Form 541 - Partnerships - Department Of Treasury Internal Revenue Service - 2002 Page 24
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284
Form 1065 (2002)
Page
Analysis of Net Income (Loss)
Net income (loss). Combine Schedule K, lines 1 through 7 in column (b). From the result, subtract the
1
73,870
sum of Schedule K, lines 8 through 11, 14a, 17g, and 18b
1
(ii) Individual
(iii) Individual
(v) Exempt
2
Analysis by
(i) Corporate
(iv) Partnership
(vi) Nominee/Other
(active)
(passive)
organization
partner type:
73,870
a
General partners
b
Limited partners
Note: Schedules L, M-1 and M-2 are not required if Question 5 of Schedule B is answered “Yes.”
Schedule L
Balance Sheets per Books
Beginning of tax year
End of tax year
Assets
(a)
(b)
(c)
(d)
3,455
3,350
1 Cash
7,150
10,990
2a Trade notes and accounts receivable
7,150
10,990
b Less allowance for bad debts
18,125
19,225
3 Inventories
4 U.S. government obligations
1,000
1,000
5
Tax-exempt securities
6
Other current assets (attach schedule)
7
Mortgage and real estate loans
1,000
1,000
8
Other investments (attach schedule)
15,000
15,000
9a
Buildings and other depreciable assets
4,000
11,000
5,174
9,826
b
Less accumulated depreciation
10a
Depletable assets
b
Less accumulated depletion
11
Land (net of any amortization)
12a
Intangible assets (amortizable only)
b
Less accumulated amortization
13
Other assets (attach schedule)
41,730
45,391
14
Total assets
Liabilities and Capital
10,180
10,462
15
Accounts payable
4,000
3,600
16
Mortgages, notes, bonds payable in less than 1 year
17
Other current liabilities (attach schedule)
18
All nonrecourse loans
7,739
19
Mortgages, notes, bonds payable in 1 year or more
20
Other liabilities (attach schedule)
27,550
23,590
21
Partners’ capital accounts
22
Total liabilities and capital
41,730
45,391
Schedule M-1
Reconciliation of Income (Loss) per Books With Income (Loss) per Return
48,920
1
Net income (loss) per books
6 Income recorded on books this year not included
2
Income included on Schedule K, lines 1
on Schedule K, lines 1 through 7 (itemize):
50
through 4, 6, and 7, not recorded on books
a Tax-exempt interest $
50
this year (itemize):
3
Guaranteed payments (other than health
7 Deductions included on Schedule K, lines 1
25,000
insurance)
through 11, 14a, 17g, and 18b, not charged
4
Expenses recorded on books this year not
against book income this year (itemize):
included on Schedule K, lines 1 through
a Depreciation $
11, 14a, 17g, and 18b (itemize):
a Depreciation $
50
b Travel and entertainment $
8 Add lines 6 and 7
9 Income (loss) (Analysis of Net Income (Loss),
5
Add lines 1 through 4
73,920
line 1). Subtract line 8 from line 5
73,870
Schedule M-2
Analysis of Partners’ Capital Accounts
27,550
52,880
1
Balance at beginning of year
6 Distributions: a Cash
2
Capital contributed: a Cash
b Property
b Property
7 Other decreases (itemize):
48,920
3
Net income (loss) per books
4
Other increases (itemize):
8 Add lines 6 and 7
52,880
5
Add lines 1 through 4
76,470
9 Balance at end of year. Subtract line 8 from line 5
23,590
1065
Form
(2002)
Page 24
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