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jarptica [38.1K]
3 years ago
7

Ted works as a painter for local businesses on weekends, and he often provides services in exchange for property. In 2018, Ted p

rovided painting services in exchange for $1,275 of car repair services, $3,570 of groceries, and a certificate of deposit (CD) for $4,050. The (CD) matures next year with interest. Finally, Ted received a gift card that can only be applied for $850 of clothing at a local mall. Ted has only applied the gift card to purchase $100 of clothing. Compute Ted's 2018 gross income assuming that he uses the cash basis of accounting.
Business
1 answer:
nalin [4]3 years ago
7 0

Answer:

$4.945

Explanation:

According with the information, you should sum all the numbers mentioned, with the exception of the $.4050 of the (CD) and make another operation. The reason is the methodology of cash basis of accounting, with this type of methodology where you suppose that every income that you receive independently must be available immediately, in this case the $1,275 of car repair services, $3,570 of groceries, and the $100 were resources that you already used, it means that you make effective gross income of  $4.945. Remain the $750 of the clothing that you still haven't used and the $4.050 of the certificate of deposit that will be effective (cash) the next year.

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Answer:A) Research about aptitude testing.

Explanation: The United States of America through its Department of Education uses Subparts to ensure protection of children and minors used or engaged in research by researchers, it gives certain exemptions especially as it is seen in SubpartD which gives exemptions for the use of children in research that concerns education tests such as RESEARCH ABOUT APTITUDE TESTING.

6 0
3 years ago
Smith Corporation makes and sells a single product called a Pod. Each Pod requires 1.7 direct labor-hours at $9.90 per direct la
Akimi4 [234]

Answer:

$375,308

Explanation:

In this question , we are asked to calculate the budgeted direct labor costs incurred in the month of June.

Firstly, we calculate the ratio of the direct labor cost per pod.

Direct labor cost/Pod = (1.7hours*$9.90/hour)=$16.83

Now, we proceed to calculate the budgeted direct labor cost

The budgeted direct labor cost can be calculated by multiplying the number of pods by direct labor cost/pod

From the question, we identify that the number of pods is 22,300

The budgeted direct labor cost = 16.83 * 22,300 = $375,309

5 0
3 years ago
Benny is self-employed. he’s experienced a bit of success over the last few years and is now ready to purchase a home. he’s meet
vovangra [49]

Benny is self-employed. he’s experienced a bit of success over the last few years and is now ready to purchase a home. he’s meeting with a lender later today . Benny can expect to be asked for additional documentation to verify his income.

Self-employment is the state of being able to work for yourself rather than for your employer. Tax authorities generally consider an individual to be self-employed if they choose to be recognized as self-employed or if the individual has income that is taxable.

Self-employed means doing business as a partner or owner rather than working for your employer. According to IRS guidance (page 2), a person who “trades or does business as a sole proprietorship or independent contractor” is self-employed.

Learn more about self-employed here: brainly.com/question/20750656

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2 years ago
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4 0
2 years ago
Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a(n) _______
ohaa [14]

Answer:

Depreciation:devaluation.

Explanation:

Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a depreciation. This could be as a result of factors such as government monetary policies, varying interest rates, aversion of risks by investors, inflation etc.

On the other hand, under a fixed exchange rate system a decrease in the official value of a currency is called a devaluation. This is mainly due to the government monetary policy, so as to shore up the export of a country and to improve foreign trade.

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