subject
Business, 20.02.2020 00:58 gabbypittman20

LSG Company is a calendar year, cash basis taxpayer. On November 1, 2018, LSG paid $9,450 cash to the janitorial service firm that cleans LSG’s administrative offices and retail stores. How much of this expenditure can LSG deduct in 2018 assuming that:

a. The expenditure is a prepayment for six months of cleaning services from November 2018 through April 2019?

b. The expenditure is a prepayment for 18 months of cleaning services from November 2018 through April 2020?

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 20:30
Monetary policy in the united states is carried out primarily by which of the following agencies? a. the department of the treasury b. the small business association c. the federal reserve bank d. the u.s. mint 2b2t
Answers: 1
question
Business, 22.06.2019 02:30
Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be
Answers: 1
question
Business, 22.06.2019 18:50
Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?
Answers: 2
question
Business, 22.06.2019 19:40
Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35
Answers: 2
You know the right answer?
LSG Company is a calendar year, cash basis taxpayer. On November 1, 2018, LSG paid $9,450 cash to th...
Questions
question
Mathematics, 17.04.2020 23:05
question
English, 17.04.2020 23:05
question
Mathematics, 17.04.2020 23:05
question
Social Studies, 17.04.2020 23:05
question
Mathematics, 17.04.2020 23:05
Questions on the website: 13722361