Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Tommy, a senior at State College, receives free room and board as full compensation for working as a resident advisor at the university dormitory. The regular housing contract is $1,800 a year in total, $1,000 for lodging and $800 for meals in the dormitory. Tommy had the option of receiving the meals or $800 in cash. Tommy accepted the meals. What is Tommy's gross income from working as a resident advisor?
a. $0, the entire value of the contract is excluded from gross income.
b. $800, only the meal contract must be included in gross income.
c. $1,000, only the lodging contract must be included in gross income.
d. $1,800, the entire value of the contract is compensation.
e. None of the above.
On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannualy were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:
What are some examples of direct and indirect inventoriable costs for Dell? Why has Dell's gross margin (in dollars) steadily increased from 2003 to 2005, yet the gross margin as a percent of net revenue has only increased slightly?
What is amortization loan? Can you give us an amortization loan example, for example, car loan or mortgage loan, and so on?
What gain or income do Sara and Jane recognize on the exchanges? What is Wren corporation's basis in the property transferred by Sara and Jane? How does wren treat the value of the services Jane renders?
How do companies balance the need to maintain control over their payroll systems with the costs to implement controls to mitigate risks?
Journal entries and trial balance On October 1, 2012, Faith Schultz established Heavenly Realty, which completed the following transactions during the month
A performance report for direct labor shows a variance between the budget and actual amounts. This difference is a:
How do you know if the company you are investing in has ethical executives? And how do you know that those executives will continue to act in an ethical manner when "times get tough"?
It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the produ..
assess the short- and long-term impact the disaster had to the business and stakeholders. Provide specific examples to support your response.
Quail issued $200,000 of its 10-year 12% bonds for $224,924 on October 1, 2010. The effective rate on the bonds was 10% and interest is paid each October 1 and April 1. Assuming Quail uses the effective interest method, the adjusting entry on Dece..
What is the amount of the sales support costs that should be allocated to Customer A assuming Beta uses units purchased to compute activity-based costs?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd