Accounting Assignment | College Homework Help

LOAN REQUEST Recently, Happy Jack came into the bank requesting a loan to refinance a hotel Here’s what Happy Jack had to say to his loan officer: In 1995, my family purchased the Sunset Hotel in Cookeville with owner financing for a cost of $2,700,000. The Sunset Hotel has 80 units and an outdoor pool on about a five acre tract of land. When we purchased the hotel my father, Big Jack, put the hotel in his name but since has formed a company called Sleepy Jack, LLC and Mr. Jack transferred ownership of the real estate to the LLC. In 2001 my brother, Slap Jack, built a convenience store on the property and promised to pay rent when the store could afford to My sister, Jiffy, does not work in the business but she is a lawyer and recommended our mother be the operating manager for the LLC Since the hotel was originally built in 1983, many other hotels have located within a half mile of the Sunset Hotel. Many of the hotel owners have formed an association to encourage the area business leaders to host events and encourage activities that would bring people to Putnam County.
The owners are also very competitive when approaching businesses to establish lodging contracts for various business clients. These clients will make up 50% of the hotel occupancy. Since I have graduated from the hospitality school 6 years ago, I have managed the Leadville Highlander Hotel in Colorado. I hope to, someday, be a hotel management consultant or to sing professionally if I can get far enough, or win, American Idol. However, I need to help my dad with some of his business arrangements since his recent health problems have become more of a concern. Well enough about me – The Sunset Hotel needs to refinance the remaining balance due to the high 10% interest rate that is currently being charged on the owner-financed loan. The current balance of $1,000,000 is all we owe but we would like enough money to fix up our facility and make some necessary improvements at the same time; perhaps about $300,000 more. The improvements can be completed in 6 months if we had the money. The improvements would help increase our occupancy from 40% to maybe 60% and also raise our average room rates.
I would like our payments to be no more than $12,000. I know we can make the payments since we have not missed a payment since we have owned the hotel and these payments will be less. We will also give you a first lien position on the hotel with the going rate to replace the hotel being over $50,000 a room. Please let me know as soon as possible. Thanks, Happy Jack LOAN REQUEST QUESTIONS Who is the Primary Borrower? Who should guarantee the note personally If all family members have equal ownership? What is the total amount of the loan request? What would you like to know about the individual guarantors?
How many months would it take to amortize the total request if the rate is 6% and the payment is $12,000? Is that a reasonable amortization period based on the age of the hotel? What will be our collateral? How might we quickly determine a “ball park” value of the collateral? We often times appraise collateral based on three methods: income approach, cost approach, and sales comparison. Rank, in order, the “best” to “least” desirable approach that you would rely on. What might the customer do to the real estate and improvements that would make the hotel more competitive for the extra amount being considered? How will you know how the extra money is spent? Rather than just marketing to tourists, how else can the hotel attract business? What is the traditional cash flow for 2014 and 2015? (Show work) Can the hotel cash flow cover the $12,000 per month debt service for 2014 and 20157 (Show work) What is the Occupancy Rate, Average Daily Rate (ADR), and Revenue Per Available Room RevPAR) for 2015? What would RevPAR be if occupancy went up to 60% and ADR was $35?
