Trial Balance
Assets
8.2M
Liabilities
3.1M
Equity
5.1M
Book Income
425K
M-1 Adj
38K
Tax Income
463K
| Account | Year over Year | Federal (K-1) | Book-Tax Reconciliation | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Acct # | Description | Prior Yr | Current | Variance | Box | Detail | Line | Book | Temp | Perm | Tax | ||
| 4010 | Interest Income - US Banks | 28,500 | 30,000 | +5% | 5 | Bank interest | II-11 | 30,000 | — | — | 30,000 | ||
| 4011 | Interest Income - US Government | 12,000 | 15,000 | +25% | 5 | US Govt interest | II-11 | 15,000 | — | — | 15,000 | ||
| 4012 | Interest Income - Foreign | — | 5,000 | NEW | 5 | Foreign source | II-11 | 5,000 | — | — | 5,000 | ||
| 6100 | Depreciation Expense | 85,000 | 95,000 | +12% | 12 | MACRS Depreciation | II-27 | 95,000 | 45,000 | — | 140,000 | ||
| 6200 | Meals & Entertainment | 10,800 | 12,500 | +16% | 13L | 50% disallowed | II-22 | 12,500 | — | (6,250) | 6,250 | ||
| 6300 | Utilities | 3,900 | 4,200 | +8% | 13 | Utilities expense | II-30 | 4,200 | — | — | 4,200 | ||
| 6400 | Insurance | 8,200 | 8,900 | +9% | 13 | Insurance expense | II-30 | 8,900 | — | — | 8,900 | ||
| 7500 | Consulting Fees - Other | — | 8,000 | NEW | 13 | Consulting | II-30 | 8,000 | — | — | 8,000 | ||
| 6500 | Professional Fees - Legal | 22,000 | 25,000 | +14% | 13 | Legal fees | II-30 | 25,000 | — | — | 25,000 | ||
| 6510 | Professional Fees - Accounting | 17,500 | 18,500 | -6% | 13 | Accounting fees | II-30 | 18,500 | — | — | 18,500 | ||
| Total (10 shown) | 187,900 | 222,100 | +18% | 222,100 | 45,000 | (6,250) | 260,850 | ||||||