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siniylev [52]
4 years ago
15

Dr. Merry, a self-employed dentist, incurred the following expenses: Investment expenses $ 700 Custodial fees related to Dr. Mer

ry’s Keogh plan 40 Work uniforms for Dr. Merry and Dr. Merry’s employees 320 Subscriptions for medical periodicals used in the waiting room 110 Dental education seminar 1,300. What is the amount of expenses the doctor can deduct as business expenses on Schedule C, Profit or Loss from Business?
A) $2,430.
B) $1,770.
C) $1,620.
D) $1,730.
Business
1 answer:
uranmaximum [27]4 years ago
5 0
The answer is B. I think
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On January 1, 2020, Jacobs Company sells land financed through a $16,000 note, issued by Andress Company. The note is a $16,000,
Vlad [161]

Answer:

Note: <em>See attached picture for journal entry schedule for the question</em>

<em />

Fair Value of Land = -PV(I, N, PMT, FV, Type)

Fair Value of Land = -PV(8%, 2, 16000*4%, 16000, 0)

Fair Value of Land = -PV(8%,2,640,16000,0)

Fair Value of Land = $14,859

                                Journal Entry

Date        Account tile and explanation        Debit       Credit    

Jan. 1       Notes Receivable                           $16,000

                       To, Discount on Notes                             $1,141

                       To, Land                                                    $14,859

Dec. 31    Cash                                                  $640

                Discount on Notes                           $549  

                       To, Interest Revenue (14859*8%)             $1,189

Dec. 31     Cash                                                  $640

                 Discount on Notes                           $593

                        To, Interest Revenue (14859+549)*8%    $1,233

Dec. 31      Cash                                                  $16,000

                         To, Notes Receivable                               $16,000

3 0
3 years ago
The emergency room fee related to an injury incurred by the Blairs' adult son, Eric, during a visit to their home. The Blairs gr
balandron [24]

The amount of medical expenses that the Blairs can deduct as an itemized deduction for 2022 will be $900.

<h3>How to calculate the amount?</h3>

From the given information, the total expenses was $3150 and there is an exceed of 7.5% if the adjusted gross income.

Therefore, the amount that will be deducted will be:

= $3150 - $2250

= $900

In conclusion, the correct option is $900.

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7 0
2 years ago
A manger is described by subordinates as someone who inspires hard work by treating people kindly and giving employees individua
Levart [38]

Answer:

Referent

Explanation:

The referent power refers to the power in which the employees capacity, capability, skills and knowledge, hard work being liked by the other employees. Ths could be gained from the leadership skills and personality

So according to the given question since the manager described by subordinates through inspiring hard work by giving them attention and praise

This represents the referent power

4 0
3 years ago
Why do internal economies of scale lead to imperfectly competitive​ industries? A. Patent laws prevent firms from entering the
tia_tia [17]

Internal economies of scale lead to imperfectly competitive industries because large firms have cost advantages over small firms, so the correct answer is B.

Economy of scale is the economic advantage that is realized by operating on a larger scale. In general, the average cost per unit of output decreases with increasing scale because fixed costs are spread over more units of output. Operational efficiency is also often greater with increasing scale, which in turn leads to lower variable costs.

When an industry is characterized by economies of scale, it can lead to a monopoly or oligopoly. Only large companies can then produce economically, which means that the barriers to entry for new market players are high.

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4 0
3 years ago
On May 1, 2020, Vaughn Inc. entered into a contract to deliver one of its specialty mowers to Kickapoo Landscaping Co. The contr
Alchen [17]

Answer:

May 1, 2020 - No Entry

Explanation:

IFRS 15 requires an entity to recognise revenue <em>when</em> entity transfers the goods or services to the customer.

Transfer of the mower happens on May 31, 2020, this is the date at which Revenue is recognised.

The cash is also paid on May 15, 2020, according the <em>accruals concept</em>, no entry must be done on May 1,2020. Only when the payment occurs should there be a record in Vaughn books.

7 0
3 years ago
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