week 3 prj synco_solutions only
Use the following information for JKEB Corporation to complete pages 1 through 3 of the 2011 Form 1120.
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:
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 |
