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choli [55]
3 years ago
8

Tom operates an illegal drug-running operation and incurred the following expenses:Salaries $ 75,000Illegal kickbacks 20,000Brib

es to border guards 25,000Cost of goods sold 160,000Rent 8,000Interest 10,000Insurance on furniture and fixtures 6,000Utilities and telephone 20,000Which of the following amounts reduces his taxable income?
A.$0.
B.$160,000.
C.$279,000.
D.$324,000.
E.None of the above
Business
1 answer:
SSSSS [86.1K]3 years ago
8 0

Answer:

Correct option is B

$160,000

Explanation:

From the question above, Cost of goods sold of $160,000 is treated as a negative item in calculating gross income rather than as a deduction.

For a drug dealer like Tom, all deductions

listed above are disallowed.

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According to the aggregate demand curve, when the aggregate price level _____, the quantity of aggregate output _____. rises; de
iren2701 [21]

Answer:

rises; demanded falls

Explanation:

The aggregate demand curve exhibits a negative relationship between aggregate price levels and aggregate output demanded. If aggregate price levels falls, aggregate output demanded rises and if aggregate price levels rises, aggregate output demanded falls.

The aggregate demand curve is negatively sloped.

Please check the attached image for a graph of the aggregate demand curve.

I hope my answer helps you

3 0
3 years ago
Documents in a voucher system
amid [387]

Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B

Explanation:

Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.

Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.

Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.

Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.

Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.

Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.

4 0
3 years ago
Grace is waiting in her office to meet Joseph, the new sales representative for Powerslam shoe company. Joseph arrives promptly
liraira [26]

Answer : Building rappport

Explanation:

4 0
3 years ago
Beginning Work in Process Inventory was 10,000 units that were 20% complete and 40,000 units started, with ending Work in Proces
lesya692 [45]

Answer:

Material EUP = 5000

Conversion Costs EUP = 51,200

Explanation:

Under weighted average method

Beginning Work in Process Inventory            10,000

Units Started                                                 <u>  = 40,000</u>

Units to account for                                           <u>50,000</u>

<em><u>In the Work In Process for Conversion Costs</u></em>

Beginning Work In Process (10,000*20 %)   = 2000 were complete

Work done on beginning inventory = 10,000- 2,000= 8,000

Units Started                                                   = 40,000

Add Ending Inventory (8000*40%)                 <u> 3200</u>

Units to account for =                                     <u>51,200</u>

5 0
3 years ago
Walk Co’s average total assets are $200,000, net sales total to $100,000, and net income is $40,000. How much net income did Wal
kupik [55]

Answer:

$0.20 or 20 cents for every dollar invested as assets

Explanation:

To determine how many dollars (or cents) of net income did Walk Co. generate for every dollar of assets invested we have to;

divide Walk Co.'s net income by its total assets = $40,000 / $200,000 = $0.20 or 20 cents. This is called the

6 0
3 years ago
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