depreciaton expense Licenses $500 Travel Expenses Supplies Expanses Net Long-lerm Capital Loss $800 S 490,000 Tofal Liabieties ps Equity $700 $10.000 Charitable Contributione S5,000 Total Expenses $36,066 BADEC Balance Sheet Net Ircome (before federal inorme taxes 71 534 1/2/2008 BADEC Partnership 12.31/2013 S5,000 Cash Dvidend Disiributian lo- Elders Cash Dividend Distribution to- Fawcett $6,000 Assets Cash Dvidend Distnibution to- Gonzalez S7,000 Cash Computer 485,600 $ 7000 3(1.745) 3.0C00 $321) 50.000 AccDep-Computer Furniture AccDep Furniture Land Tolaf Aseefs 543.534 Liabilities Equity Retaned Earnings Stpck-Anderson 3 53.534 $ 50,000 150.000 $ 100.000 S 50,000 40.000 Stock Bacon Stock-Cox Stock-Day Stock Ekders Stock-Fawoett $ 80.000 20.000 Stock-Gonzalez 3 543.534 Total Liabides Equity Option #1: Corporate Tax Returns Review the grading rubric below to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment. Because it is important for accountants to demonstrate the filing requirements for specialized tax returns, for this final project you will complete a corporate tax return and provide an analysis of the ethical considerations related to tax preparation involving corporations Key Components: Use the financial data below to complete Form 1120. Complete the Student Template (provided in Module 8 under this assignment) that has the respective tax forms and schedules required to complete the return. Complete all the parts of your respective business tax return for which there is information. Click this link to download Form 1120e from IRS.gov. Complete the return for BADEC In a separate document: 1. Show your income tax calculations. 2. Prepare a write-up on analysis of the ethical considerations related to tax preparation. Entity Type: Sub-Entity Type Entity Namo: State of Formation Corporation None BADEC Georgie 4/2/2013 Entity Siart Date Tax Year Start Date: 4/2/2013 1231 2013 Tax Year End Date: Book Maintained By: Andrew Anderson 10 Sysco Way Atanta, GA 30039 Addre55: Purpose of Entity Acquire rehabilitate and resale residertial real property. Corporate Intormation rem nvestmen iha domastic corporations with ownersh Dividonda Recaived Estimated Tax Payments 70% 6.00 Investor Information sharchoder /N GA holdor Not ntribubicn Imestor iors rest Item Value Hem SSN First Name Last Name Cox 0.000 40.00 BADEC Income Statement BADEC Balance Sheet 1/2/2008 1/1/2008-12/31/2008 BADEC. Inc. BADEC, Inc 4/2 2013 04/02/2013-12/31/2013 Gross Inoorme Assets Cash Compute Furniture Repair Revenue S430.000 7.000 $ 3.000 50.000 490.000 S100,000 $600 Interest Income Divicerds (Qualitied Net Short-term Captal Gain $2.000 Land S5.000 Total Assets Total Income from all sources S107,600 Liabilities Equity Expenses 50000 Capital-Anderson Capital-8acon Capital-Cox Capital-Dajy Capital-Elders Capital-Favcett Capital Gonzalez S 150,000 $ 100.000 $ 50.000 40.000 $80.000 S 20 000 $10,000 Guaranmeed payments Renovation Expenee $5,500 $1,500 $2.066 Rent Depreciaton expense Licenses $500 Travel Expenses Supplies Expanses Net Long-lerm Capital Loss $800 S 490,000 Tofal Liabieties ps Equity $700 $10.000 Charitable Contributione S5,000 Total Expenses $36,066 BADEC Balance Sheet Net Ircome (before federal inorme taxes 71 534 1/2/2008 BADEC Partnership 12.31/2013 S5,000 Cash Dvidend Disiributian lo- Elders Cash Dividend Distribution to- Fawcett $6,000 Assets Cash Dvidend Distnibution to- Gonzalez S7,000 Cash Computer 485,600 $ 7000 3(1.745) 3.0C00 $321) 50.000 AccDep-Computer Furniture AccDep Furniture Land Tolaf Aseefs 543.534 Liabilities Equity Retaned Earnings Stpck-Anderson 3 53.534 $ 50,000 150.000 $ 100.000 S 50,000 40.000 Stock Bacon Stock-Cox Stock-Day Stock Ekders Stock-Fawoett $ 80.000 20.000 Stock-Gonzalez 3 543.534 Total Liabides Equity

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

Cost Determination A Conceptual Approach

Authors: Joel S. Demski

1st Edition

0813803608, 978-0813803609

More Books

Students also viewed these Accounting questions

Question

1. What are the benefits of business events?

Answered: 1 week ago