1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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).

You might be interested in
What skills + attributes are keys to success for business leaders?
Jobisdone [24]

Things like enthusiasm and knowledge

8 0
3 years ago
Abc company is hesitant about entering ukraine, because the country has been experiencing social unrest in recent years. Based o
AysviL [449]

The answer is<u> "political risk".</u>


Political risk is among the most critical hazard factors confronting international investors. In many rising and frontier markets, the political circumstance is altogether less steady than the United States with the potential for across the board extortion and defilement.  

Political risks  are those related with changes that jump out at a nation's approaches administering organizations, and additionally outside elements that could influence organizations.

7 0
3 years ago
General motors’ stand against apartheid in south africa was based upon what came to be known as _____. the human rights moveme
vovikov84 [41]
The answer is Sullivan Principles. General Motors embraced what came to be named as Sullivan principles. This is name after Leon Sullivan which is also a member of GM's Board of Directors. Sullivan contended that it was morally right for GM to function in South Africa so long as two circumstances were satisfied. First, the company should not follow the apartheid laws in its own South African operations. Second, the firm should do all within its power to endorse the elimination of apartheid laws.
5 0
3 years ago
Kenyon Co. uses the perpetual inventory method. Kenyon purchased 400 units of inventory that cost $6.00 each. At a later date th
olga nikolaevna [1]

Answer:$5600

Explanation:

The FIFO inventory system is an inventory system where the inventory purchased first is the first to be sold.

If 800 units are sold, the inventory sold would be calculated as:

$6 × 400 = $2,400

$8 × 400 = $3200

=$5,600

4 0
3 years ago
For a binomial experiment with r successes out of n trials, what value do we use as a point estimate for the probability of succ
trapecia [35]

Answer: \dfrac{r}{n}

Explanation:

If r is the number of successes out of n trials , then the sample proportion of success = \hat{p}=\dfrac{r}{n}

For binomial experiment , if the population probability of success p on a single trial is not given , then the best point estimate for probability of success p on a single trial is the sample proportion of successes.

i.e. a point estimate for the probability of success p on a single trial :

p=\hat{p}=\dfrac{r}{n}

Hence, a point estimate for the probability of success p on a single trial = \dfrac{r}{n}

4 0
3 years ago
Other questions:
  • Equipment, beginning of year $ 340,000 Equipment, end of year 420,000 Accumulated depreciation, beginning of year 190,000 Accumu
    9·1 answer
  • The Joint Task Force (JTF) commander cannot dictate cooperation among other governmental agencies, intergovernmental organizatio
    9·1 answer
  • On july 9, coronado company sells goods on credit to wildhorse company for $4600, terms 2/10, n/60. coronado receives payment on
    8·1 answer
  • Data concerning Pony Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 200 100 % Variable exp
    6·1 answer
  • The Hylands Hotels are liquidating their partnership. Before selling the assets and paying liabilities, the capital balances for
    13·1 answer
  • 32. How many significant accounting policies are listed under its Summary of Significant Accounting Policies
    11·1 answer
  • 5. Based on the data in the table below, what is the probability that a driver aged
    10·2 answers
  • In your opinion, what is the riskiest stage of new product development?
    11·2 answers
  • PLEASE ANSWER AS MANY AS POSSIBLE!
    7·2 answers
  • Other things the same, an increase in velocity means that a. the rate at which money changes hands falls, so the price level ris
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!