Accruals: 1. On January 2, 2022, Electrotechnology sold 5 units of personal computers for $200 dollars each. 2. On January 5, 2022, Electrotechnology purchased 10 Units of motherboard for $100 dollars a piece. Deferrals: 1. On January 01, 2022, Electrotechnology paid $1,200 for 12 months rent starting January 2022 to December 2022. 2. On January 10, 2022, Electrotechnology received $200 from a customer who left his PC at the store for repair services.

Accruals: 1. On January 2, 2022, Electrotechnology sold 5 units of personal computers for $200 dollars each. 2. On January 5, 2022, Electrotechnology purchased 10 Units of motherboard for $100 dollars a piece. Deferrals: 1. On January 01, 2022, Electrotechnology paid $1,200 for 12 months rent starting January 2022 to December 2022. 2. On January 10, 2022, Electrotechnology received $200 from a customer who left his PC at the store for repair services.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

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