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Unformatted text preview: - 77,500-100,000 Capital stock $100,000 $100,000 Retained earnings 222,500 269,860 Required (15 points)Due April 27 (Beginning of Class) Complete the 2010 federal Form 1120, as well as Form 1099-DIV and Form W-2 for Dr. Bruce. You may provide all necessary information that is not given for the company. Since the corporation is a cash basis taxpayer, assume that the expense for federal income tax does not need to be accrued (not allowed under GAAP). Apparently, the tax due on January 1, 2010 was $5,500 and is an expense in 2011. You may work alone or in a group of up to three. Groups should submit one return with each members name listed at the top of the return. You should be able to complete this in 45 minutes. Essay (In class)--Parameters: 50% of evaluation is based on first impression of content. 50% of evaluation is based on writing, including persuasion....
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This note was uploaded on 05/21/2011 for the course ACCT 325 taught by Professor Ostrich during the Spring '11 term at San Diego State.
- Spring '11