What would the Gross Revenue be? (Show all work) OTHER FACTORS TO CONSIDER What was the Unemployment rate for USA TN P utnam Co. 2012 2013 2014 2015 2016 7.4% 5.4% 5.0% 4.796 4.9% What were the Sales Tax Collection Totals for: 2012 2013 2014 2015 2016 TN 7 Billion 17.1 Billion 7.5 Billion 7.6 Billion 8.2 Billion P utnam Co. 83,000,000 86.000.000 91,000,000 94,000,000 98,304,000 What were the Retail Sales Totals for: 2012 2013 2014 TN 96.0 Billion 97.4 Billion 98.9 Billion 102.03 Billion 41.6 Billion P utnam Co. 1.4 Billion 1.4 Billion 1.43 Billion 1.46 Billion 591,280 Million 2016 (6 mos.) What was the hotel/motel tax collection totals for Putnam County 2012 $902,843 10.16% Increase 2013 $898,158 .52% Decrease 2014 $1,060, 719 1 8.04% Increase 2015 $1.117.172 5.32% Increase 2016 $1,258,384 12.7% Increase What was the average fuel cost (per gallon) in the U.S.? 2012 $3.63 2013 $3.37 2014 $3.41 2015 $2.40 2016 $2.31 What was the Dow Jones Industrial average and the S&P 500 close at the end of: S&P 500 YEAR 2013 2014 2015 2016 Dow Jones 16,576 17,823 17,425 19,763 1,848 2,058 2,043 2,239 Commercial property, land only, can be priced by the acre or sometimes, more practically, by the Often times, construction costs for hotels are considered by the What information about the hotel can the Franchise Office provide?
How do we compare ADR, Occupancy, and RevPar for area hotels? What is the traffic count for: Interstate 40 43,436 to 51,324 (Approximately – depending on Cookeville Interchange) Willow Ave. 24,690 1-40 South to Humble Drive 22,426 I-40 North to Broad 16,076 Broad Street North to TTU Jefferson Ave. 22,776 1-40 South to Scenic Dr. 24,357 I-40 North to Jackson Street. What is more desirable interior corridor or exterior corridor hotels? What brand of hotel would you consider your normal place to stay? How can you find out how many hotels and number of rooms are in Putnam County? Would you approve this loan as requested? If not, what would need to happen to persuade you to say “Yes” to this loan request? Sleepy Jack’s Profit & Loss January through December 2015 Ordinary Income/Expense Income Jan-Dec 2015 500,000 500,000 Total Income Expenses Salaries and Wages Payroll Taxes. Utilities Telephone Hotel & Motel Tax Sales Tax Expense. . Bank Charges Food Purchases Advertising . Cable Service Insurance . .. Legal & Accounting… ..
License Office Supplies Operating Supplies Pool Supplies Postage Property Taxes Repair & Maintenance Taxes & Licenses 40,000 6,000 50,000 15,000 20,000 30,000 100 5,000 40,000 15,000 ·10,000 2,000 3,000 2,000 6,000 1,000 1,000 30,000 20,000 2,000 Total Expenses 298,100 Net Ordinary Income 201,900 Other Income/Expense Other Expense Interest Expense 100.000 Total Other Expense 100,000 Net Other Income (100,000) Net Income 101.900 11205 U.S. Income Tax Return for an S Corporation 1845-0100 1 . Do not le this form inless the corporation has filed or is attaching Form 2553 to clect to be an corporation. 2014 See separate Instructions. For calendar yen 2011 er tax weer beginning – 2014, ending SLEEPY TACK, LLC 123 SLEEPY STREET DREAMVILLE TN 3 850 . can type. C. Is the corporation electing to be in corporation beginning with the tex yeart Yes No Yes.’ attach Form 2553 not previously filed Check (0) Final retum Name change Address change – Amended return ( selection termination or revocation 1 Enter the number of shareholders who were shareholders during any part of the tax . Caution. Include only trade or business income and expenses online. College Homework HelpTa trough 21. See the instructions for more information . 11a Grost receipts or sale…20.000 b Loss returns and allowances.. TBL 150.000 2 Cost of goods sold (Schedule A, line 8)……………….. a 3 Gross profit. Subtractine 2 from line 1e…….. 3 1 750,000 0 4 Net gain (los) from Form 4797, Part II, line 17 (attach Form 4797)… 5 Other Income (oss) (attach statement……. & Total income (loss). Add lines 3 through 5.. 6 50.000 7 Compensation of officers…. . .. ….. 8 Salaries and wages less employment credits)…. 110.000 9. Repairs and maintenance…. 9 60,000 D 10 Bad debts………. 11 Rents…… 1125.000 12 Taxes and licenses……. 12 125,000 o 13 Interest …. 13 180,000 N 14 Depreciation not claimed on Schedule A or elsewhere on return (attach Form 4562) 1443,000 15. Depletion (Do not deduct oil and gas depletion……… 15 16 Advertising… 1650,000 17 Pension profit-sharing, etc, plans……. 18 Employee benefit programs….. 19 Other deductions (attach statement….. 19 060.000 20 Total deductions. Add lines 7 through 19…… 20 863,000 21 Ordinary business income (loss). Subtract line 2D from line 6 21 113,000 T22a Exess net passive Income or UFO recapture 17 Tex from Schedule D Form 1120S)…. Add lines 22 and 22b e Instruction for adu l ts )……. 