FACTS / DATA / GIVEN:Тахрауer:Taxable period:Expenses/payments during the period:Resident citizen2nd quarterDescription1st quarter expenses paid in 2nd quarter2nd quarter expenses paid in 2nd quarter3rd quarter expenses paid in 2nd quarter1st quarter expenses incurred but unpaid2nd quarter expenses incurred but unpaidAmountP15,00020,0005,0008,00011,000COMPUTE: Expenses in the 2nd quarter using ACCRUAL basisО А. 25,000B. 31,000C. 35,000O D. 36,000

Total Expense = Cash expense + expense Unpaid

Answered: FACTS / DATA / GIVEN: . Тахрауer:…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter13: Corporations: Earning & Profits And Distributions

Section: Chapter Questions

Problem 11P

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