1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
A senator from a state with several steel-rod factories explains that it is necessary to impose trade restrictions, such as a ta
Sergio [31]

Answer:

Jobs argument

Explanation:

-The national-security argument states that some industries have to be protected by imposing tariffs to maintain the local production in case of a war.

-The unfair-competition argument says that the domestic market has to be protected when there is unfair competition because companies from other countries are subject to different regulations.

-Using-protection-as-a-bargaining-chip argument states that the threat of imposing a restriction can help to eliminate a restriction that was imposed by another country.

-Infant-industry argument says that new industries have to be protected because they don't have economies of scales that their competitors from others countries have.

-The jobs argument claims that the trade with other countries eliminates the local jobs.

According to this, the answer is that the senator is using the jobs argument to argue for the trade restriction on steel rods because he claims that it is necessary to impose those restrictions to protect the workers from losing their jobs.

8 0
3 years ago
peanut butter and jelly are complements. if there is a decrease in the price of jelly, producer surplus in the peanut butter mar
ololo11 [35]

If the price of jelly decreases, the demand for peanut butter, a complementary good to jelly, will increase. The increase in the demand for peanut butter will cause the price of peanut butter to rise.

Peanut butter is a food paste or spread crafted from ground, dry-roasted peanuts. It typically consists of extra components that alter the flavor or texture, which include salt, sweeteners, or emulsifiers. Peanut butter is fed on in many countries. The USA is the main exporter of peanut butter and one of the most important clients of peanut butter annually in step per capita. January 24 is National Peanut Butter Day inside the u.S.. Peanut butter is a nutrient-rich food containing high levels of protein, numerous vitamins, and nutritional minerals. Its miles typically served as diffusion on bread, toast, or crackers, and used to make sandwiches (extensively the peanut butter and jelly sandwich). It's also used in some breakfast dishes and desserts, inclusive of granola, smoothies, crepes, cookies, brownies, or croissants. It's far much like other nut butter such as cashew butter and almond butter.

Learn more about peanut butter here

brainly.com/question/23636252

#SPJ4

8 0
1 year ago
yeloe corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cos
Keith_Richards [23]

Answer:

Entry is given below

Explanation:

Bought shares 6 months ago = 400shares x $60/share

Bought shares 6 months ago = $24,000

Sold shares = 400shares x $40/share

Sold shares = $16,000

Loss on sales proceeds  = $24,000 - $16,000

Loss on sales proceeds = $8,000

Entry:

                                      DEBIT        CREDIT

Cash                              $16,000

Loss on sale                  $8,000

Shares                                               $24,000

8 0
3 years ago
Oscar is thinking of quitting his job and buying a business. He thinks he will earn $100,000 in the first year. He currently wor
zepelin [54]
Oscars opportunity cost for buying the business is 50,000
7 0
3 years ago
What is the main cause for low birth weight in developed countries?
Kazeer [188]
Thank you for posting your question here at Brainly!~

I believe the correct answer to the question being asked is "malnourishment."

Hope I helped!~ Brainliest appreciated.
5 0
3 years ago
Other questions:
  • A company wants to set up operations in a country with the following corporate tax rate structure: Taxable Income Tax Rate <$
    8·1 answer
  • With disability income insurance, benefits usually begin:
    11·2 answers
  • JBC Corporation is owned 20 percent by John, 30 percent by Brian, 30 percent by Charlie, and 20 percent by Z Corporation. Z Corp
    15·1 answer
  • Anne owns a business that trades in perishable commodities. Which property would Anne be interested to invest in? office buildin
    10·1 answer
  • You purchased an annual-interest coupon bond one year ago with six years remaining to maturity at the time of purchase. The coup
    9·1 answer
  • THIS IS A RANDOM QUESTION can someone spill some tea bc im bored
    15·2 answers
  • Is a company bonus earned income?
    10·1 answer
  • What is a market supply schedule?
    11·2 answers
  • Russell Co. reports sales revenue of $30,600 and interest revenue of $5,600. Its comparative balance sheet shows that accounts r
    7·1 answer
  • 14. Over a given year, nominal GDP increased by about 2.5%. Over that year, the GDP deflator decreased by about 4%. From this in
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!