Answer:
The correct answer is letter "A": Job-related expenses are deductions for AGI.
Explanation:
There are several tax benefits self-employed have but, in general, job-related expenses can be deducted from their <em>Adjusted Gross Income</em> (AGI). You can deduct half of your self-employed tax paid in Medicare and Social Security from your income. Essentially, the IRS treats the employer's share of the employment tax as a business expense and allows for an appropriate deduction.
Home office deductions may be complex. The cost of any work base used regularly and exclusively for business can also be the cost of the home office. This includes expenses on utilities, too.
Answer:
Income and bills
Explanation:
Probably how it will fit in with they’re monthly bills
Answer:
The journal entry to record the purchase of the laundry supplies
June 2, laundry supplies purchased
Dr Laundry supplies inventory 10,030
Cr Cash or accounts payable 10,030
June 30, adjusting entry to record laundry expenses
Dr Laundry expenses 8,260
Cr Laundry supplies inventory 8,260
The initial inventory of laundry supplies is $10,030 and if at the end of the month only $1,770 worth of supplies are left, it means that $8,260 (= $10,030 - $1,770) were used.
Answer:
Certificate of deposite
Explanation:
I just took the test and it was right
Answer:
Material Quantity Variance=$ 60601.32 Unfavorable
Explanation:
Pato Company
Standard Quantity = 2 strips per pair * 4328 units = 8656 strips
Actual number strips used : 18790/ 4328= 4.34 strips used per pair
Actual price paid : $ 124,520/ 19570= $ 6.36
Standard price = ?
<em>Material Price Variance= (Actual Price * Actual Quantity)- (Standard Price * Actual Quantity)
</em>
Material Price Variance= ($ 6.36 * 18790)-( ??? * 18790)= $ 119577.02- ( ??? * 18790)
$7,100 unfavorable=$ 119577.02- ( ??? * 18790)
$ 119577.02- $7,100=( ??? * 18790)
( ??? * 18790)=112457.02
Standard Price= 112457.02/18790
Standard Price= $ 5.98
<em>Material Quantity Variance= (Standard Price * Actual Quantity)-(Standard Price * Standard Quantity)
</em>
Material Quantity Variance=($5.98 * 18790)-($5.98 *8656 )=112364.2-51762.88
Material Quantity Variance=$ 60601.32 Unfavorable