CPA REVIEW FOR FREE - New Features and Updates
    support - 01/16/2019, 2:46 pm
    Welcome to the brand new CPA Review for Free! We’ve made a lot of changes to our study platform for both free and premium users. We now offer a subscription plan called [CPA REVIEW PLUS+](/upgrade). We are very excited about the features available in this plan. **DASHBOARD** There’s a brand new landing page when you enter the study platform. For PLUS+ subscribers this dashboard will give you a broad view of your performance, your recent study sessions, recent exams, and much more. **PRACTICE EXAMS (PLUS+)** They’re finally here! You can now take practice exams for AUD, BEC, REG, and FAR. These practice exams are virtually identical to the real AICPA exam and include all the tools and functionality offered in the real exam. **SIMULATIONS (PLUS+)** We now offer in-depth simulations within our practice exams. These simulations mirror the real exam simulations and better prepare you for all aspects of the test. We would love to hear your feedback on these new features, feel free to contact us or post right here in the community forums. Thanks CPA Review Support
    5
    U
    Interest expense
    user-806 - 06/16/2019, 7:51 pm
    Can anyone please explain me why $32,000 of $80,000 moved to warehouse account? Thank you in advance!
    1
    I thought losses were never deductible on personal property
    Caroline-91970 - 06/15/2019, 9:55 pm
    Number 4?
    0
    Aren't charitable carryovers deducted first when determining the amount of gross income threshold for charitable contributions in CY?
    Caroline-91970 - 06/15/2019, 9:28 pm
    So wouldn't it be 200K-8K=192K*10%=19,200 allowable charitable contributions in CY?
    0
    G
    Illegal Act
    Greg-82453 - 06/13/2019, 7:00 pm
    Why would you give a qualified opinion if there was an illegal act?
    1
    U
    study score
    user-16033 - 06/12/2019, 3:00 am
    How come there is no score activated in this study? and it is stange to see that although I scored 5 questions all corrrect, the final score said that 5 was incorrect.
    0
    Right-of-Use Asset and Lease Liability expenses
    PoorAuditStaffer - 06/8/2019, 6:55 pm
    The present value of the lease asset and liability are the same, so as the cash is paid to rent expense, there needs to be the lease asset reduction. This nets with the lease liability reduction (because it is operating and not based on interest). Shouldnt expense be grossed up by the reduction of the lease asset?
    0
    Why does it not qualify under 351?
    Caroline-91970 - 06/1/2019, 10:36 pm
    Is it because it's preferred stock he receives in exchange or is it because it's repayment for a loan?
    1
    I thought control was 80% of the stock?
    Caroline-91970 - 06/1/2019, 9:16 pm
    They're each getting 1/2 of the corp's shares so 50%.
    1
    U
    Accounts Payable
    user-8842 - 05/31/2019, 3:51 pm
    Since the $40,000 was earned within the fist year, but not "paid out". Shouldn't the there be an expense for the $40,000 incurred but not paid. Therefore the $800,000 would be an increase in restricted net assets and the $40,000 would be a decrease in unrestricted net assets. There would also be a liability set up for the $40,000 expense. Then that liability would be debited when the $40,000 is actually paid out. Please correct me if i'm wrong.
    0
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