I need help answering these questions for my assignment

structions: Form 1089 1 MPTC Capstone Company sells and repairs racing bicycles. The sole-proprietor owner of the company wants you to determine 099-MISC or 1099-MEC forms need to be prepared for the following five events that occurred during the tax year. You may arence resources from other courses you have completed in your Accounting Program to assist you in completing the work. ur work will be performed in accordance with current laws and regulations. Business Events MPTC Capstone Company pays a sole-proprietor painting business to paint the business sign $950. MPTC Capstone Company pays rent of 51,200 to the owner of a parking lot for use of the lot. MPTC Capstone Company pays rent of 5300 to the owner of a jet-ski for use at the summer work picnic at the lake. MPTC Capstone Company pays a sole-proprietor drywall business to fix break room wall 3475. MPTC Capstone Company pays rent of $2,000 to the owner of a crane which was used to remove a tree limb above the store. Does a 1099 form need to be prepared - yes or no' C Instructions: Form ST-12 Use the provided financial information from a sample company, for the 4th quarter of the year, to assist you in providing the required amounts. Use Wisconsin sales tax rate of 5% for this example. Please remember, you can also reference resources from other courses you have completed in your Accounting Program to assist you in completing the work. Your work will be performed in accordance with current laws and regulations. You need to provide the following items in the yellow highlighted spaces on the template, Round your answers to the nearest dollar: 1. Identify the state sales tax amount for the 4th quarter per Form ST-12 calculations. 2. Identify account name that should match amount from question #1. 3. Identify when sales tax amount due will be paid to the state. Companany Information Sales subject to state sales tax: 6,460 Portion of Current liabilities, Balance Sheet, year-ended Dec. 31, 20xx Note: 401k program started in 4th qtr.,company matches 100% of employee contributions 401K Payable $ 250 FICA Payable $ 655 FIT Payable $ 122 FUTA Payable $ 83 Wages Payable $ 285 SUI Payable $ 171 SIT Payable $ 205 Sales Tax Payable $ 323lance Sheet, year-ended Dec. 31, 20xx 6,460 5250 5655 5122 5 83 5285 5171 5205 5323 1. Total state sales tax amount for the 4th quarter should be 2. Account name that balance should match amount from question #1 3. When will sales tax amount due be paid to the state. Instructions: Form 1040 The MPTC Capstone Company sells and repairs racing bicycles. The sole-proprietor owner of the company wants you to prepare their personal Federal Income tax joint return for the tax year. The owner was not sure of what information you would need to prepare form 1040, so they provided you with several documents and pieces of information both personal and from their business. For this assignment, befare you can prepare form 1040 and any related schedules, you need to go through the list of items the owner provided to you, and determine which items are relevant to preparing the Form 1040. The first item has been done for you as an example. Please be aware including items in preparing form 1040 that are not relevant will lead to a reduction in points. You may reference resources from other courses you have completed in your Accounting Program to assist you in completing the work. Your work will be performed in accordance with current laws and regulations. Personal Information Provided Full name and Social Security number for the owner. Full name and Social Security number for the spouse of owner. Full names and Social Security numbers for the 2 dependent children of owner. Repair bill for residential lawn mower. Adoption expenses for adoption completed in the tax year for 1 of owner's dependents. Home address. Expenses for family vacation. 1099-INT Form for tax year. Personal car maintenance expenses for the tax year. Spouse's form 'W-2 for the tax year. Personal residence appraisal from 3 years ago. Charitable donations for the tax year. Real Estate tax bill paid in the tax year. Business Information Provided Business Income Statement for the tax year. Reports with the financial ratios for the business during the tax year. Business Fixed Asset reports including depreciation and historical cost information. Business efficiency reports. Information from quarterly income tax estimate forms 1040-E5 and 1-E5. Business vehicle mileage reports for tax year. Estimate for potential addition to the business showroom. Is this information relevant(needed) to prepare form : yes-correct answer provided as example oprietor owner of the company wants you to prepare 'was not sure of what information you would need to es of information both personal and from their business. edules, you need to go through the list of items the ng the Form 1040. The first item has been done for you at are not relevant will lead to a reduction in points. You ccounting Program to assist you in completing the work. dependents. Is this information relevant{needed) to prepare form 1040 and related tax schedules - yes or no? yes-correct answer provided as example