(Solution) - Falcon Inc paid salaries of 500 000 to its employees during -(2025 Original AI-Free Solution)
Paper Details
Falcon, Inc., paid salaries of $500,000 to its employees during its first year of operations. At the end of the year, Falcon had unpaid salaries of $45,000.
a. Calculate the salary deduction if Falcon is a cash basis taxpayer.
b. Calculate the salary deduction if Falcon is an accrual basis taxpayer?