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vfiekz [6]
3 years ago
5

Patrick has a written independent contractor agreement with his broker Tami. Last year, about 25% of his income came from sales

commissions. The other 75% came from an hourly wage paid by Tami. For income tax purposes, the IRS would probably classify Patrick as:
A) An independent contractorB) A self-employed personC) An employeeD) A real estate assistant
Business
2 answers:
melomori [17]3 years ago
7 0

Answer:

The correct answer here is C) an employee .

Explanation:

Even though Patrick has written independent contract agreement with his broker, he will be considered an employee not independent contractor because Patrick is earning 75% of his total income from his broker on a hourly wage and that is paid to him on normal pay date , while the independent contractors are paid when the accounts payable receives the invoice, usually independent contractors are paid after the completion of task or at the end of a period.

marin [14]3 years ago
7 0

Answer:

A) An independent contractor

Explanation:

The IRS uses the following 3 criteria to determine if a worker is an employee or not:

  1. Behavioral: does the employer control what the worker does? if +, employee
  2. Financial: does the employer have control over how and what amount a worker is paid? if +, employee
  3. Type of Relationship: Does the worker have any written contract or any does he/she receive any type of benefits? Does the relationship between the employer and the worker permanent? If +, employee

Apparently Patrick would fit quite well into the criteria of being an employee, but since he has a written agreement that states that he is an independent contractor, then that is how he should be classified. Also, it must be considered how Patrick pays his taxes, but we were not given that information.

Some states use a more strict parameter to determine if a worker is an employee, but that is not the case here.

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Your portfolio has a beta of 1.75. The portfolio consists of 17 percent U.S. Treasury bills, 31 percent Stock A, and 52 percent
earnstyle [38]

Answer: 2.77

Explanation:

Portfolio Beta is the Weighted Average Beta of all the individual stocks in a portfolio.

Seeing as the other betas and proportions are given, we can plug this into a formula to find out the beta of stock B.

In case you do not see a beta for the U.S. Treasury bills that's fine because beta is a measure of risk and U.S. Treasury bills have NONE so that means that their better is 0.

And if you are wondering what the beta of stock A is, the answer is 1 because that is the beta of the overall market by definition.

Creating a formula therefore we have,

1.75 = 0.17(0) + 0.31(1) + 0.52x

0.52x = 1.75 - 0.31

0.52x = 1.44

x = 2.76923076923

x = 2.77 (2dp)

2.77 is the beta of Stock B.

5 0
3 years ago
Read 2 more answers
As a sole proprietor, what are the ways in which you can raise money to establish your business, and make it grow?
kolezko [41]

Answer:

Take out a small business loan.

Explanation:

A small loan is a way, based on your credit, to establish a way to raise money.

3 0
3 years ago
Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the clo
Sergeeva-Olga [200]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The journal entries are shown below:

a. No journal entry required

b. Miscellaneous expense A/c Dr $16

        To Cash A/c                                      $16

(Being service charges is paid)

c.  Cash A/c Dr $9                      ($476 - $467)

           To Utilities expense A/c $9

(Being correction is recorded)

d. No journal entry required

The preparation of the  bank reconciliation statement is presented in the spreadsheet. Kindly find the attachment below:  

8 0
3 years ago
Which of the following is generally used by companies with fewer than 50 employees?
marshall27 [118]

Answer:

D

Explanation:

5 0
3 years ago
Jubilee's Bakery is budgeting cash for 2017. The cash balance at December 31, 2016, was $6,000. Jubilee's Bakery budgets 2017 ca
marusya05 [52]

Answer: B. There is $19,000 available for additional investments.

Explanation:

Cash Receipts both Estimated and available

= Beginning balance + budget receipts

= 6,000 + 81,000

= $87,000

Cash payments

= 44,000 + 34,000 + 15,000

= $93,000

Additional financing required = Cash receipts - Cash payment - minimum cash balance

= 87,000 - 93,000 - 13,000

= -$19,000

4 0
3 years ago
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