Bill walden received a $2,100 grant from his employer and, as required by his employer, used all of the money for tuition and fees to take three graduate-school courses during the period september 1 to december 31 of the current year. walden is not a candidate for a degree and has never received a scholarship or fellowship grant before. he had previously met the minimum educational requirements for his employment position; however, due to new requirements established by his employer, these courses were necessary for him to retain his job. in computing his current-year taxable income, walden should include a. gross income of $2,100 and an education expense deduction of $2,100. b. gross income of $2,100 and no education expense deduction. c. no gross income and no education expense deduction. d. gross income of $0 and an education expense of $2,100

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million