Publishers face the economy’s choices in products they want/need and on how the ways of selling it and where to sell it
Answer:
Net Income is $17,000
Explanation:
A sole proprietor is not taxed as a business entity but all the income and expenses should be reported on the income tax return. On schedule C all the details of profit and loss should be submitted with Form 1040.
Net profit calculation to report on Schedule C is as follow:
Net sales - $80,000
Cost of goods sold <u>($40,000)</u>
Gross Income $40,000
Operating expenses <u>($20,000)</u>
Operating Income $20,000
Employee payroll taxes <u>($3,000)</u>
Net Income <u> $17,000 </u>
Answer: c). a decrease in the government's budget surplus or an increase in its budget deficit.
Explanation: Budget surplus refers to the excess of government revenue from taxes and other sources over its expenditure. While, budget deficit refers to the excess of government expenditures over its revenue.
BS= T>G
BD= G>T
A decrease in the government's budget surplus or an increase in its budget deficit leads to an increase in the interest rate in the economy. Thus the correct option is c.
Answer:
Correct answer is Option A = $67
<u>Explanation:</u>
In order to find out the predetermined overhead rate, forecasted overhead for the current year will be taken into account alongwith total machine hours of that has been forecasted for the current year.
Formula for calculation
Predetermined overhead rate = Forecasted Overhead for the year / Total Machine hours
Forecasted Overhead for the year = $11938000
Total Machine hours = 177000
Predetermined overhead rate = 11938000/177000 = $67 ( Rounded off )
Answer:
The correct answer is:
c. $18,000
Explanation:
According to the information provided, it is possible to determine that for Juan it would be necessary to file a return due to the fact that his gross income was at least $ 18,000 and that by the end of the year he was under 65 years old. It is necessary to take into consideration different facts to be legally required to file a federal tax return such as the filing status, age and gross income mainly.
