1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alex Ar [27]
4 years ago
10

Ajax Computer Company is an accrual-method calendar-year taxpayer. Ajax has never advertised in the national media prior to this

year. In November of this year, however, Ajax paid $1.8 million for television advertising time during a "super" sporting event scheduled to take place in early February of next year. In addition, in November of this year the company paid $1,300,000 for a one-time advertising blitz during a professional golf tournament in April of next year. What amount of these payments, if any, can Ajax deduct this year?a. $1.80 million.b. $3.10 million only if the professional golf tournament is played before April 15.c. $1,300,000.d. No deduction can be claimed this year.e. $3.10 million.
Business
1 answer:
alisha [4.7K]4 years ago
5 0

Answer:

a. $1.80 million

Explanation:

This is due to the fact  that under the 3½ month rule payment qualifies as economic performance provided the services are to be rendered within 3.5 months.

Therefore, Ajax can deduct $1.80 million

You might be interested in
A common solution to the free-rider problem is Choose one or more: A. for government to provide the good and then pay for its pr
seraphim [82]

Answer:

A. for government to provide the good and then pay for its production through taxation.

Explanation:

Free Riding is an economic problem implying usage of 'non excludable' good, by people not contributing to pay for it.

Example : Roads, Bridges etc.

One most suitable solution to free rider problem is : Providing it through government and treating all prospective beneficiaries as unified consumers set , dividing the entire total cost equally between all of them - through mechanism of taxation

5 0
4 years ago
Based on the net income of the shop, the sales staff at Francesca's Fashions receive performance bonuses. In periods of declinin
lana [24]

Answer:

B: LIFO

Explanation:

Based on the information provided it can be said that in this situation the costing method that would bring the most benefit would be LIFO costing method. This acronym refers to last-in-first-out and describes a method of assuming that the last items that enter an inventory are always the first ones to be sold during that accounting year. This method would provide the most benefit because it usually results in higher cost of goods sold and a lower overall inventory.

4 0
4 years ago
The transactions listed below are typical of those involving New Books Inc. and Readers’ Corner. New Books is a wholesale mercha
ArbitrLikvidat [17]

Answer:

(A) Inventory increases by 595,000

(B) Inventory decreases by 14,500

(C) no effect

Inventory balance: 595,000 - 14,500 = 580,500

Explanation:

<u>We are asked for Readers' Corner</u>

(A) Reades purchase at 595,000 so we use this value. Reader has no informaiton about the cost of New Books.

(B) there is an allowance for 14,500 the inventory account will decrease immediately as it works with perpetual invnetory method

(C) no effect. The payment do not alter the invnetory valuation.

5 0
4 years ago
what background,heritage and culture did the father give as evidence that wind wolf was well educated and cared for?​
ycow [4]

Answer:

This is the story of a very well educated little wolf. His parents taught him to be courteous to others. One day he goes out to the forest to hunt for the first time and catches a rabbit. When he is ready to devour him, the rabbit asks him to read a story. So, the polite wolf goes home for a book. When he returns, the rabbit is gone. Then he hunts a chicken that does the same trick: he asks as a last will that the wolf sing a song, but he also escapes. But what a lack of education! Why do neither of you keep your promises? In the end the saying is confirmed that who laughs at the last laughs better.

4 0
4 years ago
The accounting equation can be expressed as
mestny [16]

Answer:

D. assets - liabilities = shareholders' equity

Explanation:

The balance sheet paint the picture of the real accounting equation.

Shareholders' equity + Liability = Asset

That is, Asset - Liability = Shareholders' equity

7 0
4 years ago
Other questions:
  • How much will i get monthly for $87000 in boston ma?
    14·1 answer
  • Form 1040EZ is used by individuals who do not claim a lot of deductions. <br> a. True<br> b. False
    13·2 answers
  • An internal report that helps management analyze the difference between actual performance and budgeted performance based on the
    13·1 answer
  • Some states don't allow teacher aides to A. take attendance. B. monitor the halls. C. supervise a bus. D. aid in instructing a c
    6·1 answer
  • Using T-accounts show what happens to reserves at Security National Bank if one individual deposits $1,000 in cash into her chec
    14·1 answer
  • Worldwide economic downturn, global competition, accelerated product innovation by competitors, and increased demands from custo
    15·1 answer
  • Consider the following transactions by a corporation: On July 5, billed a customer for $6700 for services performed on that day.
    10·1 answer
  • Your division has been asked to compile a recommendation for the price point for an innovative software application. You need to
    7·1 answer
  • Jones Company signed a 5-year note payable on January 1, 2019, of $100,000. The note requires annual principal payments each Dec
    15·1 answer
  • 2 times 2 equals what?<br><br> Whats ur favorite 3 songs?
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!