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1 year ago

Individual proprietors report their business income and deductions on: Multiple Choice O Form 1065.

Business

1 answer:

lana [24]1 year ago

3 0

Individual proprietors report their business income and deductions on

Form 1120S.

What is Form 1120S?

Form 1120S is an IRS form used by businesses organized as S corporations to report their income, gains, losses, deductions, and credits to the Internal Revenue Service (IRS). It is a variant of the Form 1120 and is used in place of this form by businesses that have elected to be taxed as an S corporation.

What do you mean by Proprietors?

Individual proprietors are sole proprietors who own and operate a business. They are the sole owners of the business and do not have to answer to any other shareholders or partners. They have complete control over the business and its operations, as well as the profits and losses.

Hence, the correct option is Option D.

To know more about Individual proprietors,

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When your manager, Novak, talks about a , he means a set of interrelated parts that function as a whole to achieve a common purp

andrew-mc [135]

Answer:

A System

Explanation:

Novak is referring to a system. A system is a complex union of several interrelated parts that have different specific functions, but share a common goal, and a more or less common mechanism.

Society is a system, a computer as well. Firms are systems, they have different parts: employees, stockholders and management that have specific functions but work together toward a common goal: generating revenue.

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4 years ago

Madison Corporation purchased 40% of Jay Corporation for $300,000 on January 1. On June 20 of the same year, Jay Corporation dec

Mandarinka [93]

Answer:

$420,000

Explanation:

Given the above information,

Dividend

= $75,000 × 40%

= $30,000

Share in income

= $375,000 × 40%

= $150,000

Balance in investment account

= Beginning balance + Share in income - Dividend

= $300,000 + $150,000 - $30,000

= $420,000

Therefore, the balance in Madison's equity method investments - Jay Corporation accounts as of December 31 should be $420,000

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3 years ago

Historically, a factory has been able to produce a very specialized nano-technology component with 35% reliability, i.e., 35% of

pochemuha

Answer:

Yes

Explanation:

From the given output

The Probability of getting 13 or more passed

when the reliability = 0.35. can be calculated as follows

=0.0258+0.0109+0.0039+.0012+0.0004 = 0.0422 ≈ 4.2%

Since the probability is less than the 5% level we will therefore reject the Null hypothesis

answer : YES

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3 years ago

On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airli

Zepler [3.9K]

Answer and Explanation:

The Preparation of balance sheet is shown below:-

Balance Sheet

Current liability

Long term debt of Current portion $40,100,000

Long term liability

Notes payable $31,900,000

($40,100,000 - $8,200,000)

Total liabilities $72,000,000

So, to reach the total liabilities we simply add the long term debt of current portion with notes payable.

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3 years ago

Six years ago a commercial property owner paid $490,000 for her complex which included 10 acres of land valued at $100,000. Usin

Kobotan [32]

Answer:

AS land cannot be depreciated we will first subtract the value of the land from the complex so we are left with $390,000 (490,000-100,000)

In straight line method each year the asset is depreciated by the same amount so in order to find out yearly depreciation we will divide 390,000 by 40

=9750

In 6 years the complex has depreciated for $58,500

So the current value of the apartment complex would be (490,000-58500)

The current value of the apartment complex is $431500

Explanation:

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4 years ago