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ABC Company December 31, 2013 Trial Balance Book trial balance Debit Credit Assets: Cash Accounts Receivable Allowance for Bad Debts Estimated U....

Corporate Tax Return
Requirement 1: adjusting journal entry and financial statements:
& reconciliation of book and taxable income:
Requirement 2: Form 1120:
Form 1120, page 1: correct entries for all relevant line items for income, deductions, taxable income, tax, and tax due or overpaid.
Schedule L, page 5: correct entries for end of year balance sheet (columns c & d; note; total assets should equal total liabilities and equity.
Schedule M-1, page 5: correct entries for reconciliation; note; line 10 of schedule M-1 should agree with line 28, page 1.
Schedule M-2, page 5: correct entries; should agree with the balance sheet.
Overall professionalism and appearance:
Attach a supplemental schedule where appropriate (e.g., page 1, line 26)

ABC Company December 31, 2013 Trial Balance Book trial balance Debit Credit Cash 135,340 Accounts Receivable 1,688,056 Allowance for Bad Debts 42,106 Estimated U.S. Income Tax Prepayments 240,000 Inventories 497,748 Other Assets 255,494 Buildings & Equipment 2,627,242 Accum. Depreciation 851,444 Liabilities & Equity: Accounts Payable & Accruals 762,872 Common Stock 3,000,000 Retained Earnings (beginning of year, 1/1/12) 160,041 Dividends Declared and Paid 125,000 Revenue: Sales 8,092,761 Sales Returns & Allowances 201,812 Interest Income 24,813 Dividend Income 4,200 Miscellaneous Income 33,890 Cost of Goods Sold Beginning Inventory 510,423 Purchases (net of R & A) 5,134,522 Ending Inventory 497,748 Other Costs & Expenses Officers Salaries 500,000 Sales Salaries 317,919 Administrative Salaries and Wages 230,081 Repairs & Maintenance 35,030 Bad Debts Expense 19,567 Payroll Taxes 83,728 Property Taxes 46,153 Charitable Contributions 25,500 Depreciation 177,000 Advertising Expense 250,255 Pension Plan Expense 36,650 Employee Group Health Insurance 26,432 Entertainment & Meals Expense 16,900 Officer's Key Person Life Insurance 24,670 Other Expenses 264,353 Federal income tax expense (books) Totals 13,469,875 13,469,875 Assets:
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