Question: Prepare the tax return for 2019 using the appropriate forms and schedules TSU, Inc. is a corporation that was formed on April 1, 2020. Its

Prepare the tax return for 2019 using the appropriate forms and schedules
Prepare the tax return for 2019 using the appropriate forms and schedules

TSU, Inc. is a corporation that was formed on April 1, 2020. Its address is 3201 Wheeler, Houston, TX 77004, and its Employer Identification Number is 31-2345678. Balance Sheet - TSU, Inc. (December 31, 2020) Assets: Cash Inventory Equipment Display shelving Office furniture Computers Accumulated depreciation) Organization costs Start-up costs Total Assets $122,526.29 9,100.00 23,600.00 8,950.00 3,675.00 3,890.00 (4,959.00) 4,500.00 1,660,00 $1,72,942.29 Liabilities: Withholding payable Sales tax payable Loan payable Total liabilities $ 1,393.47 1,234.64 20,459.27 $ 23,087.38 Equity: Common stock Current earnings Distributions Total equity $100,000.00 59,854.91 (10,000.00) $149,854.91 Total liabilities plus equity $172,942.29 TSU, Inc. is a corporation that was formed on April 1, 2020. Its address is 3201 Wheeler, Houston, TX 77004, and its Employer Identification Number is 31-2345678. Balance Sheet - TSU, Inc. (December 31, 2020) Assets: Cash Inventory Equipment Display shelving Office furniture Computers Accumulated depreciation) Organization costs Start-up costs Total Assets $122,526.29 9,100.00 23,600.00 8,950.00 3,675.00 3,890.00 (4,959.00) 4,500.00 1,660,00 $1,72,942.29 Liabilities: Withholding payable Sales tax payable Loan payable Total liabilities $ 1,393.47 1,234.64 20,459.27 $ 23,087.38 Equity: Common stock Current earnings Distributions Total equity $100,000.00 59,854.91 (10,000.00) $149,854.91 Total liabilities plus equity $172,942.29

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