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What Accounting method (cash or accrual) would you recommend for the following businesses?a. A gift shop with average annual gross receipts of $900,000b. an accounting partnership with annual gross receipts of $12 million.c. A drywall subcontractor who works on residences and has annual gross receipts of $3 million.d. An incorporated insurance agency with annual gross receipts of $6 million.
Ross company is a computer consulting firm. the company also sells equipment to its clients. the sales of equipment account for approximately %40 of the company's gross receipts. the company has consistently used the cash method to report its income from services and the accrural method to report its income for the sale of inventory. In June of the current year, Ross's accountant discovered that as a small business, the company qualifies to use the cash method for all of its activities. The company is a calendar year taxpayer. As of the begininngin of the current year, the company had $120,000 of inventory on hand and $90,000 aof accounts receivable from the sales of equipment and $30,000 of receivables from the counseling services.a. Compute the adjustment due to the change in accounting method.b. Is the adjustment postive or negative? explain.c. when can the adjustment be taken into account in computing taxable income?
THE PETITION Petition by debtor : If the debtor presents his own petition, a receiving order is made at once without a court hearing and an adjudication order may also be ma
like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
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Refer to Figure, using the Mason's gain formula, determine the transfer function of the system.
WHAT IS THE MODERN ACCOUNTING TECHNIQUES.
Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las
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1. Calculate the profitability index for a project that has a net present value equal to -$10,000. The project's net investment is $20,000. 2. A project requires a net investmen
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