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
OverLord2011 [107]
3 years ago
6

Danielle is a partner in and sales manager for DG Partners, a domestic business that is not a specified service trade or busines

s. During the tax year, she receives guaranteed payments of $250,000 from DG Partners for her servicesto the partnership as its sales manager. In addition, her distributive share of DG Partners' ordinary income (its only item of income or loss) was $175,000. What is Danielle's qualified business income?
Business
1 answer:
Butoxors [25]3 years ago
7 0

Answer:

Options include:

a. $-0-.

<em>b. $175,000.  is Correct</em>

c. $250,000.

d. $425,000.

e. None of the above.

Explanation:

Danielle's eligible DG Partners company revenue is $175,000. That's why her assured payments are not classified as QBI.

Qualified business income, QBI, <em>is the total amount of revenue, cost, expense, and loss products attributed to the activity. </em>

Capital losses and gains, distributions, and investment income on cash flow, reserves, and similar accounts are not taken into consideration.

Nonetheless, interest income on receivable accounts or reports is a part of QBI.

You might be interested in
People pay taxes for many reasons. Which of the following is NOT one of those reasons? A) civic duty B)moral reasons C)fear of I
Mice21 [21]
I feel the answer is B I really hoped this helped have an amazing day
6 0
3 years ago
Read 2 more answers
On March 1, it was discovered that the following errors took place in journalizing and posting transactions:
kaheart [24]

Answer:

a. Reversal entry:

Debit Rent expense $4,650

Credit Miscellaneous Expense $4,650

Correct Entry:

Debit Rent expense $4,650

Credit Cash $4,650

b. Reversal entry:

Debit Accounts payable $3,700

Credit Cash $3,700

Correct Entry

Debit Cash $3,700

Credit Accounts Receivable $3,700

Explanation:

Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.

To reverse the previously made entry, we simply debit what is credited and debit what is credited.

a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650

b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.

5 0
3 years ago
In two or three sentences, describe the labor market.
Gelneren [198K]
I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined. 
3 0
4 years ago
Read 2 more answers
A group of newly recruited employees were bullied by senior members of the facilities team. Jodie, one the team members who witn
ch4aika [34]

Answer:

B) Upward communication

Explanation:

Upward communication defines that the employees follow hierarchy from downward to upward which means a lower employee to a higher. For example Worker to supervisor and supervisor to Manager. Upward communication is the most effective source in every organization as traditional forms of communication increasingly become less common.

Therefore as per the situation, Senior members of the facilities team had intimidated a group of newly hired workers. Jodie, one of the team members who observed the event, wrote a letter detailing the harassment incident to her division manager. In this case, Jodie is engaging in upward communication.

5 0
4 years ago
List which coins are profitable and which are not.
sergeinik [125]
What are the options and I’ll tell you when you comment on mine when
6 0
3 years ago
Other questions:
  • David Wallace was the president, chairman of the board of directors, and majority shareholder of Paper Imports, Inc. Acting as p
    10·1 answer
  • Assume you plan to travel to the Southern Hemisphere after final exams. You’ve narrowed your choices down to two that you like e
    12·1 answer
  • Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractua
    11·1 answer
  • Inflation is steadily increasing price levels.<br><br> Question 4 options:<br> True<br> False
    14·1 answer
  • Although ultimate responsibility for implementing and executing strategy falls upon the shoulders of senior executives,
    8·1 answer
  • Mr. Decker invested $20,000 in cash in his business.<br> How does the company record the investment?
    11·1 answer
  • Suppose the government wants to help the coffee industry, where many producers earn relatively little. It is considering two pos
    7·1 answer
  • Explain one guideline that will help a speaker use or create an effective presentational aid. Provide examples.
    13·1 answer
  • Which of the following is an example of crowding out? Question 13 options: A decrease in the rate of growth of the money supply
    10·1 answer
  • One year ago, you invested $3,250.00. Today, it is worth $4,000.00. What rate of interest did you earn
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!