User Account

All Pages

In which year does murphy recognize the income

Assignment Help Macroeconomics
Reference no: EM13314603

Murphy Company, a cash-basis, calendar-year taxpayer, received a call on December 28, year 1, from a client stating that a check for $9,000 as payment in full for their services could be picked up at their offices, two blocks away, any weekday afternoon between 1:00 and 6:00 P.M. Murphy does not pick up the check until January 3, year

2. In which year does Murphy recognize the income?

Reference no: EM13314603

Questions Cloud

If the taxpayer does not want to use the installment method : What is an installment sale? If a transaction qualifies for installment sale treatment, when will the taxpayer be taxed on the sale? What does a taxpayer do if the taxpayer does not want to use the installment method?
Calculate the conduction rate of heat : Calculate the conduction rate of heat H=deltaQ/deltaT through an A=2.0 m^2 glass window of the thickness of the glass is 4 mm and the temperature difference between the inside and the outside is 20 degree celsisus
What is the pressure at the bottom : An air bubble of 10 cm^3 is created at bottom of a lake, where the temperature is 5 degree celsius and is 100 m deep. what is the pressure at the bottom
What is the flow speed of the water : A large cylindrical water tank of diameter od D=3.00 m. What is the flow speed of the water when it comes out from the hole
In which year does murphy recognize the income : Murphy Company, a cash-basis, calendar-year taxpayer, received a call on December 28, year 1, from a client stating that a check for $9,000 as payment in full for their services could be picked up at their offices
Find the totall mechanical energy of the oscillator : A 400 g mass is attached to a spring of constant k=16.0 N/m and set into oscillation with amplitude A=25.0 cm, Find the totall mechanical energy E of the oscillator
What resistive force does the wood exert on the bullet : A rifle with a barrel length of 57cm fires a 12g bullet with a horizontal speed of 450m/s, What resistive force (assumed to be constant) does the wood exert on the bullet
Can jabba avoid recognizing income because it received : Jabba Company uses the cash method of accounting. Jabba received a computer from a customer as payment for a $2,000 bill. Can Jabba avoid recognizing income because it received payment in a noncash form? Explain.
Find the magnitude of the frictional force on the crate : A 40-N crate rests on a rough horizontal floor. A 12- N horizontal force is then applied to it. find the magnitude of the frictional force on the crate

Reviews

Write a Review

Macroeconomics Questions & Answers

  What is the probability that a person has blue eyes

What would you expect to be the value P(having the trait and blue eyes) if eye color and trait status were independent? C. Which of the following expressions describes the relation- ship between the events A = a person has brown eyes and B = ..

  Cartel behavior in coal industry

Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.

  Illustrate what are some polices the us government

Illustrate what are some polices the U.S. government could take to increase U.S. economic growth.

  Calculate level of fuel consumption per hour

A truck powered by a diesel engine working at a 100 percent load factor is operated at a mine. If fuel consumption for this truck is 0.3 l/kW

  To find the future value in investment

Find the future value one year from now of a $7,000 investment at a 3% annual compound interest rate.if the investment is made for 2 yeaars also calculate the future value.

  How did we getinto the mess describe what happened

AP. "The rise, and potential fall, of America's banks." MSNBC. Feb. 8,2009. (1) The governmenthas a plan to keep U.S. banks from collapsing. What do analysts expect theplan to include (2) How did we getinto this mess? Describe what happened

  Estimates that where the elasticity of demand can be

suppose that you are an intern for a state legislature that is considering how to vote on a bill that would legalize marijuana. An economist has testified that legalization would decrease the price of marijuana by 80% in his estimation.

  What could the magazine do in order to maximize profit

A news magazine offers students a discount on the regular subscription rate. The total number of subscriptions is optimal, and, at the current prices, the marginal revenue from the last subscription sold to a student is $6, while the marginal reve..

  Current tax treatment of capital gains

Discuss and explain the current tax treatment of capital gains under personal income tax. Describe why do some economists argue that reduction in rate of taxation and capital gains can actually raise tax revenue collected from such gains?

  Pay the debts of the government

These actions have caused violent protests. Should the U.S. follow their example? What would be the consequences of just printing more money to pay the debts of the government?

  How to maximize short-run profits

Mary's Fence Post Factory faces a perfectly elastic demand curve for fence posts at a price of $39 per post. Let Q represent the number of fence posts that Mary makes. Mary's total cost and marginal cost curves for making fence posts are: TC = 4,0..

  Suppose if the discount rate for the stock

Suppose if the discount rate for the stock is 12 percent, at what price will the stock sell.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd