What are some challenges both anticipated and unexpected

Assignment Help Managerial Accounting
Reference no: EM13935235

Because it is important for accountants to demonstrate the filing requirements for specialized tax returns, for this final project you will be completing a partnership tax return and then analyzing this experience.

Key Component:

Use the financial data from the following file to complete Form 1065.

Portfolio_Financials.xlsx - attached below

Complete the following template that has the respective tax forms and schedules required to complete the return. Complete all of the parts of your respective business tax return for which there is information.

Portfolio_Financials_Student_Template.docx - attached below

In the space at the bottom of the template, show your income tax calculations and prepare a write-up on some questions contained within the tax return. Look at the information on Form 1065 Schedule B. With the exception of line 1, discuss the purpose of these questions. (You may select a sub-grouping of these questions to complete your milestone). What are some challenges (identify three to five), both anticipated and unexpected, when completing the partnership tax return? What solutions can you provide to those challenges?

Requirements:

Submit 1) your tax return template and 2) your write-up about the tax return questions to the drop box identified for that submission. (Your paper must be formatted according to the APA Requirements.)

Attachment:- Portfolio_Financials.rar

Reference no: EM13935235

Questions Cloud

Replace job role-training manager by organisation developer : Topic: The current job market shows an emerging trend of replacing the job role of ‘Training Manager' with that of ‘Organisation Development Manager'.
What do you mean by negotiation : What do you mean by Negotiation, What are the Negotiation Techniques, What are the outcome of Negotiation Techniques, What are the suggestion for winning a Negotiation.
Design the environment for the system : Develop a design plan and schedule detailing your plans for the next 4 weeks in order to deliver the tasks specified. This should cover what design decisions must be made and who should make them; what tasks must be performed and in what order;
Audit and monitoring network security purposes : Task Instructions In this context, consider Linux environment only. Further assumptions may be required to answer the above questions. So, use appropriate assumptions where needed to support your solutions. You are expected to write between 400-60..
What are some challenges both anticipated and unexpected : What are some challenges (identify three to five), both anticipated and unexpected, when completing the partnership tax return? What solutions can you provide to those challenges?
Fraudulent accounting described affect the current ratio : How did the fraudulent accounting just described affect the current ratio?
Using the concept of incremental analysis : Using the concept of incremental analysis, expand on Nick's response of Why do you want to know?
What key events represent the romantic view of leadership : Go to www.gsk.com, What key events represent the romantic view of leadership and what events describe the external control perspective leadership
Coordinate the other source files, main calls functions : Copy the directory lab5 from the cis18b directory. This is the directory where you will do your work for Module 5 lab. In this directory are some source files that work together to allow the user to multiply 2 integers (yes, the code is a no-brain..

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Direct materials costs to goods in process inventory

Swisher Company's computer system generated the following trial balance on December 31, 2013.

  Determine how many miles fred needs to drive to break even

Determine how many miles Fred needs to drive to break even. (Round intermediate calculations to 2 decimal places.)

  Managerial accounting-conversion costs

What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)

  Retail inventory method to estimate its monthly inventories

Dixon Books uses the retail inventory method to estimate its monthly ending inventories. The following information is available for two of its departments at October 31, 2015.

  Calculate the overhead cost per account

What is the price if a markup of 35% on total cost is used to determine the price and calculate the overhead cost per account for the Money Market Checking.

  Schedule of cost of goods manufactured

Preparation of a schedule of costo goods Manufactured and cost goods sold. The following cost and inventory data for the just completed year are taken from the accounting records of eccfles company:

  In addition to the information presented in mini exercises

In addition to the information presented in Mini Exercises 14.1 and 14.2, ABC Company currently pays a standard rate of $1 per pound for raw materials.

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Distributes various plumbing products used in homes

In Problem 9-45, Cain Components manufactures and distributes various plumbing products used in homes and other buildings.

  Compute the amount of interest costs capitalized each year

If it is assumed that the production complex has an estimated life of 20 years and a residual value of zero, compute the straight-line depreciation in 2010.

  Claim myrtle under a multiple support agreement

Myrtle is fully supported by her three children and Fred, a close friend of the family. Mark paid $4,000 toward Myrtle's support, while Nancy, Opel, and Fred paid $3,200, $ 800, and $2,000 respectively. Which individual are eligible to claim My..

  How does the use of the fifo versus the lifo cost flow

How does the use of the FIFO versus the LIFO cost flow assumptions affect the statement of cash flows?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd