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olya-2409 [2.1K]
3 years ago
12

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the

following income and expenses. You may assume that Betty will owe $2,614 in self-employment tax on her salon income, with $1,307 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016. Interest income (not municipal bond) $ 14,665 Salon sales and revenue 88,560 Salaries paid to beauticians 46,440 Beauty salon supplies 23,620 Alimony paid to her ex-husband, Rocky 7,100 Rental revenue from apartment building 35,180 Depreciation on apartment building 14,000 Real estate taxes paid on apartment building 11,980 Real estate taxes paid on personal residence 6,879 Contributions to charity 4,963 a. Determine Betty's AGI. (Amounts to be deducted should be indicated by a minus sign.)
Business
1 answer:
nikitadnepr [17]3 years ago
6 0

Answer:

Betty's AGI $33,558

Explanation:

Betty's AGI:

Revenue from salon $88,560

Salaries paid to beauticians ($46,440)

Nail salon supplies ($23,620)

Salon's operating income $18,500

                   +

Interest income $14,665

                   +

Rental revenue from apartment building $35,180

Depreciation on apartment building ($14,400)

Real estate taxes paid on apartment building ($11,980)

Rental income $8,800

                    -

Alimony paid to her husband $7,100

                    -

Self-employment tax on salon income $1,307

                   =

Betty's AGI $33,558

Real estate taxes paid on Betty's house and charitable contributions are itemized deductions (below the line deductions).

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a construction manager just starting in private practice needs a van to carry crew and equipment. she can lease a used van for $
Vanyuwa [196]

The most she should pay for uniform annual maintenance to make it worthwhile to buy the van instead of leasing it, if her Marr is 20% is $1,379.5.

Annual lease rent= $3,596

Cost of used van= $5,721

Salvage value= $1,052

Net cost to manager= 5721-1052= $4,669

PVFA, (20%) =2.1065

Equivalent annual cost of the equipment= 4669/2.1065= $2,216.5

Therefore, the most the manager should pay for Maintenace to make it worthwhile to buy the machine instead of leasing it is = 3596-2216.5= $1,379.5

Construction managers, frequently referred to as well-known contractors or undertaking managers, coordinate and supervise a number of projects, which includes constructing public, residential, commercial, and business systems in addition to roads and bridges.

Construction management calls for a variety of duty and tough work: You may be in fee of a creation undertaking from starting to end. In order to get the process done, there are vital features that a creation supervisor have to possess. According to the BLS, those include Analytical skills.

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6 0
1 year ago
The market for. pizza is characterized by a downward-sloping demand curve and an upward-sloping supply curve. a. Draw the compet
Klio2033 [76]

The market for the pizza has a downward sloping demand curve which means that with the increase in the price of the pizza, the demand of the pizza will decrease but it's supply will increase.

<u>Explanation:</u>

Downward slanting demand curve implies a judicious purchaser will request to a greater degree a product when its price falls. A portion of the explanations behind. the marvel would be: Income Effect : When cost of an item falls, shopper's genuine salary rises that is he would now be able to buy a greater amount of the ware with a similar pay.

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7 0
3 years ago
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,700 of dir
Rina8888 [55]

Answer:

$19,300

Explanation:

Calculation to determine the amount of job costs added to Work in Process Inventory during October

Using this formula

October Job costs=Raw material+Direct labour+Overhead

Let plug in the formula

October Job costs=$2,200+$5,700+($5,700*2)

October Job costs=$2,200+$5,700+$11,400

October Job costs=$19,300

Therefore the amount of job costs added to Work in Process Inventory during October is $19,300

3 0
2 years ago
6. Type of insurance that protects a company in case an employee steals from a
Nataly_w [17]

Answer:

A fidelity bond

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5 0
3 years ago
The implementation of an effective internal control system eliminates the possibility of fraud. This statement is:.
Nonamiya [84]

Answer:

False

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No matter what a company does the possibility of fraud cannot be avoided.

3 0
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