corporate tax return 4
Corporate Tax Returns
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 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.
https://www.irs.gov/pub/irs-pdf/f1120.pdf Complete the return for XYZ Corporation.
In a separate document:
Show your income tax calculations.
Prepare a write-up on analysis of the ethical considerations related to tax preparation.
Requirements: Submit
1) your tax return template,
2) Income tax calculations,
3) your analysis of the ethical considerations related to tax preparations involving corporations. Your paper must be APA format.
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XYZ Corporation |
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12/31/2016 |
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Assets |
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Cash |
$485,600 |
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Computer |
$7,000 |
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AccDep-Computer |
$(1,745) |
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Furniture |
$3,000 |
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AccDep-Furniture |
$(321) |
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Land |
$50,000 |
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Total Assets |
$543,534 |
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Liabilities |
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Equity |
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Retained Earnings |
$53,534 |
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Stock-Anderson |
$50,000 |
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Stock-Bacon |
$150,000 |
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Stock-Cox |
$100,000 |
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Stock-Day |
$50,000 |
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Stock-Elders |
$40,000 |
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Stock-Fawcett |
$80,000 |
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Stock-Gonzalez |
$20,000 |
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Total Liabilities plus Equity |
$543,534 |
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