Form Ar1050 - Partnership Return Of Income - 2000 Page 2
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1
2A.
Check method of accounting
Cash
Accrual
Other: (Specify) ____________________________________
B.
Are any partners in this partnership also partnerships? ......................................................................................................
Yes
No
C.
Is this partnership a partner in another partnership? ...........................................................................................................
Yes
No
SCHEDULE A:
COST OF GOODS SOLD
00
1.
Inventory at beginning of year: ................................................................................................................................................ 1
00
2.
Purchases less cost of items withdrawn for personal use: ........................................................................................................ 2
00
3.
Cost of labor: ......................................................................................................................................................................... 3
00
4.
Other costs: ........................................................................................................................................................................... 4
00
5.
Total of Lines 1, 2, 3, and 4: .................................................................................................................................................... 5
00
6.
Inventory at end of year: ......................................................................................................................................................... 6
00
7.
Cost of goods sold (Enter here and on Line 2, page1): ............................................................................................................ 7
8.
Check all methods used for valuing closing inventory:
a. Cost
b. Lower of cost or market
c. Writedown of “subnormal” goods
d. Other: (Specify method used and attach explanation) ______________________________
e. Was the LIFO Inventory Method adopted this tax year for any goods? ........................................................................ e
Yes
No
f. If you are engaged in manufacturing, did you value your inventory using the Full Absorption Method? ......................... f
Yes
No
g. Were there any changes in determining quantities, cost or valuations between opening and closing inventories?
(If yes, attach explanation) ........................................................................................................................................ g
Yes
No
SCHEDULE B:
BALANCE SHEET
ASSETS
BEGINNING OF YEAR
END OF YEAR
Cash ..............................................................................
Accounts Receivable ......................................................
Minus allowance for bad debts ......................................
Inventories ......................................................................
Government obligations ..................................................
Other current assets .......................................................
Mortgage and real estate loans ........................................
Other investments ...........................................................
Buildings and other depreciable assests ..........................
Minus accumulated depreciation ...................................
Depletable assets ...........................................................
Minus accumulated depletion .......................................
Other assets ...................................................................
TOTAL ASSETS ................................................
LIABILITIES AND CAPITAL
BEGINNING OF YEAR
END OF YEAR
Accounts Payable ...........................................................
Mortagages, notes and bonds payable ............................
Other current liabilities .....................................................
All nonrecourse loans ......................................................
Other liabilities ................................................................
Partners’ capital accounts ...............................................
TOTAL LIABILITIES AND CAPITAL ...................
Mail return To: State Income Tax, P. O. Box 8026, Little Rock, AR 72203-8026
AR 1050 Back (R 10/00)
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