Andrew owns 100% of the stock of Crow’s Farm Inc., an S corporation, that raises cattle and corn. The farm’s annual gross receipts have never exceeded $3 million and the farm is not considered a tax shelter.
a. The farm must report its sales and cost of goods sold by the accrual method because inventories are material to the business.
b. The income from the farm may be reported by the cash method.
c. The income from the sales of cattle may be reported by the cash method, but the income from the sales of corn must be reported by the accrual method.
d. The income from the sales of corn may be reported by the cash method, but the income from cattle sales must be reported by the accrual method.
e. None of the above.
Answers: 2
Business, 22.06.2019 16:10, safiyyahrahman6907
From what part of income should someone take savings?
Answers: 2
Business, 22.06.2019 20:20, martinezarielys17
As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage
Answers: 2
Business, 22.06.2019 23:00, infoneetusinghoyg22o
To increase sales, robert sends out a newsletter to his customers each month, letting them know about new products and ways in which to use them. in order to protect his customers' privacy, he uses this field when addressing his e-mail. attach bcc forward to
Answers: 2
Andrew owns 100% of the stock of Crow’s Farm Inc., an S corporation, that raises cattle and corn. Th...
History, 12.10.2020 14:01
History, 12.10.2020 14:01
Health, 12.10.2020 14:01
SAT, 12.10.2020 14:01
Mathematics, 12.10.2020 14:01