I.Receipts of service revenue colleted in advance are included in gross income in the current year to the extent they included in revenue for financial accounting purposes.
II.Receipts of rents and interest collected in advance are included in gross income in the current year to the extent they are included in revenue for financial accounting purposes.
()
A、Only statement I is correct
B、Only statement II is correct
C、Both statements are correct
D、Neither statement is correct.
第1题
Annie owns a mine, which cost her $460,000 several years ago.In prior years she had claimed depletion in the amount of $140,000.It is estimated that 800,000 tons of minerals remained in the mine at the beginning of the year.During the current year, Annie mined and sold 180,000 tons.What is the amount of Annie's cost depletion deduction for the current year?()
A、$56,000
B、$72,000
C、$80,500
D、$103,500
E、$180,000
请帮忙给出正确答案和分析,谢谢!
第2题
Walker, an employee of Lakeview Corporation, drives his automobile 18,000 business miles during 2018.He pays tolls of $145 while traveling on business.What amount can Walker deduct as unreimbursed transportation expenses?()
A、$0
B、$9,810 for AGI
C、$9,955 for AGI
D、$9,955 from AGI
请帮忙给出正确答案和分析,谢谢!
第3题
When securities are sold and the securities were purchased on different dates and at different prices
I.the basis of the shares may be determined on a first-in, first-out basis.
II.the basis of the shares may be determined on a last-in, first-out basis.()
A、Only statement I is correct
B、Only statement II is correct
C、Both statements are correct
D、Neither statement is correct
请帮忙给出正确答案和分析,谢谢!
第4题
Which of the following taxes paid by the Fowlers Company can be deducted during 2018?
I.State sales tax on utilities.
II.Federal income tax paid in 2018 when filing Fowlers' 2017 corporate tax return.
()
A、Only statement I is correct
B、Only statement II is correct
C、Both statements are correct
D、Neither statement is correct
请帮忙给出正确答案和分析,谢谢!
为了保护您的账号安全,请在“上学吧”公众号进行验证,点击“官网服务”-“账号验证”后输入验证码“”完成验证,验证成功后方可继续查看答案!