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exis [7]
3 years ago
6

Ellen supports her family as a self-employed attorney. She reports $90,000 of income on her Schedule C and pays $8,000 for healt

h insurance for her family, $2,500 for dental insurance, $4,000 for health insurance for her 23-year-old daughter who is no longer a dependent, and $3,000 for disability insurance for herself. What is Ellen's self-employed health insurance deduction
Business
1 answer:
stepladder [879]3 years ago
3 0

Answer:

$14500

Health insurance+dental+health insurance for daughter

Disability can't be deducted

Explanation:

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On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 74,000 shares authori
uysha [10]

Answer:

1,                            Journal entries

Date    Account and explanation         Debi$       Credit$

          Treasury stock (5200*27)          140,400

           Cash                                                              140,400

           (To record purchase treasury stock)

            Cash (1,050*33)                           34,650  

            Paid in capital from sale of treasury stock    6,300

            Treasury stock (1,050*27)                               28,350

             (To record sale of treasury stock)  

              Cash (4,150*22)                             91,300

              Paid in capital from sale of            6,300

              treasury stock  

              Retained earnings                         14,450

              Treasury stock (4,150*27)                                112,050

              (To record sale of treasury stock)  

2.  Revised equity section

<u>Contributed capital</u>

Common Stock                             740,000

Paid in capital in excess of           <u>226,000</u>

par value-Common Stock

Total paid in capital                        966,000

Retained earnings                         <u> 880,000</u>

Total                                                1,846,000

Less: Treasury stock                      <u>(140,400)</u>

Total Stockholder's equity            $<u>1,705,600</u>

5 0
3 years ago
Jose is an up and coming entrepreneur working on solidifying his business plans. After meeting with his mentor, he learns that h
dybincka [34]

Answer:

This is important for Jose because as a business owner you want to know what type of business you are running

Explanation:

hope this helps :D

4 0
2 years ago
A group of cotton growers in North Georgia and North Alabama pooled their resources to build a cotton gin and storage area for t
GaryK [48]

Answer:

The correct answer is letter "B": Joint venture.

Explanation:

In a Joint Venture, two or more businesses agree to contribute to capital and resources for a common project. Usually, developers, manufacturers, and service providers agree to form a joint venture. If successful, those parties split the profit based on the value of their respective contribution to the joint venture.

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3 years ago
Prepare the journal entries to record these transactions on blossom company's books using a periodic inventory system. (if no en
Mariana [72]

Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.

Transaction A

Purchases – Dr 860500

Accounts payable 860500

Transaction B

Accounts payable - Dr $111,600

Purchase returns $111,600

Transaction C

Accounts payable - Dr 748900

Discount received 14,978

Cash 733,922

6 0
3 years ago
What is transactions amount​
Alina [70]
Do you got a picture or something
4 0
3 years ago
Read 2 more answers
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