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Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of year 0. Indicate the amount of
Rebecca is a calendar-year taxpayer who operates a business. She made the following business-related expenditures in December of year 0. Indicate the amount of these payments that she may deduct in year 0 under both the cash method of accounting and the accrual method of accounting. (Leave no answers blank. Enter zero if applicable.) a. $4,900 for an accountant to evaluate the accounting system of Rebecca's business. The accountant spent three weeks in January of year 1 working on the evaluation. Deductible Amount Cash method Accrual method b. $2,400 for new office furniture. The furniture was delivered on March, 15, year 1. Deductible Amount Cash method Accrual method c. $3,200 for property taxes payable on her factory. Deductible Amount Cash method Accrual method d. $1,440 for interest on a short-term bank loan relating to the period from November 1, year 0, through February 28, year 1. Deductible Amount Cash method Accrual method
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