Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 3, Problem 10P
Go to the U.S. General Services Administration (GSA) website. For the month of September 30,2019 , what is the per diem rate for each of the following towns:
- Flagstaff,
- Palm Springs, CA
- Denver,
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Go to the U.S. General Services Administration (GSA) website (www.gsa.gov). For the fiscal year, be sure to select "2022". For the month of September 30, 2022, what is the per diem rate for each of the following towns?
Note: The per diem tables become effective on October 1 of each year and remain in effect through September 30 of the following year.
a. Flagstaff, AZ:
b. Palm Springs, CA:
c. Denver, CO:
The Des Moines Gazette received newspaper subscriptions in December 2020 for 2021 from customers, who paid $500 in advance. What would be the appropriate journal entry for this event in December 2020?
Wiam water supply services orders a water pump and expects the delivery in 30 days. The order was placed in 1st January, 2019 with an estimated cost of RO 8000. The water pump was delivered on time by the supplier on 30th January, 2019 with a voucher of RO 8,100. The voucher was approved on 6th February 2019 and the payment was settled on 7th February, 2019.
Based on the above case, answer the following six questions (Questions 45-50)
Question 45
Question text
In the above case the disbursement is recorded on:
a.
1st July, 2019
b.
30th January, 2019
c.
7th February, 2019
d.
6th February, 2019
Question 46
Question text
Suppose the order made on 1st January is cancelled later on 10th January, which among the following will be the correct accounting treatment?
a.
A fresh encumbrance is made again on 10th January
b.
There will be no effect on the encumbrance control account
c.
The encumbrance made earlier is reversed.
d.
The available fund balance…
Chapter 3 Solutions
Income Tax Fundamentals 2020
Ch. 3 - Prob. 1MCQCh. 3 - Prob. 2MCQCh. 3 - Prob. 3MCQCh. 3 - Which of the following formulas represents the...Ch. 3 - Prob. 5MCQCh. 3 - Prob. 6MCQCh. 3 - Heather drives her minivan 953 miles for business...Ch. 3 - Prob. 8MCQCh. 3 - Prob. 9MCQCh. 3 - Under the high-low method, the federal per diem...
Ch. 3 - Prob. 11MCQCh. 3 - Prob. 12MCQCh. 3 - Prob. 13MCQCh. 3 - Prob. 14MCQCh. 3 - Prob. 15MCQCh. 3 - Prob. 16MCQCh. 3 - Prob. 17MCQCh. 3 - Prob. 18MCQCh. 3 - Prob. 19MCQCh. 3 - Prob. 20MCQCh. 3 - Prob. 21MCQCh. 3 - Prob. 22MCQCh. 3 - Prob. 23MCQCh. 3 - Stewie, a single taxpayer, operates an activity as...Ch. 3 - Prob. 2PCh. 3 - Lawrence owns a small candy store that sells one...Ch. 3 - Business with gross receipts of $25 million or...Ch. 3 - Teresa is a civil engineer who uses her automobile...Ch. 3 - Prob. 7PCh. 3 - Martha is a self-employed tax accountant who...Ch. 3 - Prob. 9PCh. 3 - Go to the U.S. General Services Administration...Ch. 3 - Prob. 11PCh. 3 - Prob. 12PCh. 3 - Marty is a sales consultant. Marty incurs the...Ch. 3 - Prob. 14PCh. 3 - Prob. 15PCh. 3 - Cooper and Brandy are married and file a joint...Ch. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Cindy operates a computerized engineering drawing...Ch. 3 - Prob. 22PCh. 3 - Prob. 23PCh. 3 - Prob. 24PCh. 3 - Lew is a practicing CPA who decides to raise...
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