Talbot purchased a laptop for $1,500 and a television for $1,300. the laptop is used solely for business and the television solely for personal entertainment. during the same year, talbot experienced serious financial difficulty and sold the television for $300 and the laptop for $1,000. what amount, if any, is talbot entitled to deduct as a loss relating to the sale of the television and laptop?
a. $0
b. $500
c. $1,000
d. $1,500

Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.

What are six resources for you decide which type of business to start and how to start it?

Transactions that affect earnings do not necessarily affect cash. identify the effect, if any, that each of the following transactions would have upon cash and net income. the first transaction has been completed as an example. (if an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15, cash net income (a) purchased $120 of supplies for cash. –$120 $0 (b) recorded an adjustment to record use of $35 of the above supplies. (c) made sales of $1,370, all on account. (d) received $700 from customers in payment of their accounts. (e) purchased equipment for cash, $2,450. (f) recorded depreciation of building for period used, $740. click if you would like to show work for this question: open show work