Acct 517 exam 2 - Study guides, Class notes & Summaries

ACCT 517 - Exam 2 (Ch. 6-11) Exercise 6-27 (Algorithmic) (LO. 2) Falcon, Inc., paid salaries of $707,200 to its employees during its first year of operations. At the end of the year, Falcon had additional unpaid salaries of $70,720. a. Calculate the salary deduction if Falcon is a cash basis taxpayer. $ b. Calculate the salary deduction if Falcon is an accrual basis taxpayer. $ 1 a. Calculate the salary deduction if Falcon is a cash basis taxpayer. $ 2 b. Calculate the salary deducti...