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velikii [3]
3 years ago
11

Smith operates a roof repair business. This year Smith's business generated cash receipts of $32,000 and Smith made the followin

g expenditures associated with his business: Advertising $ 500 Car and truck expenses 1,360 Depreciation 3,200 Employee compensation 5,000 Education 1,000 The education expense was for a two-week, nighttime course in business management. Smith believes the expenditure should qualify as an ordinary and necessary business expense. Smith is on the cash method and calendar year. What net income should Smith report from his business
Business
1 answer:
rodikova [14]3 years ago
6 0

Answer:

Net income = $20,940

Explanation:

Answer 1.

   

Accounts                                                                                                                

Cash Receipts                             32,000  

Expenses    

Advertising                    500    

Depreciation                 3,200    

Car & Truck Expense       1,360    

Employee Compensation  5,000    

Education                    1,000                          11,060  

Net Income                                               20,940  

   

Therefore, the net income that Smith should report from his business after considering all the cash receipts and all the expenditures associated with his business is $20,940. All the expenses are to be deducted from income.

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Answer:

34 % of the people must already planning to vote for Wanda

Explanation:

Let there are 100 people in the town

It is given that Wanda will convince 25 % of people vote for her

Now let there are x people who are planning to vote Wanda

Then 100-x people are not planning to vote Wanda

She have to convince 0.25 ( 100-x) people to get 50% of the vote and to win

So 0.25(100-x)+x=50

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So 34 % of the people must already planning to vote for Wanda

8 0
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Drag the tiles to the correct boxes to complete the pairs. For each scenario match it to the correct factor describing the purpo
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The purpose for holding money in economic in classified into:

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<h3>The Drop-downs includes:</h3>
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  • Andy decided to hold his money in cash, as he did not earn sufficient money as income from interest. - Speculative motive

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Which of the following would the U.S. Bureau of Labor Statistics define as a discouraged worker?
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Answer:

d) Mary, who was laid off last year and who was looking for a full-time job until last month

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In the United States, a discouraged worker is defined as a person not in the labor force who wants and is available for a job and who has looked for work sometime in the past 12 months (or since the end of his or her last job if a job was held within the past 12 months), but who is not currently looking because of real or perceived poor employment prospects.

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Which of the following government offices help individuals fund their college education?
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Read this scenario, and then answer the question that follows. richard is excited to start his trucking business. after taking o
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Some potential economic consequences that Richard did not consider before making his decision are:

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<h3>What are economic considerations?</h3>

These are the factors that will affect the profitability and viability of a business.

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