Form 480.20 - Corporation Of Individuals Informative Income Tax Return Page 3

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Form 480.20(I) Rev. 05.13
Corporation of Individuals - Page 3
Compensation to stockholders or officers
Social Security
Percentage of time devoted
Percentage of stocks or shares owned
Name of Stockholder
Compensation
Number
to Business
Common
Preferred
00
00
00
00
00
00
Total compensation to stockholders or officers (Transfer to Part VII, line 16)
Comparative Balance Sheet
Beginning of the year
Ending of the year
Assets
Total
Total
00
00
1.
Cash on hands and in bank ..............................
(1)
______________________________
(1)
____________________________________
00
00
2.
Accounts receivable ........................................
__________________________________
(2)
(2)
___________________________
(
)
00
00
(
00
)
00
3.
Less: Reserve for bad debts .............................
__________________________________
______________________________
(3)
(3)
___________________________
____________________________________
00
00
4.
Notes receivable .............................................
(4)
______________________________
(4)
____________________________________
00
00
5.
Inventories .....................................................
______________________________
(5)
(5)
____________________________________
00
00
6.
Investments ...................................................
(6)
______________________________
(6)
___________________________________
00
00
7.
Depreciable assets ..........................................
__________________________________
(7)
(7)
___________________________
(
)
00
(
)
00
00
00
8.
Less: Reserve for depreciation ...........................
__________________________________
______________________________
(8)
(8)
___________________________
____________________________________
00
00
9.
Land ..............................................................
______________________________
(9)
(9)
____________________________________
00
00
10.
Other assets ...................................................
______________________________
(10)
(10)
____________________________________
00
00
11.
Total Assets ..................................................
(11)
______________________________
(11)
___________________________________
Liabilities and Stockholder’s Equity
Liabilities
00
00
12.
Accounts payable ...........................................
__________________________________
(12)
(12)
___________________________
00
00
13.
Accrued expenses (not paid) .............................
__________________________________
(13)
(13)
___________________________
00
00
14.
Long-term notes payable ...................................
__________________________________
(14)
(14)
___________________________
00
00
15.
Other liabilities ................................................
__________________________________
(15)
(15)
___________________________
00
00
16.
Total Liabilities .............................................
(16)
______________________________
(16)
___________________________________
Stockholder’s Equity
17.
Capital stock
(a)
00
00
Preferred stock ...........................................
__________________________________
(17a)
(17a)
___________________________
00
00
(b)
Common stock ...........................................
__________________________________
(17b)
(17b)
___________________________
00
00
18.
Additional paid in capital ...................................
(18)
__________________________________
(18)
______________________________
00
00
19.
Retained earnings ...........................................
__________________________________
(19)
(19)
______________________________
00
00
20.
Reserve ........................................................
(20)
__________________________________
(20)
___________________________
00
00
21.
Total Stockholder’s Equity ............................
______________________________
(21)
(21)
__________________________________
00
00
22.
Total Liabilities and Stockholder’s Equity ........
(22)
(22)
Reconciliation of Net Income (or Loss) per Books with Net Taxable Income (or Loss) per Return
1.
Net income per books
00
5.
Income recorded on books this year not included on
(1)
__________________________________
2.
Taxable income not recorded on books this year
this return
(Itemize)
(a) Exempt interest _________________________
(a) ______________________________________
(b) ______________________________________
(b) _______________________________________
(c) ______________________________________
(c) _______________________________________
Total .............................................................
00
Total ............................................................
(2)
___________________________________
00
(5)
___________________________________
3.
Expenses recorded on books this year not claimed
6.
Deductions on this return not charged against book
on this return
income this year
(a) Meal and entertainment (amount not
(a) Depreciation ___________________________
claimed) ______________________________
(b) ______________________________________
(b) Depreciation ____________________________
(c) Motor vehicles (in excess of the limit) _______
(c) ______________________________________
____________________________________
Total ............................................................
00
(6)
__________________________________
(d) Vessels, aircrafts and property located out of
7.
Total (Add lines 5 and 6)
00
(7)
_________________________________
Puerto Rico ___________________________
8.
Net taxable income (or loss) per return
(e) _______________________________________
(Subtract line 7 from line 4) ......................,.......
00
Total .............................................................
00
(8)
(3)
__________________________________
4.
Total (Add lines 1 through 3) ..........................
00
(4)
Analysis of Undistributed Profits per Books
1.
00
Balance at the beginning of the year ....................
(1)
00
5.
Distributions:
(a) Cash .............................
(5a)
__________________________________
___________________________________
00
2.
Net income per books ......................................
(2)
00
(b) Property ........................
(5b)
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
__________________________________
3.
00
Other increases (Itemize, use schedule if necessary)
(c) Stocks .........................
(5c)
__________________________________
00
(a) _______________________________________
(3a)
00
6.
Other decreases (Itemize) ..............................
(6)
__________________________________
__________________________________
(b) _______________________________________
(3b)
00
7.
Total (Add lines 5 and 6) ................................
00
(7)
__________________________________
__________________________________
4.
00
Total (Add lines 1, 2 and 3) ___________________
(4)
00
8.
Balance at end of year (Subtract line 7 from line 4)
(8)
Retention Period: Ten (10) years

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