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snow_tiger [21]
2 years ago
6

Brice is a single, self-employed electrician who earns $60,000 per year in self-employment income. Brice paid the following expe

nses this year. Which of the expenses are deductible for AGI
Business
1 answer:
ale4655 [162]2 years ago
3 0

The expenses deductible for AGI are the cost of health insurance (not purchased through an exchange, the employer portion of self-employment tax paid.

<h3><u>What is Tax?</u></h3>
  • Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
  • A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national).
  • Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation.

Taxes can be paid in cash or in the labor equivalent and can be either direct or indirect. The expenses deductible for AGI penalty on early withdrawal of funds from a certificate of deposit.

Know more about tax with the help of the given link:

brainly.com/question/16423331

#SPJ4

<h3 />
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The area of accounting that provides managers inside the organization with information they need to make decisions is called: a.
Murljashka [212]

Answer:

d. managerial accounting.

Explanation:

Managerial accounting -

It refers to the accounting practice , where identifying , interpreting , analysing and measuring the financial information to managers for the goals and target of the organisation , is referred to as managerial accounting.

It is different from the financial accounting .

Hence , from the given information of the question,

The correct term is d. managerial accounting .

4 0
3 years ago
What is the difference between an employee and applicant?
IRINA_888 [86]
Employee's<span> and </span>candidates<span> are used interchangeably. But when talking with human resources recruiters, Employee's </span><span>are job seekers who have “applied” for your job opening. ... Out of an </span>employee<span> pool of 300, you might only identify 15 </span><span>candidates</span>
5 0
3 years ago
On December 31, Hawkin's records show the following accounts.
quester [9]

Preparation of statement of owner's equity for Hawkin for the month ended December 31.

<h3>What is owner's equity?</h3>

Owner's equity is the  amount of money that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debt was paid off in the case of liquidation.

Owner's Equity = Assets – Liabilities

Assets

Cash $ 8,300

Accounts Receivable 1,100

Supplies $2,800

Equipment 15,100

Total Assets                          $27,300

Liabilities

Accounts Payable 7,600

Withdrawals  2,100

Total liabilities                      ($9,700)

Owner's equity                    $17,600

Learn more about owner's equity here : brainly.com/question/11110287

8 0
3 years ago
The King Corporation has ending inventory of $386,735, and cost of goods sold for the year just ended was $4,981,315. a. What is
trapecia [35]

Answer:

12.88

Explanation:

Given that,

Ending inventory = $386,735

Cost of goods sold for the year just ended = $4,981,315

The inventory turnover ration is determined by dividing the Cost of goods sold for the year just ended by the Ending inventory.

Inventory turnover:

= Cost of goods sold ÷ Ending inventory

= $4,981,315 ÷ $386,735

= 12.88

Therefore, the inventory turnover for the king corporation is 12.88

6 0
4 years ago
On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has
galina1969 [7]

Answer:

no gain or loss

Explanation:

<em>The amount of gain on the transaction is the difference between the sales value and the carrying value of the batting cages</em>

The carrying value of the batting cages as at when it was sold

<em>Carrying value=  original cost - accumulated depreciatio</em>n

=310,000 - 260,000

= 50,000

<em>Gain/loss= sales value - carrying value</em>

             = 50,000 -50,000

             = $0

5 0
3 years ago
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