Indicate the amount of the reserve, Taxation

During February, 2010, Jacob's Jewels sells a broach for $428,000. The cost to the business of this necklace as $212,000, resulting in a gross profit of $216,000. The $428,000 sales price is to be paid in four equal annual installments on December 31 in each of the years 2011 through 2014 .Jacob's Jewels has a December 31 year end. Indicate the amount of the reserve that can be deducted, and the net business income, for each of the years 2010 through 2014.

Posted Date: 3/16/2013 6:43:14 AM | Location : United States







Related Discussions:- Indicate the amount of the reserve, Assignment Help, Ask Question on Indicate the amount of the reserve, Get Answer, Expert's Help, Indicate the amount of the reserve Discussions

Write discussion on Indicate the amount of the reserve
Your posts are moderated
Related Questions
In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the organization

how are trusts considered a tax minimisation vehicle?

Clem paid self-employment tax of $14,200 and Wanda had $3,000 of Social Security taxes withheld from her pay. Determine deductible amount for AGI

Sales tax, as compared to VAT is the percentage of revenue imposed on the retail sale of goods. Unlike VAT, sales tax is levied on the entire value of goods and services purchased.

i want some problems with solutions on karnataka value added tax 2003

Taxable income Tax on this income $0 - $37,000 29c for each $1 $37,001 - $80,000 $10,730 plus 30c for each $1 over

I am zainab ali, i want help in Tax assignment..   In 2012 Joe, age 15, earned $2900 from acting and had $12,200 of interest income and $14,000 of taxable qualified dividend


Kline Company, an accrual basis calendar year corporation, reported $560,000 net income before tax on its financial statements prepared in accordance with GAAP for 2011. Kline's re

The Madison Restaurant was formed a S corporation at the end of last year. Bob Buron, owns 60% of the stock, manages the restaurant. Ray Huges owns the remaining 40% of the stock