A Corporation Has a July 31 Year End

question 61

Multiple Choice

A corporation has a July 31 year end.What is the last date it can file its return due for its July 31, 2019 year end if it files an extension?

• A)December 31, 2019
• B)November 15, 2019
• C)March 15, 2020
• D)May 15, 2020

Differentiate between assets that are depreciated and those that are not.

Compute depreciation expense using the straight-line method.

Record and reverse accrued expenses and understand their impact on financial statements.

Recognize and record office supplies expense and its effect on cash flow.