Consider the following independent scenarios: View the scenarios. Requirement In light of the economic performance requirement, how much is deductible by the following accrual-basis corporate taxpayers this year? (Complete all input fields. Enter a "0" of the amount is currently deductible.)
a. Pippin Corporation sells products with a one-year warranty. Pippin estimates that the warranty costs on products sold during this year will amount to $96,000. Pippin performs $40,000 of warranty work on products sold last year and $33,000 of warranty work on products sold this year.
b. Irvina Corporation agrees to pay $12,000 this year and $12,000 next year to a software developer. The developer completes all work on the software and delivers the product to Irvina this year.
c. Wyler Corporation pays $4,000 to a supplier to guarantee delivery of raw materials. The $4,000 is refundable if Wyler decides not to acquire the materials.
d. This year Trag Corporation pays a $2,200 security deposit on space it rents for a new office. In addition, Trag pays current year rent of $25,000. The security deposit is refundable if the property is returned in good condition. Current year deduction K
Consider the following independent scenarios: View the scenarios: Requirement In Eght of the econonic performance requirement, how much is deductible by the following accrual-basis corporate taxpayers this year? (Complete all input fields. Enter it "0 of the amount is currently deductible.)
