Alabama construction, Alabama Construction

Alabama construction

Assignment Help Accounting Basics

Reference no: EM13488194

1. Alabama Construction, Inc., an accrual basis taxpayer, billed a client in December 2014 $12,000 for services performed. In March 2015, the corporation received a check from the client for $10,000. Included with the check was a letter stating that some of the services were not performed correctly. After investigating the matter, Alabama Construction agreed that the customer was correct. Alabama Construction must include $12,000 in its 2014 income, but will take a deduction of $2,000 in 2015.

Reference no: EM13488194

Questions Cloud

Costs and expenses : Question Fredonia Inc. had a bad year in 2013. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 80,000 units of product: Net sales $2,000,000; total costs and exp..

Determine the magnitude of the magnetic force on the proton : A proton travels with a speed of 4.90 106 m/s at an angle of 57° with the direction of a magnetic field of magnitude 0.160 T in the positive x-direction. determine the magnitude of the magnetic force on the proton

Which one of following inventory methods impractical to use : If the income tax rate is 30% and the amount of income taxes paid would be $225 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?

Explain 2-methyl-1-hexene is treated with a dialkylborane : What are the products expected to be formed in good yeild in the reaction 2-methyl-1-hexene is treated with a dialkylborane prepared from borane and an optically active sample of alpha-pinene, and then wit basic hydrogen peroxide.

Alabama construction : Alabama Construction

What is the depth of the oil layer : A large tub is filled to a depth of 50.0 cm with fresh water. Then oil of density 750.0 kg/m3 is poured onto the water. What is the depth of the oil layer

Determine the cars rotational energy : A car with a total mass of 1.93 103 kg has wheels of radius 35.0 cm and moment of inertia 0.715 kg · m2. Find the car's rotational energy when the car is moving at a speed of 30.0 m/s

H&r block tax preparation software comes bundled : H&R Block tax preparation software comes bundled with the CSUF edition of the textbook. You may also use other software, such as TurboTax.

Evaluate moles of permanganate required : Calculate moles of permanganate required. b. Show a balanced redox equation i. oxidation ii. reduction iii. overall c. How many moles of lead are present

User Account

All Pages