As a CPA, you have been asked to prepare your spouse Betty's year-end financial statements. Betty is a photographer and is the sole shareholder of a small company called Best Weddings Ltd. She photographs weddings, graduations, and schools, and earns about $75,000 per year. Betty has said that she only needs the financial statements for her tax returns and would like you to prepare the tax returns too.

• Would you be able to prepare the financial statements for your spouse?
• Would you be able to prepare the tax returns?
• What type of report would you recommend for the financial statements? (IE: audit, review, or compilation (NTR).

Answer rating: 100% (QA)

1 YesPrior to the divorce process an attorney will need information about your marriage and the accompanying official documents These will include inc... View the full answer