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storchak [24]
2 years ago
8

Greenville Industries uses the accrual basis to account for all sales transactions. Sales for 2018 total $ 600 comma 000. Includ

ed in this amount is $ 15 comma 000 in receivables from sales on installment. Installment sales are considered revenue for book​ purposes, but not for tax purposes. Operating expenses total $ 150 comma 000 and are treated the same for book and tax purposes. What is​ Greenville's tax basis in the installment sale​ receivable?
Business
1 answer:
Akimi4 [234]2 years ago
4 0

Answer:

The correct answer to the following question will be "$0".

Explanation:

As we know the given expenses and sales are:

  • Year 2018 sale = $600
  • Operating expenses = $150

Such that the tax base for Greenville throughout the deferred revenue installment sale would be $0 because according to the details given Installment or obligations sales are regarded income mostly for book transactions and not just for taxation purposes.

Therefore the above is the right answer.

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Answer:

C. Bonus Depreciation only covers new equipment.

Explanation:

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8 0
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One would expect a sports team who continues to add players to its roster (beyond the minimum required to "field a team") to eve
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Which of the following, if true, would strengthen the argument to use coercive techniques in this situation?A) The company is on
irinina [24]

Answer:

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Now, if the company has the luxury of hiring temporary workers to take care of the backlog and finish it on time, then this could further weaken the need for coercion.  

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7 0
2 years ago
A food worker develops a headache during her shift at work. What is she required to do ?
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The answer is C report the symptom to her manager
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The Walden Manufacturing Corp. has office support salaries of $4,000, factory supplies of $1,000, indirect labor of $6,000, dire
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Answer: <em>Total Period Cost = $20,500</em>

Explanation:

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<em> = $20,500</em>

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