Falcon, inc., paid salaries of $500,000 to its employees during its first year of operations. at the end of the year, falcon had additional unpaid salaries of $45,000.
a. calculate the salary deduction if falcon is a cash basis taxpayer. $
b. calculate the salary deduction if falcon is an accrual basis taxpayer.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Falcon, inc., paid salaries of $500,000 to its employees during its first year of operations. at the end of the year, falcon had additional ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A firm has current assets that could be sold for their book value of $28 million. The book value of its fixed assets is $66 million, but they could be sold for $96 million today.
Answers (1)
Who makes decisions in a Capitalist (Market) system?
Answers (1)
Suppose a banking system has a required reserve ratio of 0.15. How much can the money supply increase in response to a $1 billion increase in excess reserves for the whole banking system?
Answers (1)
Food Flight offers unique food options that are flown in fresh from key cities. Customers can order smoked salmon from Alaska, shrimp creole from Louisiana, and Texas ribs from Dallas. What problem is Food Flight most likely addressing?
Answers (1)
Building brand equity can involve leveraging secondary associations which can be derived in a variety of ways. Linking the BMW car brand to reliable German engineering is an example of the what kind of secondary association?
Answers (1)
New Questions in Business
The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the: A. Cost Principle. B. Going-concern assumption.
Answers (1)
Problem 5-68 Perpetuities and Effective Interest Rate (LO3) What is the value of a perpetuity that pays $100 every 3 months forever? The interest rate quoted on an APR basis is 6%.
Answers (1)
When spreading fixed moh, the largest plus to using practical capacity is: question 10 options: a focuses management's attention on unused capacity b never causes over or under-allocated overhead c burdens the user divisions with the costs of unused
Answers (1)
Which statement best describes how governments respond to changes in the business cycle? Check all that apply governments make current see more available governments refuse to pass a budget governments change their policies governments reduce
Answers (2)
Corporate shareholders: A. are proportionately liable for the firm's debts. B. are protected from all losses. C. have the ability to change the corporation's bylaws. D.
Answers (1)