23a 2009 estimated tax payments and 2008 overpayment credited to 2009…. b Tax deposited with Form 7004…. ……. c Credit for federal tax pald on fuels (attach Form 4136….. d Addnes 23 through 23c… 24 Estimated tax penalty (see Instructions). Check Form 2220’s attached 25 Amount owed. I line 231 is smaller than the total of lines 22 and 24, enter mount owed….. 26 Overpayment. filne 23d is larger than the total of lines 220 and 24, enter amount overpald…….. 27 Enter amount from line 26 Credited to 2010 estimated tax Refunded M N 27 Sign Here Secar. Dale l e ple Preparer’s SS a selt Pald Preparer’s Use Only name BAA For Privacy Act and Paperwork Reduction Act Notice, see the separate Instructions. SPSAOIL 12160) Form 11205 TRS (2009) S Cost of Goods Sold (see Instructions S v entory at beginning of year………………………..! 24 Purchases…* 3 Cost of labor…………………….. Cast of labor. … . .. . RESERER… . . 4 Additional section 253A costs (attach statement…….. 5 Other costs (attach statynend………………………… 6 Total. Add lines through 5…… 7. Inventory at end of year…… Coat of goods sold. Subtract line 7 from line 6. Enter hero and on page 1, line 2….. 9a Check all methods used for valuing closing Inventory: Cost as described in Regulations section 1.471-3 0 Lower of cost.or market as described in Regulations section 1.471-4 . 90 Other (Speelty method used and attach explanation.) . b Check if there was a weledown of subnormal goods as described in Regulations section 1.471-210), . Check if the LIFO Inventory method was adopted this tax year for any goods of checked, attach Form 970)… d If the LIFO Inventory method was used for this tax year, enter percentage (or amounts) of closing Inventory computed under LiFQ.. .. . ………………. . … . ……L . Il property is produced or equired for resale, do the rules of section 263A apply to the corporation……………. Yes No f Was there any change in determining quantities, cost, or valuations between opening and closing inventory W ‘Yes, attach explanation… .. Yes No A Other Information (see instructions) Yes No 1. Check accounting method: Cash b Accrual o Other (specify) 2 See the instructions and enter the: a Business activity ——- ——–. b Product or service ——– — 3. At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of College Homework Helpa • domestic corporation? For rules of attribution, son section 267(c)) If Yes, attach a statement showing: . (a) name and employer identification number (EIN). (b) percentage owned, and (c) If 100% owned, was a asub election made?…….. 4 Has this corporation filed, or is it required to file, a return under section 6111 to provide Information on any reportable transaction?………… 5 Check this box if the corporation Issued publicly offered debt Instruments with original Issue discount If checked, the corporation may have to file Form :281, Information Return for Publicly Offered Original Issue Discount Instruments. 6 If the corporation: (a) was a C corporation before it elected to be an S corporation or the corporation acquired .. an asset with a basis determined by reference to its besls (or the basis of any other property) In the hands of a C corporation and (b) has net unrealized built-in gain (defined in section 1374(d))) in excess of the net recognized built-In gain from prior years, enter the net unrealized bullt-In gain reduced by net recognized bullt-In gain from prior years. 7 Enter the accumulated earnings and profits of the corporation at the end of the tax year……..$_ 8 Are the corporation’s total receipts (see Instructions) for the tax year and Its total assets at the end of the tax yearless .than $260,000? 11 Yes, the corporation is not required to complete Schedules L and M-1……… E X Shareholders’ Pro Rata Share Items ! 1, Ordinary business Income (loss) (page 1, line 21)… 1 113.000 1.2.Net rental real estate Income (loss) (attach Form 8825). 3aOther gross rental Income (oss)…………… ‘Expenses from other rental activities (attach statement… c Other net rental Income (loss). Subtract line 3b from line 3a 4 Interest Income….. .. 5 Dividends: a Ordinary dividends… b Qualified dividends… 6 Royaltles…. 7 Net short-term capital gain (oss) (attach Schedule D (Form 11205)) Ba Net long-term capital gain (loss) (attach Schedule D (Form 11205)).. b.Collectibles (28%) gain (oss)…………. c Unrecaptured section 1250 gain (alahatam …. . 9 Net section 1231 gain (loss) (attach Form 4797) ……. 