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babunello [35]
3 years ago
13

With respect to income from services, which of the following is true?a. The income is always amortized over the period the servi

ces will be rendered by an accrual basis taxpayer.b. A cash basis taxpayer can spread the income from a 24-month service contract over the contract period.c. If an accrual basis taxpayer sells a 36-month service contract on July 1, 2017 for $3,600, the taxpayer's 2017 gross income from the contract is $600.d. If an accrual basis taxpayer sells a 24-month service contract on July 1, 2017, one-half (12/24) the income is recognized in 2018.e. None of these.
Business
1 answer:
shtirl [24]3 years ago
8 0

Answer:

C. If an accrual basis taxpayer sells a 36-month service contract on July 1, 2017 for $3,600, the taxpayer's 2017 gross income from the contract is $600.

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A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $900,000 with an estimated useful life of 1
gavmur [86]

Answer:

depreciation expense 2017 = $180,000

depreciation expense 2018 = $144,000

depreciation expense 2019 = $115,200

Explanation:

purchase cost $900,000

estimated useful life 10 years

depreciation expense using double declining method = 2 x regular straight method depreciation rate x purchase cost

depreciation expense 2017 = 2 x 1/10 x $900,000 = $180,000

depreciation expense 2018 = 2 x 1/10 x $720,000 = $144,000

depreciation expense 2019 = 2 x 1/10 x $576,000 = $115,200

8 0
3 years ago
Diseconomies of scale means that a company is too small to purchase in bulk and is unable to lower costs.
Vinvika [58]

Answer:

Diseconomies of scale are when production output increases with rising marginal costs. ... Fixed costs do not change with increases/decreases in units of production volume, while variable costs are solely dependent, which results in reduced profitability. They show how well a company utilizes its assets to produce profit.

Explanation:

It's true.

3 0
2 years ago
Read 2 more answers
The hourglass model for structuring effective business presentations suggests you should:_______.
mrs_skeptik [129]

Answer:

Begin and end your presentation with motivating context

Explanation:

Just as the hourglass is shaped with a large top, narrow middle and a large bottom. Presentations should start on a general and motivational context.

The middle of the presentation should focus on some details and procedures on how to achieve set goals and objectives of the topic. This is where practical steps are given to the audience.

The end of the presentation should again be a motivational context again. The audience is made to see the big picture of the situation.

6 0
2 years ago
Jennifer is excited to be retiring after 35 years of service as a high school English teacher. Over the past 35 years, Jennifer'
LiRa [457]

Answer: $925.505

Explanation:

Given that,

Number of years of service = 35

Jennifer's average annual salary = $26,443

There is one assumption that she will receive 42% of her average annually.

Receive on a annually basis = 42% of $26,443

                                               = 0.42 × $26,443

                                               = $11,106.06

Jennifer expect to receive on a monthly basis = \frac{Receive\ on\ annually\ basis}{12}

                                                                             = \frac{11,106.06}{12}

                                                                             = $925.505

4 0
2 years ago
Which type of password would be considered secure? AYour social media handle and current age. BA line from your favorite song. C
Sholpan [36]
D, none of the above
8 0
2 years ago
Read 2 more answers
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