To: Arthur Wildfire! March
To further clarify what I described above, company assets which were not part of inventory were accounted for pretty much as they are now; that is, below a certain value they are treated as current expenses and above that value they must be depreciated so that only a part of the asset's value can reduce earnings in any given year.
Such assets as described above were not included in the inventory for the purposes of valuing the inventory in order to compute the tax.
To: William Tell
‘Such assets as described above were not included in the inventory for the purposes of valuing the inventory in order to compute the tax.’
You mean to say that if Wal*Mart keeps a million dollars worth of medicine and/or food on stock that is not tallied as ‘assets’?
18 posted on
10/29/2016 3:08:03 PM PDT by
Arthur Wildfire! March
(Hillary's Trickle Up policy: take bribes, sell sleazy pardons, water down AIDS medicine.)
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