The simplified method of computing home office expenses limits the number of home office expenses allowed to a fixed amount regardless of the amount of business income or the size of the home office.
<h3>How do you calculate home office deductions?</h3>
A business owner can calculate the home office deduction in two ways: regular and simplified. The regular method would require you to use Form 8829 to calculate your deduction, which would include figures for the area of your home and the total hours it was used for business purposes, your business income, and other business expenses.
If you itemize deductions and use the simplified method for a taxable year, you can deduct home expenses that would otherwise be deductible as itemized deductions on Form 1040 or 1040-SR, Schedule A, without reducing these expenses by the amounts allocable to the simplified method.
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Current assets, or possessions used up within a year, are generally used to settle current liabilities.
<h3>Why do you use the term "current liabilities"?</h3>
- Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
- In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
- Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.
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The question is incomplete. The complete question is :
A manufacturer believes that the cost function : 
approximates the dollar cost of producing x units of a product. The manu- facturer believes it cannot make a profit when the marginal cost goes beyond $210. What is the most units the manufacturer can produce and still make a profit? What is the total cost at this level of production?
Solution :
Given the cost function is :
Now, Marginal cost = 
So, if the marginal cost = $ 210, then the manufacturer also makes a profit and if it goes beyond $ 210 than the manufacturer cannot make a profit.
Therefore, we have to equate : 
So when x = 45, then C(x) = $ 8042.5
Therefore, the manufacturer 
to 45 units and 
This leads to a total cost of $ 8042.5
Answer:
A)
1. Dr Cash 400
Cr Equipment 400
Dre Wages expense 400
Cr Cash 400
2. Dr Service revenue 550
Cr Cash 550
Dr Cash 5,500
Cr Service revenue 5,500
3. Dr Accounts payable 260
Cr Equipment 260
Dr Equipment 620
Cr Accounts payable 620
B)
1. Dr Wages expense 400
Cr Equipment 400
2. Dr Cash 4,950
Cr Service revenue 4,950
3. Dr Equipment 360
Cr Accounts payable 360
Answer:
enduring;
situational
Explanation:
The concept of enduring participation implies the existence of a long-term relationship, regardless of the current situation.
Situational participation depends on the moment and how attractive the event is in a specific period of time.
