Journal of Accountancy, Volume 25American Institute of Certified Public Accountants, 1918 |
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Common terms and phrases
Accounts payable Accounts receivable accrued act of October actual allowed amount applicable assessed assets audit auditor balance bank basis bonds book value Capital stock cash certificates certificates of indebtedness charge collector commissioner of internal compensation computing consolidated balance-sheet contract controlling account cost Current liabilities December 20 December 31 deduction depreciation determined discount dividends duty earnings excess profits tax exchange exemption expenses filed fiscal fund goodwill holding company included income and excess income tax Institute of Accountants intangible Inter-co inter-company interest internal revenue inventory invested capital invoice issued January ledger liabilities Liberty loan machine manufacturing ment method navy net income officers operations overhead paid pay corps payment Plant and equipment pre-war period purchase purpose regulations reserve salaries second-hand statement stockholders subsidiary surplus tangible property taxable taxpayer tion trade or business treasury United
Popular passages
Page 289 - ... employers, and all officers and employees of the United States having the control, receipt, custody, disposal, or payment of interest, rent, salaries, wages, premiums, annuities...
Page 61 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 275 - A word is not a crystal, transparent and unchanged; it is the skin of a living thought and may vary greatly in color and content according to the circumstances and the time in which it is used.
Page 375 - fiscal year " mean an income year, ending on the last day of any month other than December. 10. The word " paid " for the purposes of the deductions under this act, means
Page 289 - ... or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto...
Page 219 - In the case of a foreign corporation; "(c) Where a mixed aggregate of tangible property and intangible property has been paid in for stock or for stock and bonds and the commissioner is unable satisfactorily to determine the respective values of the several classes of property at the time of payment, or to distinguish the classes of property paid in for stock and for bonds, respectively...
Page 453 - Generally speaking, if contingent compensation is paid pursuant to a free bargain between the employer and the individual made before the services are rendered, not influenced by any consideration on the part of the employer other than that of securing on fair and advantageous terms the services of the individual, it should be allowed as a deduction even though in the actual working out of the contract it may prove to he greater than the amount which would ordinarily be paid.
Page 204 - ... may include only those held for purposes of resale and not for investment. Taxpayers who buy and sell or hold securities for investment or speculation, irrespective of whether such buying or selling constitutes the carrying on of a trade or business, and officers of corporations and members of partnerships who in their individual capacities buy and sell securities, are not dealers in securities within the meaning of this section.
Page 205 - ' means the twelve months ending December thirty-first, excepting in the case if a corporation or partnership which has fixed its own fiscal year, in which case it means such fiscal year.
Page 375 - President of the end of the war with Germany, for filing returns of income for 1918 and subsequent years and for paying the tax by or for nonresident enemies or allies of enemies...