Steem Advertising Corporation
Question # 00098643
Posted By:
Updated on: 08/29/2015 11:51 AM Due on: 08/15/2015
Steem Advertising Corporation acquires 100 laptop
computers in 2012 for its account executives to use. Steem pays
$300,000 for the computers and bundled software. You are a newly hired
CPA and you expect to advise Steem on tax issues regarding tax years
2013 and 2014. Upon examining the firm's records for 2012, you find
that each computer was expensed and deducted in 2012. Later when
examining one of the computers, you notice it has several games loaded
on the hard drive. Also, you find several items of personal
correspondence saved in a subdirectory of the word processing package.
What should you do? What are your obligations under the SSTSs?
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Rating:
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Solution: A++ PERFECTLY DONE