Business, 26.03.2020 19:14 tiffanibell71

In October of year 0, Janine received a $17,680 payment from a client for 34 months of security services she will provide starting on November 1 of year 0. This amounts to $520 per month. Janine is a calendar-year taxpayer.
a. When must Janine recognize the income from the $17,680 advance payment for services if she uses the cash method of accounting?
b. When must Janine recognize the income from the $17,680 advance payment for services if she uses the accrual method of accounting?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 17:10

Acompany's income statement showed the following: net income, $145,000 and depreciation expense, $36,300. an examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,500; merchandise inventory increased $22,200; and accounts payable increased $5,500. calculate the net cash provided or used by operating activities. $209,500 $139,000 $176,100 $186,500 $142,100

Answers: 2

Answer

Business, 22.06.2019 14:30

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false

Answers: 1

Answer

Business, 22.06.2019 15:10

You want to have $80,000 in your savings account 11 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. if the account pays 6.30 percent interest, what amount must you deposit each year? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers: 1

Answer

Business, 22.06.2019 22:10

What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?

Answers: 1

Answer

You know the right answer?

In October of year 0, Janine received a $17,680 payment from a client for 34 months of security serv...

Questions