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Augustus1 Augustus1
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7 years ago
Xerxes Manufacturing, in its first year of operations, produces solar panels which are sold through large building supply and home improvement stores.  Xerxes year-end results include the following:

Office rent and utilities   $15,000
Salaries of office staff      100,000
Salaries of factory workers   500,000
Direct materials used in production of solar panels   400,000
Factory rent     30,000
Factory utilities     10,000

You are preparing Xerxes's first year tax return.  Xerxes's has elected a calendar year as its tax accounting period and the accrual method.  What additional information would you need to prepare the tax return?
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
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#2
7 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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