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Author Question: CT Computer Corporation, an accrual-basis taxpayer, sells service contracts on the computers it ... (Read 285 times)

Evvie72

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Question 1

CT Computer Corporation, a cash-basis taxpayer, sells service contracts on the computers it sells. At the beginning of January of this year, CT Corporation sold contracts with service to begin immediately:



The amount of income CT Corporation must report for this year is
◦ $200.
◦ $1,000.
◦ $1,680.
◦ $5,000.

Question 2

CT Computer Corporation, an accrual-basis taxpayer, sells service contracts on the computers it sells. At the beginning of January of this year, CT Corporation sold contracts with service to begin immediately:



The amount of income CT Corporation must report for this year is
◦ $200.
◦ $1,000.
◦ $1,680.
◦ $5,000.


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Marked as best answer by Evvie72 on Sep 13, 2020

tashiedavis420

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Evvie72

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it


ultraflyy23

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Reply 3 on: Yesterday
:D TYSM

 

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