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You had posted an incorrect value on line 30 Following your previous question for http://www.coursehero.

You had posted an incorrect value on line 30

Following your previous question for

http://www.coursehero.com/tutors-problems/Accounting/8469565-Here-are-the-forms-that-should-be-a-part-of-your-manual-1120-return/

Check Figures - Form 1120

Page 1, Line 30 (Taxable Income) - $1,245,750

Page 1, Line 35 (Overpayment) - $4,445

Other Instructions

- Complete all schedules and applicable questions for 2012 Form 1120 (Pages 1-5). Assume all amounts given are for 2012, not 2011.

- Disregard supplemental schedules for Schedule L, Balance Sheet (normally you would attach statements with detail).

- The president will sign the return.

- Apply any overpayment to the 2013 estimated tax.

- Check "Yes" for preparer to discuss return with IRS.

- Assume Janet and Kim spend 100% of their time on the business (Form 1125-E).

- Assume Pet Kingdom prepared Forms 1099 for certain payments (Form 1120, Schedule K).

- Assume the Section 263A Inventory Capitalization rules do not apply.

- Assume Pet Kingdom uses GAAP for its unaudited financial statements.

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