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Nutka1998 [239]
2 years ago
14

Jenna Parker owns and manages her single member LLC which provides a wide variety of financial services to her clients. She is m

arried and will file a joint tax return with her spouse, Paul. Her LLC reports $300,000 of net income, W-2 wages of $120,000, and assets with an unadjusted basis of $75,000. Their taxable income before the QBI deduction is $285.000 (this is also their modified taxable income). What is their QBI deduction for 2019?
a. $-0-
b. $57,000.
c. $60,000.
d. $70,000.
Business
1 answer:
Julli [10]2 years ago
5 0

Answer:

Option ( b ) $57,000

Explanation:

Data provided in the question:

Net income = $300,000

W-2 wages = $120,000

Assets with unadjusted basis = $75,000

Taxable income before the QBI deduction = $285,000

Now,

The QBI deduction for 2019 will be given as 20% of the qualified income i.e the taxable income before the QBI deduction

Therefore,

The QBI deduction for 2019 = 20% of $285,000

= 0.20 × $285,000

= $57,000

Hence,

Option ( b ) $57,000

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Answer: Option C

Explanation:

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B. Transactions involving liabilities are recorded on credit side of the accounts.

C. Revenues are recorded on credit side of the transactions thus revenues increased when accounts are credited.

D. Transactions involving purchase of assets are recorded on debit side thus debit transactions increases debits.

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Beta Company expects to incur overhead costs of $20,000 per month and direct production costs of $125 per unit. The estimated pr
mina [271]

Answer:

$415

Explanation:

For computing the sales per unit first we have to determine the total sales value which is shown below:

Direct Production costs (1,000 units × $125)   $125,000

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Total Costs for the year              $365,000

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Total Sales Value desired = Costs + Profit $415,000

Now

Sales price per unit is

= $415,000 ÷ 1,000 units

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This is the answer but the same is not provided

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