Per capita income

the easiest to work with. That method records revenues and expenses when they are incurred regardless of when cash is exchanged. With the accrual methods income and expenses are recorded as they occur regardless of whether or not cash has actually changed hands. Under the cash basis of accounting revenues are reported on the income statement when the cash is…

Luigi Vittatoe Dr. Donald Majors EAC2212 Accounting 2 February 23, 2016 Week 7 Discussion What dollar amount did Neosho receive upon the sale of the JMB stock? Explain why both stockholder Linton and President Cedeno are correct? Neosho received $1,468,000 upon the sale of the JMB stock. With 30% ownership the investment and earnings of JMB Company are recorded using the equity method. With an original investment of $1,300,000 plus the earnings since acquisition, 1,240,000 + 520,000 = 1,760,000…

In the business situation with Ahi Corporation, an employee of Ahi offers the suggestion of a using a “float” to earn interest on a payment due to Internal Revenue Service. In the past this practice of a free money was once encouraged by many, to help aid business, however in recent years is has been discouraged and it is not recommended. In 2003, Congress passed Check 21 (Check Clearing for the 21st Century Act), allowing banks to use scanned checks. The float days have decrease as well as…

“The problem is government spends too much. So raising taxes is what politicians do, instead of reducing spending”. As Grover Norquist inquired politicians want to kept their own money in their pockets while taking money from the people. The reason why citizens want to increase taxes is because they want to get rid of the nation's financial debt. Raising taxes on the rich has been a topic of debate for quite awhile now. People feel like they should tax the rich more than the middle class and…

1. Will Mame recognize a gain on her individual tax return for a portion of the insurance proceeds given that the fair market value of the property lost in the fire exceeds her adjusted basis in the property? Section 1033(a)(2)(a) states that property that is destroyed and involuntarily converted into money would recognize a gain equal to the amount of proceeds realized minus the taxpayer’s adjusted basis in the property. However, the taxpayer can make an election to defer either some or all of…

and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration” (U.S. Constitution…

The chart of accounts is a highly detailed list of various account types an organization manages. A nonprofit's chart of accounts gives the organization a uniformed manner in which to track assets, liabilities, equity, revenue, and expenses ("chart of accounts definition", n.d.). The benefit of a chart of accounts is that it can be tailored to properly reflect the needs and operations of each organization. These documents are not only used by those within the organization, they also provide…

comprehensive budget are operating budget and capital budget. Within the operating budget are the recurring expense and income items such as rent payments and paycheck. The capital budget includes items that are…

MEMORANDUM To: Jessica Newman, Account Manager From: Sarah Bennett, IMA Ethics Counselor Date: February 4, 2017 Subject: Lean Production Can Solve Ethical Dilemma and Cash Shortages This memo is in response to your concerns regarding Software Technology Associates of Raleigh’s financial situation. The purpose of this memo is to address the ethical dilemma as well as the issue of cash flow of Software Technology Associates of Raleigh presented by you, Jessica Newman. In this memo, I will…

If you have been injured on the job or a family member died in a work-related injury, you might have been told there are specific deadlines for when information must be reported to ensure the person gets the full benefits of workers' compensation. As Pueblo Workers' Comp Lawyers, we want to make sure you do not miss any important dates and that you can therefore get the full benefits you deserve. An employer should immediately report any accident which results in a fatality. If your family…