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I will attach the Forms, Please answer by putting the number next to the corresponding answer For Example: Form 1040: 7: 35,000 8: 3 9:
I will attach the Forms, Please answer by putting the number next to the corresponding answer
For Example:
Form 1040:
7: 35,000
8: 3
9: 3,000
Based on the following information, complete Lawrence's 2017 Form 1040, Schedule A, Schedule C and Schedule D The following facts relate to Andrew Lawrence and Jane V. Lawrence, who are married and file a joint return in 2017. They do not have any dependents who can be claimed on the tax return Andrew Lawrence is the sole proprietor of a business that operates under the name Andrew Lawrence Furniture (Business Code 337000). The proprietorship is located at 1234 First Avenue, City, ST 55555 Andrew started the business with a $200,000 capital investment on June 1,2007. The proprietorship uses the calendar year as its tax ycar (the same as its proprictor). The income statement for the current ycar, is presented below. Sales Sales returns and allowances 632,422 (29,242) Cost of goods sold Gross Profit $540,204 62.976 Operating expenses Depreciation and section 179 expense deduction(12,476) not included in the cost of good sold Advertising Expenses Office Expenses Meals and entertainment Salaries paid to employees Net Loss 13,000) (16,000 8,000 17.200) -3,700 Based on the following information, complete Lawrence's 2017 Form 1040, Schedule A, Schedule C and Schedule D The following facts relate to Andrew Lawrence and Jane V. Lawrence, who are married and file a joint return in 2017. They do not have any dependents who can be claimed on the tax return Andrew Lawrence is the sole proprietor of a business that operates under the name Andrew Lawrence Furniture (Business Code 337000). The proprietorship is located at 1234 First Avenue, City, ST 55555 Andrew started the business with a $200,000 capital investment on June 1,2007. The proprietorship uses the calendar year as its tax ycar (the same as its proprictor). The income statement for the current ycar, is presented below. Sales Sales returns and allowances 632,422 (29,242) Cost of goods sold Gross Profit $540,204 62.976 Operating expenses Depreciation and section 179 expense deduction(12,476) not included in the cost of good sold Advertising Expenses Office Expenses Meals and entertainment Salaries paid to employees Net Loss 13,000) (16,000 8,000 17.200) -3,700Step by Step Solution
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