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Andru [333]
3 years ago
7

How much interest, if any, can jaxon deduct in year 0 if his business uses the cash method of accounting for tax purposes?

Business
1 answer:
kaheart [24]3 years ago
6 0
<span>Jaxon can deduct in year 0 if his business uses the cash method of accounting for tax purposes $750 under either cash or accrual method of accounting. Jaxon can only deduct two months of interest ([$4,500/12] Ă— 2) because prepaid interest is not deductible under either method of accounting.</span>
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Explanation:

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Which of these are considered rewards of practicing management? Building a catalog of successful products or services Becoming a
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Answer:

The rewards of practicing management include:

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Explanation:

When management is truly practiced, the rewards are usually great.  The rewards cannot be quantified by what one person has accomplished, because it has some multiplier effects.  Organizational efficiency is also improved.  For those in management, they will gain much experience which they can easily pass to others through mentoring and coaching.  With their employees, they will also feel a sense of having accomplished something meaningful.  Management also gives one the ability to go beyond one's natural range, stretching the person's abilities, and enabling her to attain better outcomes than initially imagined.

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3 years ago
Smith Company reported pretax book income of $400,000. Included in the computation were favorable temporary differences of $50,0
Hoochie [10]

Answer:

$10,200

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So, the deferred tax expense is

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