10 Other Income (loss) (see Instructions…….. Form 11205 S SPSADIL. 12/16/09 2002 hareholders Pro Raharles 11 Section 179 deduction Form 455 … ……. 12 Con uns 14h 14 14k Section expenditure Type b e ). Other de The ———- Cred 13 Low.income housing credit section 42000 . *********** ***** Low.income housing credit (other)…… ………… Qualified an d will ********* d other rental real estate credits ein Type Other rental code Type Alcohol and useful for Opercredits 14 Name of country or US. posesion…. Gross income from all sous Gross income sourced at shareholder level…….. Foreign gross income sourced at corporate level d Passive category..******** en category. Other statement.. . Deduction allocated and apportioned of shareholder level Interest expenses h Other…******* ***************** ****** Deductions allocated and apportioned at corporate level to foreign source Income Passive category. **** General category kOther (lach statemen…… Other Information 1 Total foreign taxes (check one):- Pald Accrued…. m Reduction in taxes available for credit Cattach statement)…………………………………………. n Other foreign tax information attach statement Altera 15 a Post-1986 depreciation adjustment… … . b Adjusted gain or loss.. . E E Deption (other than oil and gas)…… (AMT dol, gas, and geothermal properties – gross Income. …. … . Ol, gas, and geothermal properties -deductions…. …. . Other AMT items affach statement… Items 16 Tax-exempt Interest Income…….. ting. bother -exempt income… sh eNodeductible expenses.. . d Property distributions……….. Report of loans from shareholders…. Other17 Investment Income… Informe ation Investment expenses… e Dividend distributions pald from accumulated earnings and profits……….. d Other items and amounts Calach statement 18 Income loss reconciliation. Combine the amounts on lines 1 through 10 in the far right col um From there the sum of the mounts on lines 11 through 12d and lines 141 141 Tex Alle TAA 18 113000 Form 11205 SPA , 12/1509 2a Trade and accounts L owce for bed 3 w tories ** ** * * 4 ULS. povernment obligations ******* 5 Texempt securities ee n 6 Der ers t e ………. 7 Loans to shareholders.. 8 Mortgage and real estate loans. ********** 9 Other than 10a Buildings and other depreciable assets… .11.000.000 1.000.000 bLoss accumulated depreciation… 290.000 11.010.000 033.000 VOLUN 11 a Deplotable assets……. .. b Less accumulated depletion… 12 Land (net of any amortization…… …… 13a Intangible assets (amortizable only Less accumulated amortization.. . 14 Other assets attachm .. 15 Total assets.. . Ubates and Shareholders’ Equity 16 Accounts payable 17 Mare t ….. 18 er um best …. . 19 Loans from Shareholders………….. . 400.000 20 Mars, bende pleiner …. 1,150,000 21. Oder labies (attach )……. 22 Capital stock…….. 23 Additional pald-in capital………… 100 24 Retained earnings……. -410.000 -518,100 25 Adjustments to shareholders’ equity )……. 26. Less cost of treasury stock……… .. 27 Tolal liabilities and shareholders guy 32.100.000 102.00 Reconciliation of Income (LOS) per Books With Income (Loss) per Return Note: Schedule M-3 required instead of Schedule M-1 If total assets are $10 million or more – Instructions 1 Net Income oss) per books………. . 113.000 5 mancared on books is your not 2 Iran Indone on s what and 10. not recorded on they a Test ———- – – 5 ‘ Prenses recorded on books is your not sh izand 1, herpe s and me Depreciation —==== a Depreciation… Trw armen. $ = 7 Addins 5 and 6……. —————–==== .. 4 Aadlines 1 through 3……. 112.000 18 Income (om) Schedulek 10. 113,000 15 Analysis of Accumulated Adjustments Account Other Adjustments Account, and Shareholders’ Undistributed Taxable income Previously Taxed (see Instructions) () Accumulated ) Other Elephateade adjustments account adjustments account 1 Balance at beginning of tax year… 2 Ordinary Income from page 1. line 21…… 3 Other additions….. .. 4 Loss from page 1. line 21.. 