Assume the following information appeared on a 201x tax return: Assignment: use the above chart to...
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Assume the following information appeared on a 201x tax return: Assignment: use the above chart to estimate the sources and uses of cash as well as the total cash that can be compared to activities and balances in known accounts. Form Form Description Transation Type 1040 Tax Return Wages 1040 Tax Return Dividend Income 1040 Tax Return Business Income 1040 Tax Return Capital Gain 1040 Tax Return Tax Witholding 1040 Tax Return Tax Payments (201x) 1040 Tax Return Amount You Owe Sch A Itemized Deductions State & Local Taxes Sch A Itemized Deductions Charitable Gifts Sch C Business Income Sales Sch C Business Income Contract Labor Sch C Business Income Depreciation Sch C Business Income Office Amount Source Use 25,000 10,000 12,500 2,500 1,000 300 500 200 400 42,500 24,000 2,500 3,000 Capital Gain 1040 Tax Return 1040 Tax Return Tax Witholding 1040 Tax Return Tax Payments (201x) Amount You Owe 1040 Tax Return. Sch A Itemized Deductions State & Local Taxes Sch A Itemized Deductions Charitable Gifts Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch D Capital Gain Sch D Capital Gain Sch D Capital Gain 4562 Depreciation 4562 Depreciation Net Cash Sales Contract Labor Depreciation Office Other Net Profit (or Loss) Proceeds Cost Gain Or (Loss) Purchase of Assets Write-off 2,500 1,000 300 500 200 400 42,500 24,000 2,500 3,000 500 12,500 11,000 8,500 2,500 5,500 2,500 Assume the following information appeared on a 201x tax return: Assignment: use the above chart to estimate the sources and uses of cash as well as the total cash that can be compared to activities and balances in known accounts. Form Form Description Transation Type 1040 Tax Return Wages 1040 Tax Return Dividend Income 1040 Tax Return Business Income 1040 Tax Return Capital Gain 1040 Tax Return Tax Witholding 1040 Tax Return Tax Payments (201x) 1040 Tax Return Amount You Owe Sch A Itemized Deductions State & Local Taxes Sch A Itemized Deductions Charitable Gifts Sch C Business Income Sales Sch C Business Income Contract Labor Sch C Business Income Depreciation Sch C Business Income Office Amount Source Use 25,000 10,000 12,500 2,500 1,000 300 500 200 400 42,500 24,000 2,500 3,000 Capital Gain 1040 Tax Return 1040 Tax Return Tax Witholding 1040 Tax Return Tax Payments (201x) Amount You Owe 1040 Tax Return. Sch A Itemized Deductions State & Local Taxes Sch A Itemized Deductions Charitable Gifts Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch C Business Income Sch D Capital Gain Sch D Capital Gain Sch D Capital Gain 4562 Depreciation 4562 Depreciation Net Cash Sales Contract Labor Depreciation Office Other Net Profit (or Loss) Proceeds Cost Gain Or (Loss) Purchase of Assets Write-off 2,500 1,000 300 500 200 400 42,500 24,000 2,500 3,000 500 12,500 11,000 8,500 2,500 5,500 2,500
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Answer A Sources and Uses of cash schedule gives a summary of where capital will come from ie the So... View the full answer
Related Book For
Principles of Cost Accounting
ISBN: 978-1305087408
17th edition
Authors: Edward J. Vanderbeck, Maria Mitchell
Posted Date:
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