Answer:
Great Lakes should recognize on the income statement for the year ending December Year 1 $4,000
Explanation:
The income statement only recognize the amount of money that was generated during the period of the income statement.
If the company invoiced by month, it only recognize the total amount for the last four months of the year.
Answer:
$250,000 and $500,000
Explanation:
According to the tax laws there is annual limit on Loss deductions relating the amount of business loss that can be deducted in a year.
The law states that single or individual tax payers can deduct nothing more than $250,000 while married taxpayers who are filing jointly can deduct up to $500,000 per year of their business losses.
Therefore, if Jahlil is single the amount of partnership loss he can deduct is $250,000 but if he is married filing jointly, he can deduct $500,000
<span>Herman would have to take action if he find's out from Sally that Jake has a visual impairment. He would have to consider whether or not he could reasonably make changes that would allow Jake to still do his job, or if the needed changes would cause an undue hardship on the business.</span>
What is the difference between a horizontal merger and a vertical merger?
A vertical merger is one in which a firm or company combines with a supplier or distributor, while a horizontal merger is when two companies competing in the same market merge or join together. Or u can also u this one... Merger-a combination of two companies
horizontal-combo of firms competing in the same market with the same good or service
vertical-the combo of two firms involved in different states of producing the same good or service
conglomerates-business combo merging more than three businesses that make unrelated products