5 Othe reductions ………………… . Combine lines through s… 7 Distributions other than dividend distributions.. . Form 11205 Schedule 1-1 L73109 K… Amended X-1 • 2.0T4 Shareholder’s Share of Current Year Income, Forder your Deductions, Credits, and other items yewe 1 Ordinary business Income Oss 13 Credits -113,000 Shareholder’s Share of Income, Deductions, 2 ratarul estate nota em Credits, etc. See page 2 of form and separate Instructions. Other nat rental income Oss) Information About the Corporation 1.4 Interest Income A Corporation’s employer dedication number 5aordinary dividends B Corporation’s name, address, city, stato, and ZIP code SbQualified dividends 1 4 Foreign tre • Royalties 7 Not short-term capital gain (loss) C IRS Center where corporation filed rotum . Ba Met long-term capital gain (loss) SPORTINI Information About the Shareholder 8 Collectibles (284) gain (s) D Shareholder’s identifying number Scorecaptured section 1250 gain E Shareholder’s name, address, city, state, and ZIP code Not section 1231 gain (los) 10 other Income (losa) 15 JA F Shareholder’s percentage of stock – Ownership for fax year……… Section 179 deduction mog See allached statement for additional Information. BAA For Paperwork Reduction Act Notice, see Instructions for Form 11205. Schedule K-1 Form 11205) . SPAUD. SCS 11205 2013 de 2009 U.S. Income Tax Return for an S Corporation – Do note this form unless the corporate d eaching Form 23 to elect to be an corporation See separate atractions 2009, ending SLEEPY JACK LLC. 123 SLEEPY STREET DREAMVILLE, TN 3050 que con t empon beginning with his year? Yes No Yes,” atach Form 2553 f not previously fed HCheck it arom me change Address change – Amendid ruum Selection temination or revocation 1 Erher the war of shareholders who has part of the yea . Caution. Include any trade or business home and pass on these through 21. See the instructions for more information Tarrer . 650000 b Lessons and watch.. B Te850.000 2 Cost of goods sold (Schedule A, line 8)……………………………… a Gross profil. Subtract line 2 from linele….. . 3 50.000 6. Nel gain ons from Form 797, Part II, line 17 (attach Form 4797. 5. Other Income foss) (attach statement)… 6 Total income (los) Add lines through 5…………. 17 Compensation of officers.. . 8 Salaries and wages dess employment credits).. 150.000 El Repairs and maintenance. ****** 120.000 Dl 10 Bad debts……………. | 11 Rent TI 12 Taxes and licenses…………. 130.000 6 13: Interest ……………………………………… 150,000 N 14 Depreciation not claimed on Schedule A or elsewhere on return (attach For 50.000 15 Depletion (Do not deductoll and gas depletion…….. 16 Advertising…………………. .. … 1650,000 17 Pension, profil sharing, eto, plan…. .. 18 18 Employee benefit programs…………… 19 Other deductions (attach statement)………….. 19 280,000 8 20 Total deductions. Add lines 7 through 19……….. 930.000 21 Ordinary business Income (loss). Subtract lind 20 from line 6…… A . 21 -30,000 T22 Excess nel passive Income or LIFO recapture Ex(see instructions). ****** b Tax from Schedule D form 11205)…. .. A A s the and he tower wa )…….. N 23a 2009 estimated tax payments and 2008 overpayment credited to 2009 Tax deposited with Form 7004…………. . Plé Credit for federal tax paid on tuls (attach Form 4136). I d Aadlines 23a through 230. M 24 Estimated tax penalty free instructions). Check if Form 2220 is attached. N25 Amounted 231 ww the theobal fee and enter amount owad… T 25 Overpayment. It line 23d is larger than the total of lines 220 and 24, enter amount overpaid……… 27 Enter amount from line 25 Credited to 2010 estimated tax X Sign Here y BAA For Privacy Act and Paperwork Reduction Act Notice, see the separate Instructions FINE Yes No Yes No – Cost of Goods Soldog Instruction S t ory at beginning of year……………… Purchases.. . Cost of labor….. ………. ….. . . ……….. 4 Additional section 263A costs attach statement ……….. 5 Other costs (attach statement…………………. @ Total. Add lines I though 5…. .. …….. …… 7 Invertory at and of you. ********** **** Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2….. 9. Check all methods used for valuing closing laventory Contes described in Regulations section 1.471-3 Lower of cost or market as described in Regulations section 1.471-4 p Other (Specify method used and attach explanation.) . b Check there was a writedown of subnormal goods as described in Regulations section 1.471-26)……… Check If the LIFO Inventory method was adopted this tax year for any goods of checked, attach Form 970)… . If the uro inventory method was used for this tax year, enter percentage for amounta) of closing Inventory computed under Lira…. ………………………………………………….. 