Pierre, a cash basis, unmarried taxpayer, had $1,400 of state income tax withheld during 2018. also in 2018, pierre paid $455 that was due when he filed his 2017 state income tax return and made estimated payments of $975 towards his 2018 state income tax liability. when pierre files his 2018 federal income tax return in april 2019, he elects to itemize deductions, which amount to $15,650, including the $2,830 of state income tax payments and withholdings, all of which reduce his taxable income. as a result of overpaying his 2018 state income tax, pierre receives a refund of $630 early in 2019. the standard deduction for single taxpayers for 2018 was $12,000. how much of the $630 will pierre include in his 2019 gross income?

Given the following information, calculate the savings ratio: liabilities = $25,000 liquid assets = $5,000 monthly credit payments = $800 monthly savings = $760 net worth = $75,000 current liabilities = $2,000 take-home pay = $2,300 gross income = $3,500 monthly expenses = $2,050 multiple choice 2.40% 3.06% 34.78% 33.79% 21.71%

Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)

Complete electronics inc. sells a point-of-sale computer with a two-year service contract. complete collects $ 2 comma 500 cash for the selling price of the computer and $ 576 for the two-year service contract. how is revenue recognized?