In 2020, Godfrey received a $50,000 sales commission on a long-term contract. But in 2021, the customer filed for bankruptcy and his employer was not able to collect from the customer. Under the bonus agreement, Godfrey was required to repay the employer $20,000 of the bonus. Godfrey was in the 35% marginal tax bracket in 2020 but he is in the 24% marginal tax bracket in 2021. a. Godfrey should not have reported the income in 2020 because of the contingencies.
b. Godfrey can amend his 2020 tax return and reduce his taxable income by $20,000.
c. Godfrey can reduce his 2021 tax liability by 35% × $20,000 = $7,000.
d. Godfrey should deduct the $20,000 paid in 2021 and thus his tax savings will be $4,800.

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Acar manufacturer uses new machines that automatically assemble an engine from parts fed to the system. the machine can regulate the speed ofassembly depending on the number of parts produced. which type of technology does this machine use? angenoem mense wat ons in matin en esta va ser elthe machine uses

Kendrick is leaving his current position at a company, and charlize is taking over. kendrick set up his powerpoint for easy access for himself. charlize needs to work in the program that is easy for her to use. charlize should reset advanced options