90 elf property is produced or acquired for resale, do the rules of section 263A apply to the corporation…………. Was there any change determining quantities, cost, or valuations between opening and closing liventory If Yes,’ attach explanatio n ………. RENATO Other Information (see Instructions) 1 Check accounting method: Cash Accrual other specity) —- 2. See the Instructions and enter the a Business activity — Product or s o —————- … 3 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestie corporation or rules of attribution, see section. 267(6) Yes, attach a statement showing: (a) name and employer Identification number (EIN. (b) percentage owned, and (c) if 100% owned, was a QSub election made7… 4 Has this corporation filed, or is it required to file, a return under section 6111 to provide information on any reportable transaction…….. . .. …… . .. 5 Check this box of the corporation Issued publicly offered debt instruments with original Issue discount…… If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue. . Discount Instruments. 6 if the corporation: () was a corporation before it elected to be an s corporation or the corporation acquired – an asset with a basis determined by reference to its basis for the basis of any other property in the hands of a C corporation and has not unrealized built-in gain (defined in section 1374( X) in COB of the net . recor d built-in gain from prior years, enter the net unrealized built-In gain reduced by not recognized built-in gain from prior years………… . …… . ….. $ 7 Enter the siccumulated earnings and profits of the corporation at the end of the tax year……… $ 8 Are the corporation’s total receipts Instructions) for the tax year and its total assets at the end of the tax year than $250.007 ‘Yes the corporation is not required to complete Sch Shareholders’ Pro Rata Share Items – 1′ Ordinary business Income (oss) (page 1. line 21)…… . 2 Net rental real estate Income loss) (alach Form 8825)…. Ja Other gross rental income loss)… Expenses from other relativi (ach statement c Othernet rental income (ass). Subtract line 3b from In Ba. 4 interest Income….. M 5 Dividends. Ordinary dividends…. b Qualified dividends………….. 6 Royalties…………….. 6 7 Net short-term capital gaindow) attach Schedule D Form 112051.. Ba Net long-term capital gain (s) (atach Schedule D Form 11205)) Collectibles (285) gain oss)………. Unapred section 1250 in ch ……… 9. Net section 1231 galinos) attach Form 4797 .. 10 Other Income foss e instructions)…. .. .. Type N C Form 11205 SPLADI 13L 13160 Shareholders Pro Rata Share items deduction nach Form 4562… ………. … . 13 Contro C Section 50 pendhures (1) Type o d ucten ————— 1 Low come housing credit section 2000)… … .. … Low come housing credit (her)……….. stalo donar re a l estate credits Green Type Oh credits dhe Type Alcohol and use i t s crede cartache O 14d 149 14h 141 14 14k 141 14m WAN 14 Name of country or U.S. possession.. . ———– Gross income from all sources………………. Gross income sourced at shareholder level…… Forion procome source of corporate loved d Passive category.. *** * **** Garwol category. . Other (attach staternen)…………. Deductions allocated and apportioned at shareholder level Interest expense… …. … h Other……. . . Deduction allocated and apportioned at corporate level to foreign source Incom L. Passive category. ** **** General category..************* k Other (attach statement……… Other information Total foreilon taxes (check out Pald Acerved…… m Reduction in taxes available for credit attach statemen… nother foreign lax Infondon (tach statemen Alterna15a Post-1966 depreciation adjustment……… b Adjusted gain or loss………………… Depletion (other than oil and gas)…. . .. doll, on, and geothermal properties – gross Income Ollgas, and geothermal properties -deductions. f Other AMT items affach statement Items 10a Tax-exempt interest income… Other exempt Income.. . Nordeductible expenses…….. …. Basis d Property distributions Repayment of Inans from shareholders… Other 17 Investment income……….. investment expenses. O dend distributions paid from accumulated eamings and profits… d Others and mounts atach statement 18. Incomatos reconciliation. Combine the amounts on lines um From the suc hen dhe amounts on lines in frough 120 and through 10 in the fact 15a 15b im 15 d. -80,000 Form 11205 Page 4 Balance Sheets per Books End of tax year – 150.000 HEN 1.270.000 1,190, S ERVICES 60,000 TASAR 30,000 Tedenotes and accounts receivable, …… HE Less allowance for bad debts……. 3 inventories……. 4 U.S. government obligations………… . . 