View Full Version : 2007 #28
04-14-2009, 05:07 PM
This is about as basic as it gets, and yet I completely fail to understand how they are getting 895. I guess this is what I get for using past exams as study material and putting off the heavy-duty accounting.
04-14-2009, 05:38 PM
This is almost exactly an example Feldblum goes through in the Sched P paper...if you briefly look that over, it is pretty straightforward.
04-14-2009, 05:45 PM
Part 3 doesn't include Adjusting & Other Expense, so payments in the prior years in 2006 is 490.
The 2006 entry in the prior years row is (390-250)+(765-500)=405.
04-15-2009, 08:41 AM
With your help, I was able to do the easiest question on the exam. Thanks!
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