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3 years ago

In which areas could the applicant exhibit growth or improvement?

1 answer:

5 0

<span>areas in which there aptitude test show low scores. When an applicant is accessed there are several parameters that are used. These include motivational statements, the gmat scores, the transcript from previous academic studies. When all these are looked at, for a consideration to be made, one must look at the areas that the student is weak at and have the possible strength to improve on. this is based on the strong parts that he excelled in. If he is seen to have exhibited excellent qualities in the tough areas and the weak ones can be improved on with better environment, grooming then a consideration can be made.</span>

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Which of the following expenses is NOT deductible when a taxpayer uses the simplified method of calculating the home-office dedu

Rasek [7]

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.

Learn more about home office deductions here:

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8 0

1 year ago

Urban Window Company had gross wages of $320,000 during the week ended July 15. The number of wages subject to social security t

marshall27 [118]

Answer:

wages expense 320,000 debit

cash 218,400 credit

FICA tax payable 2,160 credit

SUTA tax payable 240 credit

Social security payable 24,000 credit

wages income tax payable 75,200 credit

--to record July 15th payment to employees wages--

payroll tax expenses 26,400 debit

FICA tax payable 2,160 credit

SUTA tax payable 240 credit

Social security payable 24,000 credit

---to record the payroll tax for the week ended July 15th--

Explanation:

We multiply the wages subjet to taxation by each rate:

social security:

320,000 x 7.5% = 24,000

SUTA

40,000 x 5.4% = 2,160

FICA

40,000 x 0.6% = 240

For this three concepts, the employee will have liability for the same amount for payroll taxes

Income tax 75,200

net wages: 320,000 - 24,000 - 2,160 - 240 - 75,200 = 218,400

4 0

3 years ago

Sandra Sousa, Registered Dietician Trial Balance July 31, 2018 Balance Account Title Debit Credit Cash 33000 Accounts Receivable

kirza4 [7]

Answer:

Requirement 1. Prepare the income statement for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Income Statement

For the Month Ended July 31, 2018

Service Revenue $11,258

Salaries Expense -$1,500

Rent Expense -$1,200

Utilities Expense -$350

Net income $8,208

Requirement 2. Prepare the statement of owners equity for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Statement of Owner's Equity

For the Month Ended July 31, 2018

Sousa, Capital balance July 1, 2018 $22,000

Investment during month $0

<u>Net income $8,208</u>

subtotal $30,208

<u>Withdrawals during the month -$2,000</u>

Sousa, Capital balance July 31, 2018 $28,208

Requirement 3. Prepare the balance sheet &s of July 31, 2018.

Sandra Sousa, Registered Dietitian

Balance Sheet

For the Month Ended July 31, 2018

Assets:

Cash $33,000

Accounts Receivable $9,600

Office Supplies $2,200

Prepaid Insurance $2,800

Equipment $18,000

Total assets $65,600

Liabilities and equity:

Accounts Payable $3,100

Unearned Revenue $292

Notes Payable $34,000

Sousa, Capital $22,000

Retained earnings $6,208

Total liabilities and equity $65,600

Requirement 4. Calculate the debt ratio as of July 31, 2018.

debt ratio = liabilities / assets = $65,600 / $37,392 = 175.44%

debt to equity ratio = liabilities / equity = $37,392 / $28,208 = 132.56%

7 0

3 years ago

The original capital that you deposit or invest is called the

bonufazy [111]

I think that it's either C or D but i'm going to go with D but if that's not the correct awnser is C

5 0

3 years ago

Read 2 more answers

Brokers differ from insurance agents in that ____

leva [86]

Answer: Option A

Explanation: A broker refers to a person or a firm who charges fees from the investors for executing their purchase and sale transactions. The broker sometimes also charge their customers for their consultancy services.

Whereas insurance agents refers to the person who sell the insurance policies to the general public and in return gets commission from the insurance company on the premiums paid by the insured.

Hence from the above we can conclude that the correct option is A.

8 0

3 years ago