subject
Business, 07.03.2020 04:55 S4NCHEZ28

Andrew owns 100% of the stock of Crow’s Farm Inc., an S corporation, that raises cattle and corn. The farm’s annual gross receipts have never exceeded $3 million and the farm is not considered a tax shelter.
a. The farm must report its sales and cost of goods sold by the accrual method because inventories are material to the business.
b. The income from the farm may be reported by the cash method.
c. The income from the sales of cattle may be reported by the cash method, but the income from the sales of corn must be reported by the accrual method.
d. The income from the sales of corn may be reported by the cash method, but the income from cattle sales must be reported by the accrual method.
e. None of the above.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 21:00
Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?
Answers: 1
question
Business, 22.06.2019 01:30
Can you post a video on of the question that you need on
Answers: 2
question
Business, 22.06.2019 11:30
(select all that apply) examples of email use that could be considered unethical include denying receiving an e-mail requesting that you work late forwarding a chain letter asking for donations to a good cause sending a quick message to your friend about last weekend sending your boss the monthly sales figures in an attachment setting up a meeting with your co-worker sharing a funny joke with other employees
Answers: 2
question
Business, 22.06.2019 16:20
Stosch company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of december 31, year 1. if retained earnings on the balance sheet as of december 31, year 2, amount to $74,000 and stosch paid a $28,000 dividend during year 2, then the amount of net income for year 2 was which of the following? a)$23,000 b) $35,000 c) $12,000 d)$42,000
Answers: 1
You know the right answer?
Andrew owns 100% of the stock of Crow’s Farm Inc., an S corporation, that raises cattle and corn. Th...
Questions
question
Mathematics, 05.05.2020 17:21
question
Computers and Technology, 05.05.2020 17:21
question
Mathematics, 05.05.2020 17:21
Questions on the website: 13722363