(1) Your assignment is to complete the corporate M-1 for each of the problems below. This project is due per the Syllabus. You should show your work by completing the Form 1120 M-1 for each problem. FOR ELECTRONIC SUBMISSIONS IN ONLINE CLASSES, PLEASE MAKE EVERY EFFORT TO SUBMIT, IF POSSIBLE, EITHER A SINGLE PDF OR A SINGLE WORD DOCUMENT OF THE ENTIRE TAX RETURN FORM. THANK YOU.

(2) The Project is worth 50 points

(3) Check figures for M-1

Line 1: Jonathan Corp.: 386,250; Garrett Corp.: 174,100

Line 10: Jonathan Corp.: 122,000; Garrett Corp.: 265,000

Based in part on problems from leading textbooks

Jonathan Corporation, a calendar year and accrual method taxpayer, provides the following information and asks you to prepare Schedule M-1 for 2019.
Net income per books (after-tax) $386,250 Federal income tax per books 30,050

Tax-exempt interest income 5,000

Life insurance proceeds received as a

result of death of corporate president 300,000

Nondeductible penalties 2,500

Interest on loan to purchase tax-exempt bonds 1,700

Excess of capital losses over capital gains 5,300

Premiums paid on life insurance policy on life of

Eagle’s president 4,200

Excess of tax depreciation over book depreciation 3,000

The following information for 2019 relates to Garrett Corporation, a calendar year, accrual method taxpayer.
Net income per books (after-tax) $174,100 Federal income tax per books 86,600

Tax-exempt interest income 4,500

MACRS depreciation in excess of straight-line

depreciation used for financial accounting

purposes 7,200

Excess of capital loss over capital gains 9,400

Non-deductible meals and entertainment 5,500

Interest on loan to purchase tax-exempt bonds 1,100

Based on the above information, use M-1 of Form 1120, which is available on the IRS website, to determine Garrett Corporation’s taxable income for 2019.

The post REVIEW PROJECT FOR TAXATION CLASS appeared first on Versed Writers.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.


WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
? Hi, how can I help?