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klemol [59]
3 years ago
8

A sole proprietorship that began business's May 1, 2018, incurred $9000 of startup expenses. If the business elects to report th

e maximum of startup costs as a current expense, what is the amortization amount reported as an "other expense" on schedule C?
A. $88

B. $134

C. $178

D. $266
Business
1 answer:
labwork [276]3 years ago
3 0

Answer:

Option (C) $178

Explanation:

Data provided in the question:

Startup expense incurred by the business = $9,000

Now,

The start-up costs and organizational expenses are deducted over a time period of 180 months

also,

$5,000 can be deducted in the first year by the startup expense.

Therefore,

Amortization amount reported as a "other expense" on Schedule C per month

= [ Startup expense - $5,000 ] ÷ 180

= [ $9,000 - $5,000 ] ÷180 = $22.22

for the year = $22.22 × Number of months left in the year from May

= $22.22 × 8

= 177.78 ≈ $178

Hence,

Option (C) $178

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The statement of owner's equity begins with the beginning balance followed by a.adding net income less withdrawals b.adding inve
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D. Adding investments plus net income less withdrawals.

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The Digital Electronic Quotation System (DEQS) Corporation pays no cash dividends currently and is not expected to for the next
malfutka [58]

Answer:

a) $94.88

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Explanation:

year                      dividend              EPS

0                              0                       $10

1                               0                       $12

2                              0                       $14.40

3                              0                       $17.28

4                              0                       $20.736

5                              0                       $24.8832

6                              $11.45               $28.61568

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intrinsic price in 1 year = $190.83 / 1.15⁴ = $109.11

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