Joe’s cross fit, an accrual-method taxpayer, provides personal training services. on october 30, 2018, barbie pays joe’s cross fit $2,400 cash for 24 months of personal training services ($100/month). barbie’s training sessions beginning on november 1, 2018. for book purposes, joe's cross fit will recognize $200 in income in 2018, $1,200 in 2019, and $1,000 in 2020. for tax purposes, how much of the $2,400 must joe’s cross fit include in gross income in 2018 if joe’s elects to defer prepaid income to the maximum extent possible?

You are the manager of the packaging department in a cookie factory. (obviously, the packaging employees cannot eat the cookies that are transferred in during the period.) after your employees insert cookies into colorful packages (step 1) for display on store shelves, the packages of cookies are then boxed using cardboard cartons (step 2) for shipment to stores. each unit of product is represented by a carton of packaged cookies. the packaging department began the period with 1,000 units of cookies. during the period, 5,000 units of cookies were transferred in from the baking department and 5,500 units of cookies were transferred out to the finished goods department. the number of units of cookies in the ending inventory of the packaging department equals:

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.