Archive for September, 2008
How should unearned income be shown on a balance sheet and income statement?
Johnny asked: Suppose that during a given year, I receive payments of $50,000. During this year, $30,000 of these payments have not yet been earned. Should the $50k go as revenue on my income statement? Should the $30k go as a liability on my balance sheet? How should I represent all of this in the [...]
Can I exclude my foreign income when filing jointly with my husband whose tax status is a resident alien?
meixin_2001 asked: I was internally transfered (within the same company) from Singapore to CA in June 2007 and are now working permanently at US. I do have incomes earned when working at Singapore, which is not covered on my w-2 form. If I file jointly with my husband as a resident alien, do I have [...]
