Question
Use the following information for JKEB Corporation to complete pages 1 through 3 of the 2011 Form 1120. The final return is due in week
Use the following information for JKEB Corporation to complete pages 1 through 3 of the 2011 Form 1120. The final return is due in week five.
Address: 1994 Lincoln St, Township, FL 34691
Employer Identification Number: 98- 325465
Date Incorporated: 01-01-11
Accounting Method: Accrual
Use the following link to determine the principal business activity code:
- IRS Form 1120
JKEB Corporation's activities are focused more on sporting goods than apparel. They are not a subsidiary of another corporation and no entity owns more than 20% of JKEB Inc.
Total Assets
$2,250,000
Total Receipts/Sales
$3,750,000
Returns and Allowances
$187,500
Cost of Goods Sold
$950,000
Dividends from less than 20% owned investees
$300,000
Dividends from 20% or more owned investees
$15,000
Interest
$5,000
Income from store vending machines
$1,500
Salaries and Wages
$150,000
Bad Debts
$12,500
Rent
$40,000
Charitable contributions during 2011
$2,000
Advertising
$5,000
Repairs
$2,750
Tax Deposits during 2011
$10,000
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