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8090 [49]
3 years ago
10

Georgie has gross income of $5,000 from an activity that has been deemed to be a hobby by the IRS. Her expenses related to the a

ctivity include property taxes of $3,000, operating expenses of $1,500, and depreciation expense of $800. What would be Georgie's deductible expenses for the year and where would they be taken
Business
1 answer:
Elina [12.6K]3 years ago
8 0

Answer:

$5,000 Schedule A (Itemized Deductions)

Explanation:

Solution

We recall that:

George gas a gross income of =$5000

Property taxes =$3000

Operating expenses of =$1500

Deprecation expense of =$800

Now

Normally As per IRS, hobby expenses are normally subtracted up to the hobby income . hobby is pursued as enjoyment and not for making profits hence can not be termed as Profit and loss from business

Therefore George deductible expense for the year is $5,000 it would be taken from Schedule A (Itemized Deductions).

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A country withholds funding from any college or university that does not accept women at the same rate as men. This action refle
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The action that is reflected above shows the equity among sexes. This country believes that whatever education that its male constituents should also be received by the females. That is because women should also be given the privilege to learn.
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If at a price of $24, Octavia sells 36 home-grown orchids and at $30 she sells 24 home-grown orchids. What is the change in quan
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Answer:

12

Explanation:

At the price of $24, the demand is 36

At the price of $30, the demand is 24

change in quantity demanded

= 36-24

= 12

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3 years ago
When administering a transfusion of packed red blood cells, it is important to?
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When administering a transfusion of packed red blood cells, it is important to make sure that the entire pack is being transfused within four hours. It should be within this time range in order to avoid the cells to deteriorate and prevent bacterial growth.
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3 years ago
Which of the following is a characteristic of a certificate of deposit?
valentinak56 [21]

Answer:

C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

<u>Multiple- choices</u>

A).  You have to earn at least $100,000 in salary to be allowed to buy a CD

B).  It is just a different name for a savings account

C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

D). Only large banks offer them

Explanation:

Banks and other financial institution offer certificates of deposit (CD) saving account to customers who intend to limit the number of withdraws. This type of savings account pays a higher interest rate than the regular savings account. A customer wishing to open this account agrees with the bank on the duration that they want to save the money.  Withdrawals can only be made after the agreed period lapses. Should the customer demand for their money before the end of the agreed period,  they may get penalized by the banks.

8 0
2 years ago
The following labor standards have been established for a particular product:
andrey2020 [161]

Answer:

Results are below.

Explanation:

<u>To calculate the direct labor rate and efficiency variance, we need to use the following formulas:</u>

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (17.7 - 17.8)*7,600

Direct labor rate variance= $760 unfavorable

Actual rate= 135,280/7,600= $17.8

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4*1,800 - 7,600)*17.7

Direct labor time (efficiency) variance= $7,080 unfavorable

4 0
3 years ago
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