Question: Scenario 2 - Form 1120 Reporting On which lines (and Form or Schedule, if applicable) should the following items be reported when completing the Form

Scenario 2 - Form 1120 Reporting

On which lines (and Form or Schedule, if applicable) should the following items be reported when completing the Form 1120 for the current tax year?

Item Where to Report (may be more than one place)
Accounts receivable
Charitable contributions
Depreciation
Inventories
Compensation of officers
Retained earnings - appropriated
Retained earnings - unappropriated

Answer the following question for the scenario in Learning Activity 2. Where would accounts receivable be reported on Form 1120?

a) Schedule L, line 2a

b) Schedule A, line 2

c) Accounts receivable are not reported on the Form 1120.

d) Form 1120, Page 1, line 1a

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