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Guay Corp a start up company provided services that were acceptable to its customers and billed those customers for $350,000 in 2012. However, Guay collected only $280,000 cash in 2012 and the remaining $70,000 of 2012 revenues were collected in 2013. Guay employees earned $200,000 in 2012 wages that we'd not paid until the first week of 2013. How much net income does Guay report for 2012?for 2013 (assuming no new transactions)?
its a Canadian tax assignment
Carol is a successful physician who owns 100% of her incorporated medical practice. She and her husband, Jared, are considering the purchase of a commercial office building located
Individual Retirement Account (IRA) - An IRA is a personal savings plan which allows an individual to make cash contributions per year dependent on individual's adjusted gross inco
Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: • salary of $300,000; • Payment of Alan''s mobile phone bill ($220 per mont
Background: Thomas and his wife Diana have operated their own children''s daycare for the last three years. They also own the daycare facility, a building and the adjacent land lo
Define VAT? what is excise? VAT refers for value added tax, that is termed as charged on profit earned by firm, for example example: let suppose a business man sells a product of U
I got confused with the numbers on these parts: 1. "The $3,600 of property taxes for the house in Orlando were prorated with $1,950 being apportioned to the seller and $1,650 being
It is a tax based on the assessed value of personal property or real estate. Ad valorem taxes can be property taxes or even duty that is levied on imported items. Property ad valor
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%
John Alan Kelly and Rosalyn Elaine Kelly, a married couple, live at 3822 Robin Lane Houston, Texas 77049-7236. Their home telephone number is (713) 468-9721, home fax number is (7
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