This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A government levies property taxes and awards discounts for timely payment. How should the ... (Read 40 times)

magmichele12

  • Hero Member
  • *****
  • Posts: 559
on: Jul 6, 2018
A government levies property taxes and awards discounts for timely payment. How should the government report discounts that it expects will be taken?
 
  A. Report as expenditures in the year the taxes are levied.
  B. Report as expenditures in the year the discounts are awarded for early payments received.
  C. Report as other financing uses.
  D. Deduct from the amount of taxes levied to determine property tax revenues.

Question 2

On an income statement, net sales minus cost of goods sold equals
 a. delivered cost of purchases.
  b. cost of goods available for sale.
  c. net income.
  d. gross profit.
  e. beginning inventory.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

D


magmichele12

  • Hero Member
  • *****
  • Posts: 559
Reply #2 on: Jul 6, 2018
Thank you


jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: Jul 6, 2018
No problemo


« previous next »
 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
The world attempted to deal with Somalia as if it were a real country but painfully learned that Som The world attempted to deal with Somalia as if it were a real country but painfully learned that Som
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ... A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ...
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ... A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ...
Video: Interview with Person who has Schizophrenia

For a complete list of videos, visit our video library