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Author Question: Gabe Corporation, an accrual-basis taxpayer that uses the calendar year as its tax year, sells CPE ... (Read 76 times)

james

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on: Sep 13, 2020
Gabe Corporation, an accrual-basis taxpayer that uses the calendar year as its tax year, sells CPE (continuing professional education) courses under contracts ranging from three months to two years. Assume that Gabe Corporation sold three contracts on July 1, 2016; one for six months costing $300; one for one year costing $500; and one for two years costing $800.

Required: What is the minimum amount of income that must be recognized in 2016 and 2017?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by james on Sep 13, 2020

Leostella20

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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james

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

zacnyjessica

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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