With an assumption that the company's accounting year is same as the calender year, the income statement would show $1,000 of rent expense.
<h3>What is an
income statement?</h3>
An income statement refers to a financial statement that shows a firm's income and expenditures for an accounting year.
Rent expenses = $2,400 prepaid rent / 12 months
Rent expenses = $200 per month
Rent expenses = $200 rent expense per month x 5 months (in Year 2)
Rent expenses = $1,000 rent expense
In conclusion, with an assumption that the company's accounting year is same as the calendar year, the income statement would show $1,000 of rent expense.
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In passive sentences , the subject receives the action verb . The most commonly used verb tenses for this form are present continuous and past continuous. For now let’s keep going with the present continuous
Answer:
B) False: since it is still a closely held C corporation, it cannot reduce its ordinary income through passive losses. If it hadn't been a closely held C corporation then it could have made the deductions.
Explanation:
Passive losses are losses resulting from financial activities, i.e. investments in other corporations where the investor doesn't participate in.
Passive losses cannot offset ordinary income, they must be matched against passive gains only. If passive losses exceed passive gains, they can be carried forward without limitation.
The only exception applies to C corporations that are not;
- closely held corporations or
- personal service corporations.
Qualifying C corporations can actually deduct passive losses from certain ordinary income.
Closely held C Corporations are corporations where during the last 6 months, 50% or more of its stock is owned by 5 or fewer investors.
Answer:
No Consistir en el valor total de la producción corriente de bienes y servicios finales dentro del territorio nacional durante un período de tiempo que, generalmente, es un año .
Explanation:
Si no te sirve me dice
Answer:
Mrs. Blackwell and Mr. Choi arrived into a contract concerning the compensation for the effort done by Mr. Choi to Mrs. Blackwell. The contract was employed by each gatherings and that acmes the thought for the guarantees created by Mrs. Blackwell.
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If Mr. Choi has some responsibility for the expenditures then he ought to have evaded language the agreement or the contract
- Although, language the procedure he has acknowledged the potential or the circumstances stated within the agreement
- The probable in convalescent the exposed compensation would be fully trusted upon the Mrs. Blackwell, since they're already concerned within the contract
Therefore, by seeing the conditions it is terminated that Mr. Choi might not have acknowledged any get pleasure from the assertion.
