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More info - nt(s) possible point(s) possibl Sutherby corporatio i (Click Read the Requiren 1. Suther from the no payme What rul Amount 2.
More info - nt(s) possible point(s) possibl Sutherby corporatio i (Click Read the Requiren 1. Suther from the no payme What rul Amount 2. Suther it expects What rul 1. Sutherby Corporation hired a contractor to remodel its sales floor. The contractor completed the remodeling on November 30. On December 15, Sutherby received a $50,000 bill from the contractor. Sutherby immediately contacted the contractor to contest $6,000 of the total charges, arguing that it exceeded the price that was agreed upon. Sutherby made no payment on the bill during its current tax year. 2. Sutherby offers a 2-year warranty on all of its computer systems. For sales of computers in the current year, it paid $9,000 to service warranties during the current tax year, and it expects to pay $11,000 to fulfill the remaining warranty obligations next year. 3. Every year, Sutherby offers a series of nine trade seminars from November 1 through July 31. It receives all registration fees from participants by October 1, before the seminars begin. As of December 31, two of the nine seminars are completed, and the next seminar is scheduled for January 14-15. The expenses incurred in performing the seminars are routine each year. On the first of each month from November through July, Sutherby pays the $600 monthly rent for the seminar location. On September 16, Sutherby signs a contract with the seminar teacher, a computers expert and excellent public speaker. The contract requires Sutherby to pay the teacher $1,600 after each seminar, a total of $14,400. On October 3, Sutherby signs a contract with a local printing company, which will provide text materials for the seminars. Sutherby pays the printer $250 after each seminar's materials are delivered the day before the seminar. calendar year. Th ense can be dedu 0. On December eded the price tha o service warrant Amount 3. Every Print Done s from participant
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