LSG Company is a calendar year, cash basis taxpayer. On November 1, 2017, LSG paid $9,450 cash
Question:
a. The expenditure is a prepayment for six months of cleaning services from November 2017 through April 2018?
b. The expenditure is a prepayment for 18 months of cleaning services from November 2017 through April 2019?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (5 reviews)
a LSG can deduct the entire 9450 expenditure in 2017 the year of payment because the expen...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Principles Of Taxation For Business And Investment Planning 2018
ISBN: 9781259713729
21st Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
Question Posted:
Students also viewed these Taxation questions
-
Daisy is a calendar year cash basis taxpayer. She owns a 50% profit and loss interest in a cash basis partnership with a September 30 yearend. The partnerships operating income (after deducting...
-
Company B is a calendar year end private energy company. A bank (debt) covenant requires Company B to provide audited financial statements in accordance with US GAAP. Auditor A is performing audit...
-
A U.S. citizen is a calendar year taxpayer who was a bona fide resident of and whose tax home was located in foreign country G for the entire taxable year 2019. B receives an $85,000 salary from Bs...
-
Suppose that we are at time 0 and the interest rate is 10% (d) What is the PV of an asset that pays 20 installments of $5 a year starting today?
-
In Figure a two identical rectangular rods of metal are welded end to end, with temperature of T1 = 0oC on the left side and a temperature of T2 = 100oC on the right side. In 2.0 min, 10J is...
-
If combustion takes place inside the boiling water region, the boiler is known as: (a) Natural circulation boiler (b) Forced circulation boiler (c) Internally fired boiler (d) Externally fired boiler
-
The following sample data were collected to determine the relationship between processing variables and the current gain of a transistor in the integrated circuit: Fit a regression plane and use its...
-
The Marietta Corporation, a large manufacturer of mufflers, tailpipes, and shock absorbers, is currently carrying out its financial planning for next year. In about two weeks, at the next meeting of...
-
Find resources that confirm the importance of budgeting to organizations and answer the question below. Using your work experience think about how budgets can influence the choices made by top...
-
The CAD/USD exchange rate at the beginning of the year 2015 is 1.9235. The interest rates in the year 2015 were 4.08% for Canada and 2.34% for US. Calculate the CAD/USD PPP exchange rate at the...
-
Malo Inc. uses a fiscal year ending June 30. On May 29, Malo received a check for $3,900 from a business that leases parking spaces in Malo's parking garage. This payment was for the three-month...
-
Warren Company is a calendar year, cash basis firm. On December 6, 2017, Warren paid $7,200 cash to a landscape service business that maintains the lawns and gardens around Warren's headquarters. How...
-
A sample of liquid water at atmospheric pressure has a temperature just above the freezing point. Refer to Figure 17-37 to answer the following questions. Figure 17-37,
-
A tiny particle with mass 5gr and charge -1mC enters in a rectangular uniform magnetic field region with a speed of 6cm/s and leaves with the same speed as shown in the figure. The region has...
-
Acceleration due to gravity on the planet Mars is 38% as strong as the pull of gravity on Earth's surface. 1) What is the numerical value of the acceleration on Mars? (3 Marks) 2) If an astronaut on...
-
The speed of electron is measured to with in an uncertainty of 2 104| ms in one dimension. What is the minimum width required by the electron to be confined in an atom?
-
Forces F and fs act on a block as shown in the figure below and the block slides to the right in the horizontal plane. Force F makes an angle of 0 = 60 with the horizontal and its magnitude is 10 N....
-
A spherical steel ball bearing has a diameter of 2.540 cm at 26.00C. (Assume the coefficient of linear expansion for steel is 11 x 106 (C).) (a) What is its diameter when its temperature is raised to...
-
Vickie Plato, accounting clerk in the personnel office of Streisand Corp., has begun to compute pension expense for 2022 but is not sure whether or not she should include the amortization of...
-
At Glass Company, materials are added at the beginning of the process and conversion costs are added uniformly. Work in process, beginning: Number of units Transferred - in costs Direct materials...
-
Mr. Pauper and Mrs. Queen are the equal shareholders in Corporation PQ. Both shareholders have a 37 percent marginal tax rate. PQs financial records show the following. Gross income from sales of...
-
American Corporation has two equal shareholders, Mr. Freedom and Brave Inc. In addition to their investments in American stock, both shareholders have made substantial loans to American. During the...
-
Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporations financial records show the following. Gross income from sales of goods...
-
Create a class named Account that contains: A private int data field named id for the account (default 0). A private double data field named balance for the account (default 0). A private double data...
-
The next Java code needs to be converted from static to dynamic (just addd changes in same code): import java.util.Scanner; class MyIntStaticCircularQueue { int capacity = 2; int queue[] = new...
-
Hi! Would a tutor be able to assist me on this? In a complete graph with 48 vertices, how many vertices will be in each node's adjacency list? How many entries will be in the adjacency matrix for...
Study smarter with the SolutionInn App