User Account

All Pages

Subject to approval by the insurance company adjuster

Assignment Help Macroeconomics
Reference no: EM13314664

In December, year 1 Sid's Body Shop (an accrual-basis taxpayer) did repair work on Lisa's car and was to be paid $2,000 by her insurance company. Lisa was not satisfied with the repair job but finally agreed that her insurance company should pay $1,700 for the repair work, subject to approval by the insurance company adjuster. In March, year 2, the insurance company paid $1,700 to Sid's Body Shop.

Reference no: EM13314664

Questions Cloud

What do you recommend that she do would your answer change : Sandra, a single taxpayer in the 35 percent marginal tax bracket, has $60,000 she can invest in either corporate bonds with a stated interest rate of 9 percent or general revenue bonds issued by her municipality
Which method should he choose and why : Robert plans to start a new business that he expects will experience steady growth in profits for the next 15 years. He needs to select a method of accounting to use: cash or accrual.
Adjusted gross income by entering the following information : Compute Pierre Lappin’s adjusted gross income by entering the following information on Form 1040: $50,000 salary, $5,000 qualified dividend income, $3,000 interest income from corporate bonds
How much of the social security benefits must be include : Determine how much of the Social Security benefits must be include in income for a single individual who had $20,000 in dividend income and $5,000 in interest from tax-exempt bonds in addition to receiving $10,000 in Social Security benefits.
Subject to approval by the insurance company adjuster : In December, year 1 Sid's Body Shop (an accrual-basis taxpayer) did repair work on Lisa's car and was to be paid $2,000 by her insurance company.
Refundable security deposit equal to one month rent : A landlord requires tenants to pay at the beginning of their lease an amount equal to 3 months of rent. He informs the tenants that this is for the first month's rent, the last month's rent, and a refundable security deposit equal to one month's rent..
Jason owns a computer repair shop. jason needs some repair : Jason owns a computer repair shop. Jason needs some repair work done on his company car, so he agrees to repair the computer at Bob's Auto Repairs in exchange for fixing the car.
Judge hearing this case how would you rule : Walter used the cash method to account for income from his cattle ranch. During an audit in year 3, the IRS auditor discovered a document from a customer indicating that Walter sold 115 head of cattle to the customer two years earlier for $77,000.
Explain all the tax consequences of these events for both : Joe owes Willy $5,000 from an old gambling debt. Joe knows that there is no way he can repay the debt in the near future. He asks Joe if he will take a $25,000 life insurance policy that has a cash surrender value

Reviews

Write a Review

Macroeconomics Questions & Answers

  Is guatemala debt makes if the government runs

Is Guatemala debt makes if the government runs a balanced budget in both a and b.

  Relationship between long and short term bond prices

The prices of outstanding bonds change whenever the going rate of interest changes. In general, short term interest rages are more volatile than long term interest rates.

  Cutthroat competition, oligopoly and collective bargaining

Describe the cutthroat competitors reasons for not raising or lowering his price, thereby accounting for the kink in his demand curve.

  Effect of imposition of fixed fee on firms

What takes palce to output, the optimal scale of a firm, and price if there is a free entry into the market.

  Why was the termination in violation of public policy

Lynn was terminated by Wal-Mart for violating it fraternization policy by having an affair with a co-worker. Lynn sued Wal-Mart for retaliatory discharge, claiming that he was actually fired because he reported Wal-Mart's

  Fed advances and discounts on monetary base

Suppose, in a given week, float raises $900 million, Treasury deposits at the Fed rise $1500 million, discounts and advances decline $200 million, and foreign deposits at the Fed increase $150 million.

  Computing profit-maximizing quantity and price

A monopolist has a constant marginal and aver­age cost of $10 and faces a demand curve of Q D  = 1000 - 10P. Compute the monopolist's profit-maximizing quantity, price, and profit.

  Illustrate cantina''s demand and marginal revenue curve

Find the Cantina's marginal revenue function and in the same diagram, illustrate the Cantina's demand curve and marginal revenue curve.

  Reinvestment rate assumption in irr

When 2-mutually exclusive projects are considered, NPV calculations and IRR calculations may, under certain circumstances, give conflicting recommendations as to which project to accept.

  Determine the price and quantity at the kink of demand curve

The kinked demand curve in an oligopolistic market is defined by the equations: P = 140 - 0.5Q, and P = 200 - 2Q. a) Derive equations for the marginal revenue curves. b) Determine the price and quantity at the "kink" of the demand curve.

  Which will cause additional 20percent rise in num apartments

How much percent can we expect the price of rental apartments to rise after the law is enforced, if we know that we expect an additional rise in demand for rental apartments which will cause an additional 20 percent rise in the number of apartment..

  Now assume the government increases spending reducing

Now assume the government increases spending, reducing the country's savings rate based upon this change. What is the effect on the government spending on the economy.

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