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
lyudmila [28]
3 years ago
9

Sarah owns and operates a retail sporting goods business as a sole proprietor. Her store is located on the ground floor of a two

-story building that she owns. Based on the following information regarding 2017, compute her net self-employment income (for SE tax purposes) to be put onto Schedule C for that year.
Gross profit from sporting goods business = $100,000
Rental income from upper level (45%) of building = 20,000
Building depreciation expense = 10,000
Utilities for ground floor (Tenant pays own utilities.) = 4,500
Depreciation on vehicles used in business = 3,000
Gain on sale of van used 100% in business = 2,000
Contributions to her Keogh retirement plan = 5,500
Sarah's health insurance premiums = 4,000
Mortgage interest on building = 10,000
Other expenses of running her sporting goods business = 11,500
A. $70,000
B. $64,500
C. $66,000
D. $73,500
Business
2 answers:
Soloha48 [4]3 years ago
7 0

Answer:

A. $70,000

Explanation:

From the information given, we discover that

Gross profit from sporting goods business = $100,000

Subtract: other Expenses = 11500

Subtract: Building depreciation expenses (10000 × 55%) = 5500

Subtract: Mortgage Interest (10000 × 55%) = 5500

Subtract: Depreciation on vehicle used for business = 3000

Less: Utilities for Ground Floor = 4500

Net Self employment Income = $70,000

Note that 55% is used for ground floor, it is calculated as 100 - 45% used by tenant, therefore, for business purpose 55% will be taken.

Ierofanga [76]3 years ago
6 0

Answer:

Answer is A.$70,000

Refer below.

Explanation:

The final value is $70,000.

You might be interested in
Which of the following help to build credit?
solniwko [45]

Answer:

Good rental history and employment stability are two things that help to bulid a good credit score.

6 0
2 years ago
Herb Kelleher, founder and long-time chief executive officer of Southwest Airlines, was known for inspiring and motivating his e
marin [14]

Answer:

Interpersonal Skills

Explanation:

Interpersonal skill is the skill that connects one person with other due to the employee's behavior which helps him to get along with others. In other words, when we talk about interpersonal skills we are actually talking about the excellent way of interacting with people that results in better relation, respect, better job environment, motivation of employees, etc.

In this case, Herb Kelleher, the CEO has better relations with his company employees as he interact with the people well which is interpersonal skills.

8 0
3 years ago
A company recently paid out a $4 per share dividend on their stock. Dividends are projected to grow at a constant rate of 5% int
mars1129 [50]

Answer:

The holding period return is 8%

Explanation:

In this question we need to find the holding period return for the stock, and for that we would need to know what is the stocks current price, what would the stocks price be in one year and how much dividend it will pay during the year. Their last dividend paid was $4 and their dividend is expected to grow at 5% in the future so the dividend paid in the current year would be 4*1.05= 4.2.

To find the current price of the stock we will use the DDM formula

DDM= D*(1+G)/R-G

(4*1.05)/(0.08-0.05)

Price = 140

Now we need to know what the stocks price would be in one year. For that we need to know the previous dividend which is 4.20, the growth rate which is 5% and the required rate of return which is 8%

DDM= (D*(1+G)/R-G

4.2*1.05/0.08-0.05

Price = 147

So now we know the current price, current year dividend and year end price we can calculate the holding period return.

Holding period return = (Dividend +(End of period price-Initial Price))/Initial Price

Dividend = 4.20

End Period Price = 147

Initial Price = 140

Holding period return = 4.20+(147-140)/140

=11.20/140

=0.08

=8%

5 0
3 years ago
HELP ASAP PLZ
Leviafan [203]

Answer:

Explanation:

creative media Peter uses blogs and social interaction pages on to showcase his advertisements for young professionals.

creative execution Peter manages his team as they use the latest graphics advancements to enhance their advertisement while keeping it on budget.

advertising strategy Peter has a meeting with his team to set the objectives of their next product campaign.

creative idea Peter and his team come up with an advertisement showing the secure locking system of a car door, which is targeted to appeal to the customer’s need for safety.

8 0
3 years ago
Which of the following is an example of an investing activity?
kkurt [141]

Answer:

Purchase of machinery

Explanation:

Once you have purchased for a machinery, you will earn the interst from the The profit the machine brings to you.

5 0
2 years ago
Other questions:
  • Legal action against a company may likely NOT be incurred when ________. a. employees incur injuries during training conducted b
    9·1 answer
  • A company bills customers for services rendered on account. Which of the following is part of recording this transaction?
    11·1 answer
  • If giovanni and jorge both specialize in the production of their respective low-cost goods, then the total production of corn eq
    7·1 answer
  • Which of the following statements about the Allowance for Doubtful Accounts is correct?
    15·1 answer
  • The manager of ProduceBuddy is interested in asking consumers what they think about the store's new layout and expanded produce
    8·1 answer
  • You have invested $1,000 in an account that promises APY of 3 percent per year. Assuming you leave the original investment and a
    15·1 answer
  • On September 1, Year 1 Western Company loaned $36,000 cash to Eastern Company. The one-year note carried a 5% rate of interest.
    10·1 answer
  • Jack is conducting a risk assessment for his firm and is evaluating the risks associated with a flood inundating the firm’s data
    5·1 answer
  • Explain the purposes for which of control accounts are<br>prepared in a business organization ​
    7·1 answer
  • Compute the payback period for a project that requires an initial outlay of $248,607 that is expected to generate $40,000 per ye
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!