Required information Problem 9-73 (LO 9-4) (Algo) [The following information applies to the questions displayed below.) Rebecca is a calendar-year taxpayer who pperates a business. She made the following business-related expenditures in December of this year. Indicate the amount of these payments that she may deduct this year under both the cash method of accounting and the accrual method of accounting. (Leave no answers blank. Enter zero if applicable.) Problem 9-73 Part-d (Algo) d. $3,810 for interest on a short-term bank loan relating to the period from October 1 of this year, through March 31 of next year. Answer is complete but not entirely correct. $ Cash method Accrual method Deductible Amount 1,590 1,590 $ SE an BRE B. Next > 11 ! Part 4 of 4 Required information Problem 9-46 (LO 9-1, LO 9-2) (Algo) (The following information applies to the questions displayed below.) Michelle operates several food trucks. Indicate the amount (if any) that she can deduct as an ordinary and necessa business deduction in each of the following situations. (Leave no answers blank. Enter zero if applicable.) 0.5 points Problem 9-46 Part-d (Algo) d. Michelle realized a $1,220 loss when she sold one of her food trucks to her father, a related party. Answer is complete but not entirely correct. Deductible amount $ 1,220 % Chapter 9 Homework Saved 14 Part 3 of 4 Required information Problem 9-62 (LO 9-4) (Algo) [The following information applies to the questions displayed below.) In January of year 0. Justin paid $7,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting. 0.5 points Skipped What amount of the insurance premium may Justin deduct in year in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) eBook Problem 9-62 Part-c (Algo) Print c. Justin pays $9,000 for a 24-month policy that covers the business from April 1 year O, through March 31, year 2. (Do not round intermediate calculations.) References Deductible amount 18 . Part 3 of 3 Required information Problem 9-60 (LO 9-4) (Algo) [The following information applies to the questions displayed below.) Jeremy is a calendar-year taxpayer who sometimes leases his business equipment to local organizations. He recorded the following receipts this year. Indicate the extent to which these payments are taxable income to Jeremy this year if Jeremy is (1) a cash-method taxpayer and (2) an accrual-method taxpayer. (Leave no answers blank. Enter zero if applicable.) 0.5 points Problem 9-60 Part-c (Algo) c. $695 lease payment received from the Men's Club this year for renting Jeremy's trailer last year. Jeremy billed the club last year, but recently he determined that the Men's Club would never pay him, so he was surprised when he received the check Answer is complete but not entirely correct. Income under cash method Income under accrual method $ 695
