D. 16,110
39,000+9,250=48,250
48,250-(850+290)=47,110
47,110-31,000=16,110
Answer:
D. Star will be liable on the contract only if it adopts the contract.
Explanation:
<span> B. When used, both take money directly out of a bank account.</span>
Answer:
25 Days
Explanation:
Average Account receivables:
= (Accounts receivables, beginning of year + Account receivables, end of year) ÷ 2
= (45,000 + 35,000) ÷ 2
= 40,000
Account Receivables Turnover = Net Sales on Account ÷ Average Account Receivables
Account Receivables Turnover = 584,000 ÷ 40,000
= 14.6 times
No. of Days Sales in Accounts Receivables:
= No. of Days in a year ÷ Account Receivables Turnover
= 365 ÷ 14.6
= 25 Days
Answer:
Include all income; deduct no expenses
Explanation:
The Tax Cuts and Jobs Act changed the way hobby expenses and income is taxed. Since 2019, any income generated by a hobby is taxed as ordinary income (not subject to self employment taxes) but any expenses related to your hobbies are not deductible any more. Until 2018, you could deduct hobby expenses as long as they were above 2% of your gross income and they didn't hobby income.
