1. Which filing status reaches the highest marginal rate at the lowest level of taxable...
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Accounting
1. Which filing status reaches the highest marginal rate at the lowest level of taxable income. single head of household married filing jointly married filing separately surviving spouse
2. The TV Company, an accrual basis calendar year taxpayer, allows its customers to pay by the year, two years in advance or three years in advance. On January 1, 2018, the company collected the following amounts applicable to future services:
2018 service contracts (one year contracts) $12,000
2019 and 2021 service contracts (2-year contracts) $24,000
2018, 2019, 2020 service contracts (3-year contracts) $36,000
The revenue is earned evenly over each month of the contract starting with January, 2018. Cable TV wants to report as little income as possible in each year. In what year will they report the most amount of gross income under the above contracts?
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