Form 480.20 - Corporation Income Tax Return Page 3
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2
3
400
Form 480.20 Rev. 05.03
Corporation - Page 3
Corporation - Comparative Balance Sheet
3 7
Beginning of the Year
Ending of the Year
Assets
Total
Total
00
00
1.
Cash on hand and in banks .....................
(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)
3
(
)
(
)
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.
Notes payable ..........................................
(13)
(13)
00
00
14.
Accrued expenses ..................................
(14)
(14)
00
00
15.
Other liabilities ......................................
(15)
(15)
00
00
16.
Total Liabilities ..................................
(16)
(16)
Stockholder's Equity
17.
Capital stock
00
00
(a) Preferred stocks ...............................
(17a)
(17a)
00
00
(b) Common stocks ...............................
(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
22.
Total Liabilities and Stockholder's Equity
(22)
(22)
00
Reconciliation of Net Income (or Loss) per Books with Net Taxable Income (or Loss) per Return
3 8
0 0
1.
Net income (or loss) per books ..............
7.
Income recorded on books this year not included
(1)
0 0
2.
Income tax .............................................
on this return (Itemize, use schedule if necessary)
(2)
3.
Excess of capital losses over capital
(a) Exempt interest ______________________
0 0
gains .......................................................
(b) __________________________________
(3)
4.
Taxable income not recorded on books
(c) __________________________________
this year (Itemize)
(d) __________________________________
(a) _____________________________
Total .................................................................
00
(7)
(b) _____________________________
8.
Deductions on this tax return not charged against
(c) _____________________________
book income this year (Itemize, use schedule if
(d) _____________________________
necessary)
0 0
Total ......................................................
(a) Depreciation ________________________
(4)
5.
Expenses recorded on books this year not
(b) __________________________________
claimed on this return (Itemize, use
(c) __________________________________
schedule if necessary)
(d) __________________________________
00
(a) Meal and entertainment (amount
Total ................................................................
(8)
00
not claimed) ___________________
9.
Total (Add lines 7 and 8) ...............................
(9)
(b) Depreciation ___________________
10.
Net taxable income (or loss) per return
0 0
(c) _____________________________
(Subtract line 9 from line 6) ............................
(10)
(d) _____________________________
0 0
Total ......................................................
(5)
0 0
6.
Total (Add lines 1 through 5) ...............
(6)
Analysis of Retained Earnings per Books
3 9
00
00
1.
Balance at the beginning of the year ......
5.
Distributions:
(a) Cash ................................
(1)
(5a)
00
00
2.
Net income per books ...........................
(b) Property .........................
(2)
(5b)
00
3.
Other increases (Itemize, use schedule if
(c) Stocks .............................
(5c)
6.
Other decreases (Use schedule if necessary) ...........
00
necessary) _______________________
(6)
7.
Total (Add lines 5 and 6) ................................
00
________________________________
(7)
00
8.
Balance at end of year (Subtract line 7 from
________________________________
(3)
00
line 4) ..............................................................
4.
Total (Add lines 1, 2 and 3) .................
(4)
(8)
00
Conservation Period: Ten (10) years
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