BAUGHN'S APPLIANCE, INC. v. COMMISSIONER

Memorandum Opinion

VAN FOSSAN, Judge:

Respondent determined a deficiency in petitioner's income tax for the taxable year ended September 30, 1954, in the amount of $1,902.29. The deficiency was based in part on the disallowance of deductions based on the following accounting adjustments to petitioner's net income:

  Accounts receivable adjustment .....  $1,300.30
  Contracts receivable adjustment ....   1,597.66
  Cash adjustment ............

                    
                    
                    

                        

                            

                                

                            
                            

                                

                                    

                                        

                                        

                                        

                                    
                                
                                

                                    
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