Question
Using the following informationpreparea jointfederal incometax return for Jerry and Janet Apps. Jerry R. (SSNNNN-NN-NNNN and Janet K. (SSNNNN-NN-NNNN Apps, married, under age 65, file
Using the following informationpreparea jointfederal incometax return for Jerry and Janet Apps.
Jerry R. (SSNNNN-NN-NNNN and Janet K. (SSNNNN-NN-NNNN Apps, married, under age 65, file ajoint return. They reside at 410 E. Vernon Avenue, Carlock, IllinoisNNN-NN-NNNN Both elect to have $3 go to the presidential fund.
Their household includes David A. Apps their 12yr old son (SSNNNN-NN-NNNN, AND Edwin R. Apps (SSNNNN-NN-NNNN, Jerry's 70 Yr old father. Janet and Jerry provide over half the support of both David and Edwin. David has noincomeof his own; Edwin received $4,500 in social securitybenefitsduring the year.
Jerry, who works as a carpenter for Evergreen Enterprises, received the following information on hisFormW-2. Jerry is not involved in an employer-sponsored plan.
Taxable wages ; $52,000
Social Security andmedicaretax with held 3,978
Federal income tax withheld 4,970
Stateincome tax withheld 2,490
Janet owns and operates J&J Networking, a Dolemore distributorship. The principal business code is 454390. Janet has no employerIDnumber. She is a cash basis taxpayer but uses the accrual basis in her business. She uses the cost method for valuing the inventory. No changes have been made in the inventory system. Janet operated her business for all 12 months and had an office in her home. She materially participated in the business throughout the year. Information regarding Janet's business operation follows: Gross receipts$60,950 Returns andallowances900 Beginning inventory 2,700 Purchases 28,625 Ending inventory 3,825
Expenses: Advertising $400 &nb sp;Office expense$80 Bank Service charge24 Supplies&n bsp; 310
FILES ATTACHED FOR BETTER LOOK! PLEASE HELP ANSWER ASAP! WILL PAY GOOD!
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