Fun inc is a calendar-year accrual basis taxpayer what is


Fun, Inc. is a calendar-year accrual basis taxpayer. what is the tax status of each of the following items for the company's current year?

a. Receivable known to be worthless in February

b. Prepaid rent of January, check received, but not deposited.

c. Dividend declared to shareholders of record as of December 30, check not received.

d. Payment for supplies ordered the previous year.

e. Increase in unpaid accounts payable.

f. Sale of securities at a loss at end of December, settlement date January 4.

g. Sale of securities at a gain at end of December, settlement date January 4.

h. Prepayment for services to be rendered this year, check cashed by payee in December.

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Taxation: Fun inc is a calendar-year accrual basis taxpayer what is
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