Form Schedule M-1 Schedule M-1 Reconciliation of Income (Loss) per Books With Income pe

Version A, cycle 5
Page 5

Form 1120 (2008)

Schedule L

Balance Sheets per Books

Beginning of tax year
(a)
(b)

Assets
1

Cash .

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b
3
4

Trade notes and accounts receivable .
Less allowance for bad debts . . .
Inventories . . . . . . . .
U.S. government obligations . . .

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Tax-exempt securities (see instructions) .
Other current assets (attach schedule) .
Loans to shareholders . . . . . .

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8 Mortgage and real estate loans . .
9 Other investments (attach schedule) .
10a Buildings and other depreciable assets
b Less accumulated depreciation . .
11a Depletable assets . . . . . .
b Less accumulated depletion . . .

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End of tax year
(c)

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(d)

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DRAFT AS OF
August 27, 2008

12 Land (net of any amortization) . .
13a Intangible assets (amortizable only)
b Less accumulated amortization .
14 Other assets (attach schedule)
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15 Total assets . . . . . . .

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Liabilities and Shareholders’ Equity
16
17
18

Accounts payable . . . . . . . . .
Mortgages, notes, bonds payable in less than 1 year
Other current liabilities (attach schedule) . . .

19
20
21

Loans from shareholders . . . . . . .
Mortgages, notes, bonds payable in 1 year or more
Other liabilities (attach schedule) . . . . .
Capital stock: a Preferred stock . . . . .
b Common stock . . . . .

22
23

Additional paid-in capital

24
25
26

Retained earnings—Appropriated (attach schedule)
Retained earnings—Unappropriated . . . .
Adjustments to shareholders’ equity (attach schedule)

27
28

Less cost of treasury stock
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Total liabilities and shareholders’ equity .

Schedule M-1

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Reconciliation of Income (Loss) per Books With Income per Return
Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more—see instructions

1
2

Net income (loss) per books .
Federal income tax per books .

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3

Excess of capital losses over capital gains .

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4

Income subject to tax not recorded on books this
year (itemize):

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7

Income recorded on books this year not
included on this return (itemize):
$
Tax-exempt interest

8

Deductions on this return not charged
against book income this year (itemize):
a Depreciation . . . $
b Charitable contributions $

9
10

Add lines 7 and 8 . . . . . .
Income (page 1, line 28)—line 6 less line 9

5

Expenses recorded on books this year not
deducted on this return (itemize):
a Depreciation . . . . . $
b Charitable contributions
. $
c Travel and entertainment . $

6

Add lines 1 through 5

Schedule M-2
1
2
3

4

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Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L)

Balance at beginning of year
Net income (loss) per books
Other increases (itemize):

Add lines 1, 2, and 3

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5

6
7
8

Distributions:

a Cash
b Stock

c Property
Other decreases (itemize):

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Add lines 5 and 6 . . . . . .
Balance at end of year (line 4 less line 7)
Form

1120

(2008)