- 10 - Item Beginning of year End of year Assets: Cash $295 -- Trade notes and accounts receivable 10,034 -- Loans to stockholders 131,940 $111,484 Buildings & other depreciable assets less accumulated depreciation 20,383 816 Other assets (goodwill) 13,700 -- Total assets 176,352 112,300 Liabilities and stockholders’ equity: Accounts payable 35,653 28,898 Loans from stockholders 19,500 -- Mortgages, notes, bonds payable in 1 year or more 137,250 -- Capital stock: Common stock 10,000 10,000 Retained earnings-- Unappropriated (26,051) 73,402 Total liabilities and stockholders’ equity 176,352 112,300 Petitioner signed and filed Mid-Nebraska’s Form 1120, U.S. Corporation Income Tax Return, for the year ended December 31, 1993 (1993 return), on or about September 15, 1994. The 1993 return indicated that it was a final return. A Schedule L, Balance Sheet, filed with the 1993 return reflected the following assets, liabilities, and stockholders’ equity at the beginning and end of the year:Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011