Financial Reporting And Tax Issues At JC Construction Corporation: An Instructional Case
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Keywords
financial reporting, tax issues, construction corporations
Abstract
JC Construction Corporation (JCCC) is a privately held corporation with 10 shareholders, who are all members of the Carpenter family. The company was founded by Joe Carpenter in the late 1990s. The company’s projects involve mostly comparatively small commercial building construction, such as restaurants and smaller-scale stores. JCCC specializes in renovation and restoration projects rather than new construction, but does occasionally take on some new construction projects. The company does not build or renovate single family homes. JCCC is located in Minnesota, near the Minneapolis/St. Paul area where remodeling contractors are in high demand.
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