subject
Business, 18.02.2020 00:39 edith47

Determine the amount of taxable income that should be reported by a cash-basis taxpayer in 2018 in each of the following independent cases: a. A taxpayer completes $500 of accounting services in December 2018 for a client who pays for the accounting b. A taxpayer Is in the business of renting computers on a short-term basis. On December 1, 2018, she rents a c. Same facts as (b) except that the computer is returned on January 5. 2019. work in January 2019. computer for a $180 rental fee and receives a $450 deposit. The customer returns the computer and is refunded the deposit on December 20, 2018. d. On December 18, 2018, a landlord rents an apartment for $505 per month and collects the first and last months' rent up front. It is customary that tenants apply the security deposit to their last month's rent upon moving o e. An accountant agrees to perform $355 of tax services for an auto mechanic who has agreed to perform repairs on the car of the accountant's wife. The mechanic repairs the car in December 2018 and the accountant starts and completes the tax work in March 2019. Complete the question by entering your answers in the tabs below. Req a to d Req e a. A taxpayer completes ss00 of accounting services in December 2018 for a client who pays for the accounting work in January 2019 b. A taxpayer is in the business of renting computers on a short-term basis.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 05:10
1. descriptive statistics quickly describe large amounts of data can predict future stock returns with surprising accuracy statisticians understand non-numeric information, like colors refer mainly to patterns that can be found in data 2. a 15% return on a stock means that 15% of the original purchase price of the stock returns to the seller at the end of the year 15% of the people who purchased the stock will see a return the stock is worth 15% more at the end of the year than at the beginning the stock has lost 15% of its value since it was originally sold 3. a stock purchased on january 1 cost $4.35 per share. the same stock, sold on december 31 of the same year, brought in $4.75 per share. what was the approximate return on this stock? 0.09% 109% 1.09% 9% 4. a stock sells for $6.99 on december 31, providing the seller with a 6% annual return. what was the price of the stock at the beginning of the year? $6.59 $1.16 $7.42 $5.84
Answers: 3
question
Business, 22.06.2019 10:30
6carla would like to buy a dress, a dresser for her bedroom, and a home theater system. she has one month's worth of living expenses in her emergency fund. carla decides to save for the home theater system. did carla make the right decision? why or why not? a. yes; her emergency fund is full and the other items will probably be less expensive. b. yes; she could save more for her emergency fund, but the home theater will be harder to save for. c. no; she should save more for her emergency fund because she has saved less than the recommended amount. d. no; she should have bought the dress and dresser first because she could afford them right away. reset next
Answers: 2
question
Business, 22.06.2019 13:00
Amajor advantage of case studies is
Answers: 2
question
Business, 22.06.2019 17:50
Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit.the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not
Answers: 1
You know the right answer?
Determine the amount of taxable income that should be reported by a cash-basis taxpayer in 2018 in e...
Questions
question
Mathematics, 27.01.2021 18:50
question
Mathematics, 27.01.2021 18:50
question
Mathematics, 27.01.2021 18:50
Questions on the website: 13722363