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The owner of Sorena Company has asked your firm not to close the revenue accounts at the end of the fiscal year. Our year-end income
The owner of Sorena Company has asked your firm not to close the revenue accounts at the end of the fiscal year. "Our year-end income statement will look a lot better if we can fatten up those revenue figures with a couple extra days of revenue," she says.
Sorena Company is a client of Accounting Services, Inc. You work for Accounting Services, I'm your supervisor and I've asked you to research this issue and give me your opinion and recommendations. You can assume I have knowledge of the subject area.
- Review your eText,Accounting Periods and MethodsandTax Guide for Small Business
- Based on your review, formulate a memorandum to your supervisor that explains the relevant tax code as well as provides your interpretation and recommendations.
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