1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vaieri [72.5K]
3 years ago
9

Brittany, an accrual basis taxpayer, operates a small distribution business. Her records show the following income items for the

year: Sales – paid, $64,000. Sales – unpaid, $2,750. Distributor-of-the-year prize from her supplier of $1,975. What amount does Brittany report as her gross income on her Schedule C?
Business
2 answers:
denis23 [38]3 years ago
7 0

Answer:

$68,725

Explanation:

1. In accounting and taxation, accrual basis implies that incomes of an entity must be recognized in period in which they are earned and all the expenses must also be recognized in the period in which they are incurred whether cash is paid immediately or not.

In the question, both the Sales – paid, $64,000 and Sales – unpaid, $2,750 must be recognized and used in our calculations despite that cash has been paid for Sales – paid, $64,000 but not for Sales – unpaid, $2,750.

2. In accounting and taxation, prize money are regarded as income and are subject to tax despite there is no exchange of goods and services. Therefore, distributor-of-the-year prize from supplier of $1,975 will be included in our calculation as part of the gross income.

From the explanation above, gross income can is therefore calculated as follows:

Gross Income = Sales-Paid + Sales-Unpaid + Distribution-of-the year Prize

Gross Income = $64,000 + $2,750 + $1,975

Gross Income = $68,725.

Butoxors [25]3 years ago
4 0
Her gross income is $65,975.00 
You might be interested in
With careful attention to controlling costs and quality, businesses can successfully satisfy consumers with a standardized produ
11111nata11111 [884]

Answer:

True (A)

Explanation:

Business can ensure  product standardization for different markets with careful attention to controlling cost and quality. Costs are inevitably in a business, however, they can be managed to the barest minimum.

6 0
3 years ago
Resources are adequate, but demand varies widely over the life of the project. Delaying noncritical activities to lower peak dem
-BARSIC- [3]

Answer:

resource smoothing

Explanation:

According to the definition provided in the question we can say that this is regarding resource smoothing. Like mentioned in the question this term refers to a management technique that adjusts the resources so that the requirements do not surpass the resource limits that the company has specified, by delaying the noncritical activities in order to allow for the important ones first.

If you have any more questions feel free to ask away at Brainly.

3 0
3 years ago
In economics, all of the following are included among the three main uses of money EXCEPT:
Anestetic [448]
The answer is B, which is weight of gold. I say this because money is used as a means of exchange, that is; it is used to get goods.
  Money is also used to store value because if you pay for something, you value it more. 
   It is also a unit of account. Hope i helped. Have a nice day.
4 0
3 years ago
Read 2 more answers
Rachael’s Restaurant, a fast-food restaurant company, operates a chain of restaurants across the nation. Each restaurant employs
netineya [11]

Answer:

a. Advertising costs relative to the number of customers for a particular restaurant.   [Fixed]

b. Rental costs relative to the number of restaurants.  [Variable]

c. Cooks salaries at a particular location relative to the number of customers.          [Fixed]

d. Cost of supplies (cups, plates, spoons, etc.) relative to the number of customers.  [Variable]

e. Manager's compensation relative to the number of customers.  [Mixed]

f. Servers' salaries relative to the number of restaurants.  [Variable]

Explanation:

8 0
3 years ago
Match each situation with the term that best describes it. Use each term only once.
Dmitry [639]

Answer:

1. One of your subordinates only seems to respond to threats of punishment. What type of power should you use to motivate him?

h. <u>Persuasive power </u>

2. You manage a difficult subordinate who only cooperates when she feels that you have the formal authority to ask her to do something. What type of power should you use to motivate her?

b. <u>Legitimate power</u>

3. One of your subordinates looks up to you as a role model. What type of power should you use to motivate her?

a. <u>Personal power</u>

Explanation:

In any given situations there are different incidents that would require someone to apply different power in-order to manage the situation. This could be in form of motivation or deterrent method during the application of the power.

For example, in the case of the subordinate looking up to you as a role model, you should apply personal power in-order to motivate the person. the personal power will help you to build personal relationship between the subordinate and you.

7 0
2 years ago
Other questions:
  • Stock r has a beta of 1.5, stock s has a beta of 0.75, the expected rate of return on an average stock is 13%, and the risk-free
    12·1 answer
  • The overminustheminuscounter ​(OTC) market is​ ________.
    7·1 answer
  • An accountant increases the price he charges for his services by 14 percent. In​ response, the demand for his services decreases
    14·1 answer
  • Limited decision making is used when purchasing frequently bought, low-cost items needing very little decision effort.
    11·1 answer
  • ​Company's Manufacturing Overhead account is given below. Use this information to prepare the journal entry to adjust for overal
    13·1 answer
  • Economist Bruce Kirchhoff contends that business failures are much lower than traditionally reported.
    13·1 answer
  • Beta Electronics reports the following data for the year ended December 31, 2019:
    15·1 answer
  • According to the quadrants of the social style matrix, which of the following should salespeople do when selling to expressives?
    10·1 answer
  • The unit rate for 63 meters in 36 minutes
    11·1 answer
  • Sandhill Corporation loaned $590000 to another corporation on December 1, 2020 and received a 3-month, 6% interest-bearing note
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!