Question
Terance Wilson and Marcus Scott started a law practice June 1, 2023. This is a 60% 1066 Partnership Wilson & Scott LP EIN: 32-1236647
Terance Wilson and Marcus Scott started a law practice June 1, 2023. This is a 60% 1066 Partnership Wilson & Scott LP EIN: 32-1236647 Address: 800 Law Court Odessa, TX 79762 Hint: Bonus Depreciation is different in 2023. Make sure four expenses are in the correct category. Don't forget to make the depreciation expense. Unadjusted TB Cash 72.000.00 Accounts Receivable 36,000.00 Notes Receivable 14.000.00 Fumiture and Equipment 48.360.00 Accumulated Depreciation Other Assets 43.000.00 Total Assets 213,360.00 Accounts Payable 6.000.00 Notes Payable 17.000.00 Capital Contributions 60.000.00 Net Income 131,360.00 213.360.00 Law Consulting Income (206,000.00) Secretary Wages 66.000.00 Employment Taxes 7.000.00 Supplies 1.000.00 Bank Fees 260.00 Rent 6.000.00 Repairs and Maintenance 3.200.00 Tax Prep Fees 1.200.00 Interest Expense 990.00 (131,360.00)
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