MCGRAW-HILL'S TAX.OF INDIV.+BUS.2020
20th Edition
ISBN: 9781259969614
Author: SPILKER
Publisher: MCG
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Lyndon Advisory Group, a consulting firm, had accounts receivable of $22,000 on May 31. During June, payments from customers on account totaled $13,500. At the end of June, Lyndon had accounts receivable amounting to $25,000. What was the amount of consulting services provided to customers on credit during the month of June?
Grant Corporation owns 20% of the common stock of Tanner Industries and uses the fair-value method to account for this investment. Tanner reported net income of $175,000 for 2023 and paid dividends of $95,000 on October 15, 2023. How much income should Grant recognize on this investment in 2023? a. $35,000 b. $19,000 c. $54,000 d. $11,500 e. $70,000
What was the direct labor cost on the job?
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