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How much of this expenditure can warren deduct

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Question - Warren Company is a calendar year, cash basis firm. On December 6, 2021, Warren paid $7,200 cash to a landscape service business that maintains the lawns and gardens around Warren's headquarters.

Required -

a. How much of this expenditure can Warren deduct in 2021 assuming that the expenditure is a prepayment for four months of landscape maintenance beginning May 1, 2022?

b. How much of this expenditure can Warren deduct in 2021 assuming that the expenditure is a prepayment for 12 months of landscape maintenance beginning May 1, 2022?

Reference no: EM133168905

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