Top Posters
Since Sunday
L
4
d
4
3
k
3
k
3
j
3
k
3
b
3
f
3
b
3
d
3
h
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
Augustus1 Augustus1
wrote...
Go to Answer
Posts: 1894
Rep: 1 0
7 years ago
The Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the month, by the year, or two years in advance. In December 2009, the company collected the following amounts applicable to future services:

Jan 2010 services (monthly contracts)   $10,000
Jan - Dec 2010 services (annual contracts)   50,000
Jan 2010 - December 2011 contracts (2-year contracts)   68,000

If Cable TV wants to report as little income as possible for 2009, what is the amount of gross income that must be reported for 2009?
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
Read 129 times
2 Replies
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
Replies
Answer verified by a subject expert
MsLippyMsLippy
wrote...
#1
Top Poster
Posts: 1848
Rep: 64 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Augustus1 Author
wrote...
#2
7 years ago
You're a saint, honestly

Thank you
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  847 People Browsing
 113 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 259
  
 225
  
 958
Your Opinion
Where do you get your textbooks?
Votes: 447
Previous poll results: What's your favorite coffee beverage?