UnAdjusted Adjusted Tax Tax 1120 Book Balance Adjustment Book Balance Adjustment Trial Balance Tax Return Description DR CR DR CR DR CR DR CR DR CR Summary Tic Marks Sales 2 100 000 2 100 000 2 100 000 Dividend Received 5 000 5 000 5 000 Interest Income on...
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UnAdjusted Adjusted Tax Tax 1120 Book Balance Adjustment Book Balance Adjustment Trial Balance Tax Return Description DR CR DR CR DR CR DR CR DR CR Summary Tic Marks Sales 2 100 000 2 100 000 2 100 000 Dividend Received 5 000 5 000 5 000 Interest Income on US Treasury Bonds 10 000 10 000 10 000 Long Ter Capital gain 7 000 7 000 7 000 - Purchases 700 000 700 000 700 000 Salaries-Officers 210 000 210 000 210 000 Salaries-Sales & Clerical 265 000 265 000 265 000 Repairs & Maintenance 20 000 20 000 20 000 Bad Debt expense 5 000 5 000 4 000 1 000 Interest Expense 14 000 14 000 14 000 Charitable Contributions 60 000 60 000 60 000 Depreciation (per book) 40 000 40 000 10 000 50 000 Advertising 14 000 14 000 14 000 Meals & Entertainment 16 000 16 000 11 000 5 000 Taxes (State, local & payroll) 50 000 50 000 50 000 Life Insurance Premiums 10 000 10 000 10 000 - Long Term Capital Loss 9 000 9 000 9 000 - Federal Income Taxes paid 150 000 90 550 240 550 240 550 - 1 407 500 2 115 000 Dividend Paid
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