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Amanda [17]
3 years ago
8

The only income Ramon needs to report on his Schedule C is his income from Form 1099-K, Payment Card and Third Party Network Tra

nsactions.
Business
1 answer:
ad-work [718]3 years ago
8 0

Answer:

False

Explanation:

Ramon is a sole proprietor and he has the right to take the profits from his business after conducting all the necessary tax deduction. Therefore, on the Schedule C Report, he can also document the income/profit he made after removing the self employment tax. He doesn't need to document the income from the payment card and other sources of income.

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Whats the difference between the salary and hourly calculator? pleaseeee helpp
Bingel [31]
The main difference between the salary and hourly calculator is that the salary calculator is paid to an employee on the basis of an annual amount that is known as salary and hourly calculator is based on the hourly payment. This is the basic difference between the salary and hourly calculator. For a salaried employee, the number of hours worked in a month can vary without affecting the total salary fixed. In case of hourly calculated payment, the number of hours worked has a direct impact on the payment received. If the number of hours worked is less then the hourly calculated payment will also be less.
5 0
3 years ago
Suppose that the federal government places a binding price floor on chocolate. To help support the price floor, the government p
Pavlova-9 [17]

Answer And Explanation:

a) Quantity of chocolate demanded by consumers will decrease

This is because there is a minimum price which makes product more expensive. The higher the price, the less the quantity demanded

b) Quantity of chocolate supplied by producers will increase

This is because price has increased with the government's price floor. The higher the price, the higher the quantity supplied.

c) Quantity of chocolate purchased by the government will increase

This is because there is surplus supply and therefore government would need to buy more to support the price floor and buy leftover chocolates in the market

7 0
3 years ago
Cullumber Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $ 90
Llana [10]

Answer:

$102,080

Explanation:

Given that,

Service cost = $90,500

Interest rate = 9 %

Expected return on plan assets = $62,800

Prior service cost amortization = $10,300

Projected benefit obligation at January 1, 2017 = $712,900

Pension expense for the year 2017:

= Service cost + Interest cost - Expected return on plan assets + Prior service cost amortization

= $90,500 + ($712,900 × 9%) - $62,800 +  $10,300

= $90,500 + $64,080 - $62,800 +  $10,300

= $102,080

8 0
3 years ago
Question 19 A company just starting in business purchased three merchandise inventory items at the following prices. First purch
Lunna [17]

Answer:

Answer is A. USD 80/-

Explanation:

Using FIFO costing, we get:

  • <u>Gross Profit = Sales - Cost of Goods Sold </u>

COGS (Cost of Goods Sold) for two units,

COGS = First purchase + Second purchase

COGS = $70 + $80

COGS = $150

Sales = $230

  • <u>Calculating the Gross Profit: </u>

GP (Gross Profit) = Sales - Cost of Goods Sold

GP = $230 - $150

GP = $80

7 0
3 years ago
Read 2 more answers
E10-12 The following are selected 2017 transactions of Pedigo Corporation.
kap26 [50]

Entries are given.

DATE                 ACCOUNT TITLES                          DEBIT          CREDIT

Dec 31,2019       No entry                                                0                    

                                  No entry

                         (Considering that goodwill has an                               0

                         infinite existence, goodwill should

                         not be amortised.)

Dec 31, 2019      Patent Amortization                           $10,000

                           [$75,000×(1/5)×(8/12)] patents

                          (To record patent amortizations for                    $10,000

                           8 months)

To know more about Entries:

brainly.com/question/17017687

#SPJ9

6 0
1 year ago
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