Taylor works for a shoe store in the mall. he earned $25,000 in wages during the year. also, because the store had a cash flow problem in june, taylor did not receive his $500 weekly check but instead was given a credit of $500 on the purchase of shoes for himself and his family. how much income should be shown in box 1 of his form w-2 and reported on his tax return as wages?

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.