Business, 17.02.2022 14:00 christopherwilde
In 2019, Swan Company discovered that it had for the past 10 years capitalized as a production cost certain expenses that are properly classified as administrative expenses. The total amount of the expense for 2018 was $300,000, $60,000 of the item was included in the ending inventory that year and $240,000 was deducted as cost of goods sold.
a. The company should change its accounting method in 2019, with a $60,000 negative § 481 adjustment which decreases its 2019 taxable income.
b. The company should change its accounting method in 2019 and recognize a $60,000 negative § 481 adjustment that will be spread equally over 2019-2022.
c. The company should amend its 2018 tax return and reduce its income by $240,000.
d. The company should change its accounting method in 2019, and increase its 2019 income by $60,000, the amount of the positive § 481 adjustment to income.
e. None of these choices are correct.
Answers: 2
Business, 22.06.2019 02:00
Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f
Answers: 1
Business, 22.06.2019 12:30
In the 1970s, kmart used blue light specials to encourage customers to flock to a particular department having a temporary sale. a spinning blue light activated for approximately 30 seconds, and then an in-store announcement informed shoppers of the special savings in the specific department. over time, loyal kmart shoppers learned to flock to the department with the spinning blue light before any announcement of special savings occurred. if kmart was employing classical conditioning techniques, what role did the spinning blue light play?
Answers: 3
Business, 22.06.2019 20:00
Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:
Answers: 2
Business, 23.06.2019 02:10
Which of the following best explains the purpose of a supply schedule? a. to calculate how much time it takes for distribution. b. to indicate how supply and demand relate to price. c. to show the relationship between quantity supplied and prices. d. to demonstrate how the supply decreases as price increases.
Answers: 1
In 2019, Swan Company discovered that it had for the past 10 years capitalized as a production cost...
Mathematics, 11.07.2019 09:30
Computers and Technology, 11.07.2019 09:30
Mathematics, 11.07.2019 09:30
Chemistry, 11.07.2019 09:30
World Languages, 11.07.2019 09:30
English, 11.07.2019 09:30
Mathematics, 11.07.2019 09:30
Health, 11.07.2019 09:30
Mathematics, 11.07.2019 09:30
English, 11.07.2019 09:30