You had posted an incorrect value on line 30
Following your previous question for
Check Figures - Form 1120
Page 1, Line 30 (Taxable Income) - $1,245,750
Page 1, Line 35 (Overpayment) - $4,445
- 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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