nothing
yes return inward is a liability..therefore must be credited
purchase return is assets or liability or expense
Yes
It means that they have joint liability as a couple and also individual liability, so that each one can be charged separately.
Sales returns and allowances is not a liability rather these are expenses or reduction in actual sales
There are estimated tax return calculators. You can find them on the IRS's website. You can also just try looking at material from local accountants too.
Yes owners capital is liability for businss towards its owners to be return back at the even of liquidation of business.
Yes. If ou have filed a return that is not accurate you need to file an amended return that is as accurate as possible with the IRS. Even if this means no change in liability. If your return is inaccurate the IRS will audit your return. Keeping the IRS out of your business is a vry good thing.
The IRS has a strict set of rules for everyone who prepares taxes. So due to these rules it is required that accountants keep a tax return transcript on file for at least 7 years. Some though will keep them on file for a lot longer.
Capital is that amount which is invested by owner of business in business and it's the liability for business to return back to it's owner that's why it is liability.
Here is a lot of information on LLC tax returns: http://www.irs.gov/businesses/small/article/0,,id=98277,00.html
Capital account is liability nature of account because any capital introduce by owner towards business is the liability of business to return to it's owner.