ACT415 Colorado State University Income Tax Return Form 1120 Project

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Business Finance

Use the financial data below to complete Form 1120.

Complete the Student Template (provided in Module 8 under this assignment) that has the respective tax forms and schedules required to complete the return. Complete all the parts of your respective business tax return for which there is information.

Click this link to download Form 1120 (Links to an external site.) from IRS.gov. Complete the return for BADEC.

In a separate document:

Show your income tax calculations.

Requirements:

Submit 1) your tax return template, 2) Income tax calculations,

BADEC Corporation

12/31/2016

Assets

Cash

$485,600

Computer

$7,000

AccDep-Computer

$(1,745)

Furniture

$3,000

AccDep-Furniture

$(321)

Land

$50,000

Total Assets

$543,534

Liabilities

Equity

Retained Earnings

$53,534

Stock-Anderson

$50,000

Stock-Bacon

$150,000

Stock-Cox

$100,000

Stock-Day

$50,000

Stock-Elders

$40,000

Stock-Fawcett

$80,000

Stock-Gonzalez

$20,000

Total Liabilities plus Equity

$543,534