Question
Falcon, Inc., paid salaries of $500,000 to its employees during its first year of operations. At the end of the year, Falcon had additional unpaid
Falcon, Inc., paid salaries of $500,000 to its employees during its first year of operations. At the end of the year, Falcon had additional unpaid salaries of $45,000.
a.Calculate the salary deduction if Falcon is a cash basis taxpayer.
$
b.Calculate the salary deduction if Falcon is an accrual basis taxpayer.
$
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Payroll Accounting 2017
Authors: Jeanette Landin, Paulette Schirmer
3rd edition
1259572188, 1259572180, 1259742512, 9781259742514, 978-1259572180
