Answer:
Accrual shows face amount as revenue
revenue = $25,000
(12,000) (7/36)= $2,333 (regognized in 2017)
Total income reported in 2017 = $27,333
The next year she would show the remainder of 12,000 from 26 month contract
For tax purposes, max of 2 year deferral for payment recieved in advance.
Answer:
its b i am pretty sure its b
Answer:
Check the following calculations
Explanation:
Answer [a]
Preferred stock shares issued and outstanding = $ 105,000 / $ 50 par value = 2,100 shares
Answer [b]
Common Stock shares outstanding = Total issued – Treasury stock shares
= ($40000 / $4 par) – 4000 shares
= 10000 – 4000
= 6,000 shares
Answer [c]
Cost of Treasury shares = $ 15000 / 4000 shares = $ 3.75
Answer:
d) Connie’s personal use of the vehicle is taxable.
Explanation:
The IRS considers the following as personal use of a company's car:
- commuting to and from work (it is your responsibility to get to work, not the company's)
- vacation use
- if a family member, friend or anyone else not employed by the company uses the car
- any trips that is not strictly for business purposes, and this includes trips for medical issues
Personal use of a car company is considered a fringe benefit which is taxed as ordinary income.
Because take me for an example i want to be a marine biologist and a doctor and a missionary well that right there is 3. so the are divided because you can always choose more.
