Form 86-120-98-3-1-000 - Partnership Income Tax Schedule - 1998 Page 2
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1
2Mississippi
Form 86-120-98-3-1-000 (Rev. 6/98)
Partnership Income Tax Schedule
1998
Form 86-120
Balance Sheets (Federal Schedule May Be Substituted)
FEIN
Beginning of Taxable Year
End of Taxable Year
(C) Amount
(D) Total
Assets
(A) Amount
(B) Total
1. Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
Tra de No te s a nd Acco unts Rece iva ble. . . . . . . . . . .
(
)
(
)
Le ss Allo wance fo r Ba d Debts . . . . . . . . . . . . . . . . . .
3.
Invento rie s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
U. S.Gove rnme nt Obliga tions. . . . . . . . . . . . . . . . . . .
5.
Ta x Exe mpt Se curities. . . . . . . . . . . . . . . . . . . . . . . . . .
6.
Othe r Current Assets (Atta ch Sche dule ). . . . . . . . . . . . . .
7.
Mortgange and Rea l Esta te Loa ns. . . . . . . . . . . . . . .
8.
Ohte r Inve stme nts (Atta ch Sche dule ). . . . . . . . . . . .
9.
Buildings a nd Other Fixed De pre cia ble Assets . . .
(
(
)
)
Le ss Accumulated De pre cia tion. . . . . . . . . . . . . . . . .
10.
Deple ta ble Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(
(
)
)
Le ss Accumulated De pletio n. . . . . . . . . . . . . . . . . . . .
11. La nd (Ne t of a ny Amno rtizatio n). . . . . . . . . . . . . . . . .
12.
Inta ngible Assets (Amo ritiza ble Only). . . . . . . . . . . .
(
(
)
)
Le ss Accumulated Amo rtizatio n. . . . . . . . . . . . . . . . .
13.
Othe r Asse ts (Attach Schedule). . . . . . . . . . . . . . . . .
14.
To ta l Assests. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Liabilities and Capital
15.
Accounts Pa yable . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.
Mortgages, Notes, Bonds Payable in less than 1 Year. . .
17.
Othe r Current Liabilitie s (Atta ch Sche dule ). . . . . . . .
18.
All nonreco urse loa ns. . . . . . . . . . . . . . . . . . . . . . . . . .
19.
Mortgages, Notes, Bonds, Payable in 1 year or more. . . .
20.
Othe r Lia bilities (Attach Schedule). . . . . . . . . . . . . . .
21.
Partne rs' Ca pita l Accounts. . . . . . . . . . . . . . . . . . . . . .
22.
To ta l Liabilitie s a nd Ca pita l. . . . . . . . . . . . . . . . . . . . .
Schedule M-1 - Reconciliation of Income per Books with Income per Return
6.
Inco me reco rde d on boo ks this ye ar no t
1.
Net Inco me (Lo ss) per Boo ks. . . . . . . . . . . . . . . . . . . . .
included o n Sche dule K, lines 1 through 7
Income included o n Sche dule K, lines 1 through 4, 6,
2.
and 7, not re corded o n bo oks this yea r (ite mize ):
$
Ta x Exe mpt Intere st
7.
Deductio ns include d on Schedule K, line s 1
3.
Guara ntee d pa yments (othe r tha n he alth insurance)
through 12a, 17e , and 18b, not charge d
aga inst bo ok income this ye ar (itemize):
4.
Expe nse s re corded o n bo oks this yea r not included
on Schedule K, line s 1 thro ugh 12a , 17e, a nd 18b
De pre cia tion
(itemize):
$
a Depreciatio n $
b Tra vel a nd e ntertainme nt $
8.
Add lines 6 and 7
Income (loss) (Sche dule K, line 25a)
5.
9.
To ta l of Lines 1 through 4. . . . . . . . . . . . . . . . . . . . . . . .
Subtra ct line 8 form line 5 . . . . . . . . . . . . . .
Schedule M-2 - Partner's Capital Accounts
1.
Balance at Be ginning of Ye ar. . . . . . . . . . . . . . . . . . .
6
Distributio ns of
(a) Cash. . . . . . . . . . . . . . . . . .
2.
Capital co ntributed during yea r. . . . . . . . . . . . . . . . . .
(b) Property. . . . . . . . . . . . . . . .
3.
Othe r De crea ses (Itemize)
Net inco me (lo ss) per bo oks. . . . . . . . . . . . . . . . . . . .
7.
4.
Othe r Incre ase s (Ite mize )
8.
Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . .
5.
Add lines 1 through 4 . . . . . . . . . . . . . . . .
9.
Balance at End of Year. Subtract line 8 from line 5 .
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