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juin [17]
3 years ago
5

As a result of a divorce settled in 2017, a taxpayer received the following during the current year: Child support $12,000 Alimo

ny $5,000 Cash related to property settlement $2,000 What amount, if any, must be included in gross income for the current year?
Business
1 answer:
Dvinal [7]3 years ago
5 0

Answer:

$30,000 is the correct answer.

Explanation:

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Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay the remainder next mont
Anon25 [30]

Answer:

B. Cash 1,300  Dr, Accounts Receivable 1,200 Dr, Consulting Revenue 2,500 Cr

Explanation:

                             Kincaid Company

                                  Journal Entry

Date      Description                             Debit       Credit

              Cash                                      $1,300

                     <em>Accounts Receivable                      $1,200</em>

                     Consulting Revenue                        $2,500

6 0
3 years ago
The demand curve facing a perfectly competitive firm is
ICE Princess25 [194]

Answer:

Option (E) is correct.

Explanation:

Under the perfectly competitive market conditions, there are large number of buyers and sellers and there is no restrictions on the entry and exit of the firms. Prices of the goods are determined by the market forces and the demand curve for a firm in a perfectly competitive environment varies significantly from the market demand curve. The demand curve is horizontal because all the goods in a perfectly competitive market are considered as perfect substitutes.

7 0
3 years ago
What is an apprenticeship?
san4es73 [151]
B. Formal training that combines classroom instruction with learning on the job.

That's how I've understood it when I took business in high school.
7 0
3 years ago
Read 2 more answers
Molly company sells 39,000 units at $42 per unit. Variable costs are $33.6 per unit, and fixed costs are $154,000. Determine (a)
Serga [27]
Income from operations $
7 0
3 years ago
Zhang Industries sells a product for $700 per unit. Unit sales for May were 700 and each month's unit sales are expected to grow
ratelena [41]

Answer: $14594

Explanation:

The budgeted selling expense for the manager for the month ended June 30 will be calculated thus:

The unit sales for June will be:

= [700 × (1 + 3%)]

= 700 × (1 + 0.03)

= 700 × 1.03

= 721 units

Commission will be:

= 2% × (721 × 700)

= $10,094

Therefore, the selling expenses to be reported will be:

= $10,094 + $4500

= $14594

4 0
2 years ago
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