5 Tax-exempt securities (see Instructions)… 6 Other current assets attachm… 7 Loans to shareholders…. 8 Mortgage and real estate loans…… 9 Other Investments (ette statement.. 10a-Buildings and other depreciable assets……. 1,800,000 W H U 1,800,000 – bless accumulated depreciation………… 740.000 1.060.000 790,000 11 a Deplotable assets……..College Homework Help • bless accumulated depletion…………. 12 Land (net of any amortization)……….. FYSIS 150,000 13 a Intangible assets (amortizable only)…. .b Loss accumulated amortization…. 14. Other assets attachm … 15 Total assets…. 1.190.000 Llabilitles and Shareholders’ Equity SPM 16 Accounts payable……. 17. Martgages, nous, bonds payable in less than 1 year….. 18 Other current l es attach sto… 19 Loans from shareholders….. ……….. “400.ona 400.000 20 Mortgages, moles, bonds payable in 1 year or moro…… 1,250,000 1,200.000 21 Oihar Ses Catach statement).. 22 Capital stock…….. 23 Additional pald-in capital……. 24 Retained earnings. .. -380.100 -410.100 25. Adjustments to shareholders’ equity (all me)……… 26 Less cost of treasury stock…………. 27 Total liabilities and shareholders’ equily . 1.270.000 2.190.000 Reconciliation of Income (Loss) per Books With Income (Loss) per Return Note: Schedule M-3 required instead of Schedule.M-1 If total assets are $10 million or more See Instructions 1 Net Income oss) per books……………..-80,000 5 Income recorded on books this year not included 2 Income Included on Sehedule Klias 1, 2, 3, 4, 5, 6, 7, on Schedule lines through 10(lamina) 8, 9 and 10, not recorded on books the year tema a Tex-compt interests ———– —– ———- ——– 3 Expenses recorded on books this year net 6.Dedustions included on Schedule K es through – Included on Schedule K, lines 1 through 12, 12 and 141, no charged against book income this and 141 (temize): yer (nie): a Depreciation… $_– b Travel and entertainment. $ – ————- 17 Add lines 5 and 6……………. 8 Tremoloss) (Scheduld K, In 18). Ln 4 luss in 2… -80,000 und Analysis of Accumulated Adjustments Account, Other Adjustments Account, and Shareholders’ Undistributed Taxable Income Previously Taxed (see instructions) (a) Accumulated . (b) Other Stereholders undis. 1 Balance at beginning of tax year………. Justments account adjustments account touted amble income Previously the 26. Hai 2017 100 Depreciation.. . ——– 4 Add Times through 3……. .. . 2 Ordinary Income from page 1. line 21…… 3 Ohat additions….. . 4 Loss from page 1, line 21.. 5 Other reductions…………. Combine Ines 1 through ….. 7 Distributions other than dividend distributions.. 8 Balance end of tax your. Subtract line 7 from Ina 6….. SPEABL top Form 11205 le K-1 112059 672209 2013 Falk Aminded – D I Shareholder’s Share of Current Year Income * Deductions, Credits, and other items 200 1 Ordinary business Income 13 dis -80,000 Shareholder’s Share of Income, Deductions, 2 petarul staterna Credits, etc. See page 2 of form and separate Instructions 3 Othernet raital Income oss) – FS Information About the Corporation Interest Income A Corporation’s employer Identification number 5aOrdinary dividende B Corporation’s name, address, city, state, and ZIP code 5b Qallflod dividende 14 Foreign transactions Royalties C RS Center where corporation fled return B EZ Information About the Shareholder Shareholder’s Identifying number 7 Not short-term capital gain (loss Not long-term capital gain (0) 8 Collectibles (28%) gain (0) 8. Ureaptured section 1250 gpin D E Shareholder’s name, address, city, state, and ZIP code 9 Net section 1231 gain loss) 10 Other Income 000 15 Per t amins F Shareholder’s percentage of stock ownership for tax year…….. .. 11. Section 179 deduction 16 m. 10 – <rzo mc “See attached statement for additional information Schedude K-1 Forn 11205) BAA For Paperwork Reduction Act Notice, see Instructions for Form 1120S. SPATIL 15/05 Get Accounting Homework Help Today

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Our Homework Writing Services

My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.

Essays

Essay Writing Services

At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.

Admissions

Admission and Business Papers

With Myhomeworkwriters.com, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.

Editing

Editing and Proofreading

Myhomeworkwriters.com has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.

Coursework

Technical papers

My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.