Journal of Accountancy, Volumen31American Institute of Certified Public Accountants, 1921 |
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Términos y frases comunes
actual additional allowed amended American amount announce applied assets balance bank basis bonds branch bricks building capital cash cent charged claim close commission computed consideration considered corporation cost court death decision deduction depreciation determined difference dividends dollars earnings effect entire entry equipment estimated examination excess exchange expense fact federal finished foreign given held included income income tax increase Institute interest inventory invested issue JOURNAL labor less liabilities loss manufacturing March material means method necessary normal notes operating paid payable payment period plaintiff plant practice present problem production profit purchase question reason received records represent reserve respect result selling sold statement surplus taken taxable term tion trade United York
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Página 446 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Página 97 - Before coming to the question of profit at all the company is entitled to earn a sufficient sum annually to provide not only for current repairs but for making good the depreciation and replacing the parts of the property when they come to the end of their life.
Página 435 - ... (c) Guardians, trustees, executors, administrators, receivers, conservators, and all persons, corporations, or associations acting in any fiduciary capacity, shall make and render a return of the income of the person, trust, or estate for whom or which they act, and be subject to all the provisions of this title which apply to individuals.
Página 376 - The value of the gross estate of the decedent shall be determined by including the value at the time of his death...
Página 306 - A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.
Página 443 - States who is not a mere transient or sojourner is a resident of the United States for purposes of the income tax. Whether he is a transient is determined by his intentions with regard to the length and nature of his stay.
Página 376 - To the extent of any interest therein of which the decedent has at any time made a transfer, or with respect to which he has created a trust, in contemplation of or intended to take effect in possession or enjoyment at or after his death, except in case of a bona fide sale for a fair consideration in money or money's worth.
Página 446 - The amount of all such items shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under subdivision (b) of section 212, any such amounts are to be properly accounted for as of a different period...
Página 436 - Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests, and income accumulated or held for future distribution under the terms of the will or trust...
Página 204 - Any transfer of a material part of his property in the nature of a final disposition or distribution thereof, made by the decedent within two years prior to his death without such a consideration, shall, unless shown to the contrary, be deemed to have been made in contemplation of death...