Answer:
"D"
Explanation:
Deductibles from AGI can also be referred to as expenses or cost in the course of preparing income statement . These are the expenses incurred in the course of business transaction that are qualified to be deducted from the gross income to arrive at the Adjusted Gross income . The $525 for tools and supplies qualifies for this purpose as it is is part of the cost for the business.
Itemized deduction are the expenses that tax payers can claim from federal income tax in order to reduce their tax liability. These expenses are listed by the regulatory tax rules in order to control tax evasion acts. It covers the health insurance premium of $3,600 paid by Christine.
Answer:
•Jayaram is a Limited partner
•Jeevan is an active partner
Explanation:
•A limited partner also known as a silent partner is a partner who does not partake in the day to day running of the business. He only provides capital to the running of the business hence his liability is limited to the amount invested in the business.
Asides providing capital and not being active in the management of the business activity, he can be of help by providing business contact that would bring progress to the business and also give business advice where and when necessary.
• An active partner is a partner who provides capital and also oversees the daily activities of the business. He is a very important partner because of his involvement in the business affairs hence has more liability unlike the limited partner. An active partner's action can make or mar the business because of the influence he has over the business.
Answer:
the operating cash flow is $365
Explanation:
the computation of the operating cash flow is shown below:
operating cash flow is
= Net income + depreciation expense
= $245 + $120
= $365
hence, the operating cash flow is $365
We simply added the net income and the depreciation expense to determine the operating cash flow
Tell Alix to make smaller pretezls. They will taste better, but use less ingredients, therefore keeping the cost lower than it is now. Hope this helps!
Answer:
Hope they got this right this was a few months ago
Explanation: