In 2023in 2023 - Study guides, Class notes & Summaries

In 2023In 2023, the taxpayer became ineligible to use the cash method of accounting. At the beginning of the year, accounts receivable totaled $240,000, accounts payable for merchandise totaled $80,000, and inventory on hand totaled $320,000. Enter the Federal income tax adjustment due to the change in accounting method and its effect on net income.Answer & ExplanationWhen a taxpayer becomes ineligible to use the cash method of accounting and must switch to the accrual method, an adjustment is r...

Mesopotamia Review 6H(question and answer 2023 updated)2023In the ancient Sumer, each city state had a ziggurat where people went to - correct answer worship a special god or goddess What factor made it especially difficult to farm in Southern Mesopotamia? - correct answer Droughts and irregular floods The code of Hammurabi was - correct answer a set of laws The Tigris and Euphrates Rivers were important to the development of the Mesopotamian civilization because: - correct answer t...