Answer:
Net income in cash = -$17,000
Net income of accounting= $ 198,000
Explanation:
$123,000 service provided for cash
-$140,000 Expenses paid in Cash
= -$17,000 Net income in cash
$240,000 Services provided on account
-$42,000 Expenses on account
=$198.000 Net Income of accounting
It is referred to as Transition to Production.
Hope it helps!
Brainliest would be nice but don’t got to :)
Answer:
b. $25,716
Explanation:
The total cost recovery Deduction is:
10-year property
MACRS cost recovery ($200,000×0.10) $20,000
7-year property
MACRS cost recovery ($40,000×0.1429) $5,716
Total cost recovery $25,716
Therefore, The total deductions in calculating taxable income related to the machines for 2017 is $25,716.
Answer: Any of these answer choice is correct.
Explanation:
You didn't put the options to the question. The options are:
• There is no remaining obligation to transactions goods.
• The contract has been terminated.
• Goods have been delivered.
• Any of these answer choice is correct.
When consideration has been received before a contract is identified and the consideration is nonrefundable, then the revenue may be recognized when:
• There is no remaining obligation to transactions goods.
• The contract has been terminated.
• Goods have been delivered
Therefore, the correct option is any of the answer choice is correct.
