Carl’s business insurance costs $3,000 per year. Carl paid for and purchased a 12-month insurance policy on October 1, Year 1. On October 1, Year 2, Carl’s insurance increased to $3,300 per year. A building contract Carl was working on was delayed when they had to obtain additional permitting. Because cash flow was tight, Carl delayed renewing the insurance policy. Instead of making the payment due on October 1, Year 2, Carl paid 3 months of insurance in arrears on January 1, Year 3. Carl is a cash-method taxpayer and took advantage of the 12-month rule in Year 1 for prepayments. What is Carl’s insurance expense deduction for Year 2?
Answers: 3
Business, 22.06.2019 10:50
Jen left a job paying $75,000 per year to start her own florist shop in a building she owns. the market value of the building is $120,000. she pays $35,000 per year for flowers and other supplies, and has a bank account that pays 5 percent interest. what is the economic cost of jen's business?
Answers: 3
Business, 22.06.2019 20:20
John has served as the chief operating officer (coo) for business graphics, inc., a publicly owned firm, the past 5 years. which of the following statements about john is correct? both john and the ceo of business graphics must certify to the sec that the firm's financial statements are accurate. as the coo, john will be ranked higher than the ceo but still below the cfo. in john's postition as the coo, it is highly unlikely that he would also be the chairperson of the board of directors. as the coo, john would typically be involved with accounting, finance, and asset purchase decisions.
Answers: 2
Business, 23.06.2019 15:00
Organizations focus on facilities and systems during the stage in a work-unit activity analysis.
Answers: 1
Business, 23.06.2019 21:40
If modern company received $3,650 from connor young company on march 12 for the total amount of an account that had been written off on march 1, the entry to reinstate the account under the direct write-off method would include
Answers: 1
Carl’s business insurance costs $3,000 per year. Carl paid for and purchased a 12-month insurance po...
Mathematics, 04.05.2021 18:10
English, 04.05.2021 18:10
Geography, 04.05.2021 18:10
Mathematics, 04.05.2021 18:10
History, 04.05.2021 18:10
Mathematics, 04.05.2021 18:10
Mathematics, 04.05.2021 18:10
Biology, 04.05.2021 18:10
Mathematics, 04.05.2021 18:10
Mathematics, 04.05.2021 18:10