28465 43128 63049 Fox Brothers Co... Continental and Commercial National Bank of Chicago. Mar. 11, 1933 Safety Electric Products Co... Mar. 11, 1933 49656 Peabody Coal Co., Formerly Big Muddy Co... Mar. 20, 1933 Mar. 20, 1933 34287 Express Trust, Known as Western Avenue Golf Club, 40977] T. A. Morrissey, et al., Trustees_ Mar. 24, 1933 42166 James C. Jones, Sr. Mar. 24, 1933 46399 Charles F. Murphy. Mar. 24, 1933 48055 Lucky Tiger-Combination Gold Mining Co.. Mar. 25, 1933 47793 Nulomoline Co. - - - Mar. 27, 1933 45621) 48191 Southern States Supply Co..... Mar. 27, 1933 54658 59424 Shearman Concrete Pipe Co., Transferee of Shearman of 36136 Mrs. I. Rabinovitz, Transferee of Lydia Oil Co.. 54525 E. S. Cowgill... Apr. 10, 1933 57780 39896 Estate of Clara de Choiseul, Charles W. Sutro, et al., Executors. 45576 John L. Igleheart_ Apr. 10, 1933 45573 Leslie T. Igleheart_ Apr. 10, 1933 58540 53905 55560 Lee Warren James_ 54524 D. J. Metcalf___ 41210 Potter Realty Corporation_ Edward B. Robinette_ 44925 Pauline M. Sabin_. Apr. 10, 1933 68170 Apr. 10, 1933 404991 Apr. 10, 1933 46177 Apr. 10, 1933 57779 Apr. 10, 1933 57733 52528 Daniel G. Tenney. Apr. 10, 1933 Apr. 10, 1933 57730 55347 Union Sand and Gravel Co. Apr. 10, 1933 57732 65517 Ernest L. Woodward__ Apr. 10, 1933 Apr. 11, 1933 52350 Apr. 11, 1933 Apr. 11, 1933 51017 Apr. 11, 1933 51015 36074 37913) 38856 Hazel D. Bradshaw (Woodward) 59961 49727 Alfred Brand_. Apr. 13, 1933 67024 Estate of Marie Louise Wight, Stephen P. Nash, Cus todian... Apr. 25, 1933 2603 56988 Columbia Steel Corporation. Apr. 26, 1933 2237 144 474891 61763) Corbett Investment Co.... Apr. 26, 1933 122 202 2 Reported in previous volume as Promulgated Decisions. 3482 47458 49180 63122 Kansas City American Association Baseball Co.... Whitehead Metal Products Co., of New York, Inc. Apr. 27, 1933 Apr. 28, 1933 57780 Lucille M. Morris._ Apr. 28, 1933 57731 Lucille Urschel Morris, Trust No. 71, Toledo Trust Co., Trustee.. Apr. 28, 1933 58540 Lena F. Mundt. Apr. 28, 1933 57733 Elizabeth A. Urschel, Trust No. 70, Toledo Trust Co., Trustee__ Apr. 28, 1933 57730 Estate of William L. Urschel, Toledo Trust Co., Executor. Apr. 28, 1933 57732 William L. Urschel, Trust No. 69, Toledo Trust Co., Trustee.. Apr. 28, 1933 Apr. 28, 1933 Apr. 28, 1933 Apr. 28, 1933 52350 Estate of Malcolm D. Whitman, Watson Washburn, PROCEEDINGS DISMISSED OR OTHERWISE DISPOSED OF UPON REHEARING OR SUBSEQUENT TO PROMULGATED DECISION. 24197 Estate of Fernando P. Neal, Mary Neal Crutcher, et al., 34821 Estate of Thomas Burke, Seattle Title Trust Co., et al., Administrators.. Feb. 6, 1933 34131 22453 38105 Charles J. Canfield.. Feb. 10, 1933 La Salle Cement Co., By Alpha Portland Cement Co.- Feb. 10, 1933 Estate of Frederick C. Bowditch. Feb. 13, 1933 Feb. 17, 1933 Feb. 25, 1933 La Floridienne J. Buttgenbach and Co.. Mar. 11, 1933 ABATEME 48152 46859 Estate of W. T. Waggoner, W. T. Waggoner, Trustee... Mar. 13, 1933 Estate of W. S. Forbes.. 15814 Aluminum Goods Manufacturing Co Mar. 28, 1933 25684 Edward T. Blair.......... Mar. 31, 1933 40381 J. E. Adams, Transferee of Dominguez Harbor Tract No. 2.... Accrual 40491 J. A. Anderson, Transferee of Dominguez Harbor Tract 40517 J. H. Miller, Transferee of Dominguez Harbor Tract No. 2... Apr. 12, 1933 40380 G. F. Sloan, Transferee of Dominguez Harbor Tract No. 2. Estate of Louise P. V. Whitcomb, John Freuler, Adminis Apr. 18, 1933 Apr. 18, 1933 Apr. 21, 1933 Apr. 22, 1933 Apr. 24, 1933 Apr. 24, 1933 Apr. 25, 1933 Apr. 28, 1933 INDEX. ABANDONMENT. See LOSSES, II, 1. ABATEMENT CLAIMS. See LIMITATIONS, I, 1. ACCOUNTING: I. Methods of Accounting: (1) Generally, p. 1429. (2) Accrual or Cash, p. 1429. II. Periods of Accounting, p. 1430. See CAPITAL; CARRIERS, 2, 3; COMPENSATION, II, 2, 3; DIVIDENDS, I, 7; Accrual or cash. See I (2), infra; CREDITS, I, INTEREST, 5, 7. Accrual or installment. See INSTALLMENT SALES, 1. Change of accounting period. See II, infra. Charging off bad debts. See BAD DEBTS, I, 3; II. Constructive receipt. See I, 10, 11, infra; COMPENSATION, II, 1; I. METHODS OF ACCOUNTING. (1) Generally. 1. Accounting for Income. Where method used by Commissioner results in an admittedly correct computation of net income, it will not be revised on account of a single item. Southern Ry. Co‒‒‒‒‒ 2. Id. His allocation of income over the years involved is approved where records to show error were not produced. Kizzie Gordon---. Page 673 377 3. Id. Taxpayers were engaged in the business of marketing flags for street decoration through contracts with local organizations. Under terms of the contracts no sale occurred until delivery was made to purchaser and payment received by agent. Held, income should be accounted for by including in sales only shipments for which payment was received in tax year. Floyd L. Musgrove_-_-. 4. Change of Basis; Consent of Commissioner. Taxpayer may not change basis of reporting income without first obtaining permission from Commissioner to do so. Jerome R. George.. (2) Accrual or Cash. 5. Accrual Basis. Bonus and Commissions based on percentage of profits, not determinable until after close of accounting period but charged on corporate books as of last day of the period, should be treated by recipient on accrual basis as income for year in which earned, rather than for year in which paid. Jerome R. George___. 6. Id. Commissioner's Error made in the course of transferring income improperly reported on return for one year to the proper return, admitted and corrected. Id. 7. Id. Taxpayer on accrual basis accepted demand promissory notes from stockholders in partial payment for stock, but neither received nor demanded payment of either principal or interest. Held, interest on the notes which accrued each year must be reported as income. Umpqua Timber Co.......... 1429 554 765 765 135 |