Although Wendy mailed the check on December 30, the funds were not made readily available to Larry until January 2. For this reason, Larry will not include the rental amount in his gross income until the next year. The payment was due to Larry on December 31, but he had no way of knowing when the money was readily available or mailed by Wendy, therefore, he cannot include that amount until he receives the check. Alternative B FACTS Both Larry and Wendy are calendar-year, cash method taxpayers. The lease requires an annual rental of $2,000, due in arrears on December 31.
8. award: 1 out of 1.00 point How many units are in ending work in process inventory in the first processing department at the end of the month? 500 6,800 900 300 Units in ending
Under the constructive receipt doctrine, Reg.1.451-2, the payment is considered income for the current year because the earnings were under the restriction of a successful verdict for your client, and so the payment could not be considered as earned any earlier. Since the company operates as an LLC, all income passes through the owner as ordinary income, after business exclusions and deductions, IRC Code Sec.752. And so, the earnings from will be subject to self-employment tax, FICA, and Medicare tax. 1B. How is the $25,000 treated for purposes of federal tax income?
Name:_______________ Part I Open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in business has ended. In the last days of December 2005, they already received contributed capital of € 6,000 and they obtained a five-year bank loan of € 24,000 at an annual rate of interest of 10 percent. Interest has to be paid each year on October 31. On December 31, 2005 various store equipment was purchased at a total cost of € 12,000, paid in cash. It is expected that the equipment has to be replaced after five years.
Note that accrual-basis taxpayers are limited in their ability to use the installment sale method with respect to routine business transactions. ________________________________________ 9. Joe, a plumber, received a $4,000 payment for services performed in November 2010. The customer complained about the quality of the work, and in December, filed a claim with a local court for refund. In February 2011, the case is settled, and Joe refunds $2,500 to the customer.
Being that he didn’t have to help anyone this was a generous deed. It shows that he compassionate to those who want to do the right thing but need a helping
The first example is “save your people” and “be their shepherd” both show the want for His salvation. Secondly, “bless your heritage” in line one carries the same theme as “carry them forever”. Those excerpts both stress the importance of sticking to your roots. The psalmist wants for Israel to be guided from Her shepherd forever. In conclusion, the message that Psalm 28 has to offer is that the people of God can pray for aid in times of need to their Lord.
As we can see, Equiano became free with the help of self-reliance which is indispensable for those who also want to become free not only physically but also mentally and spiritually. You need this skill because there are occasions in life where you are alone; no one stands behind you and makes the choice instead of you. Christianity is also an important factor in Equiano’s life. As Martin writes in the critical reading ‘God helps those who help themselves’ (Martin, 257). Belief is a clambering for everyone just like for Equiano.
Situation: You are the General Sales Manager for Bentley Business Systems (1287 Main Street, Wolf Point, MT 58904), a supplier of automation equipment in the Northwest United States. In today’s mail, you receive the following request letter from Jean Parchman, Assistant General Manager, Acres of Bargains, 508 Woodbine Avenue, Filmore, SD 57503. December 9, 2002 Dear Sales Manager: I received our monthly bill from Bentley and noticed a $400 service charge for services rendered on October 1 due to a printer malfunction. Since we have a service contract with Bentley, yet we are not apparently covered by it, I would like to request a cancellation of our service contract. Also, please deduct the $400 service charge from moneys we have paid thus far on the contract.
My third strength I put in this section is being grateful. I think me being grateful is a strength because not a lot of people are grateful and appreciative of what they have and receive in life. I always try to remember that I am lucky, because there’s always something that I can be thankful