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agasfer [191]
3 years ago
5

Rev. Elvin Snider is the ordained minister at Crossroads United Methodist Church. His salary on his Form W-2 is $20,000. He also

receives a $12,000 housing allowance. His housing costs for the year are $14,000. What is Rev. Snider's self-employment income?
Business
1 answer:
8_murik_8 [283]3 years ago
6 0

Answer: $32000

Explanation:

It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income

Rev. Snider's self-employment income

Therefore, in this case, Rev. Snider's self-employment income will be:

Salary = $20,000

Add: Housing allowance = $12000

Total = $32000

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Career selection should be based on salary alone. Please select the best answer from the choices provided T F
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The table below shows the expenditure components for the United States in 2015. Expenditures in the United States Expenditure Co
AlladinOne [14]

Answer:

a. $12,332.2 billion

b. $3218.9  billion

c. $3093.5 billion

d.  $18120.5 billion

Explanation:

a. The value of Consumption Expenditure = Sum of consumption expenditure on all goods and services

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= $12,332.2 billion

b. The value of Government Expenditure = Sum of expenditure by federal Government and State & Local government

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= $3218.9  billion

c. Gross Investment = Sum of investment and inventories

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= $3093.5 billion

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8 0
3 years ago
During 2022, Crane Company entered into the following transactions.
Anastasy [175]

Answer:

Assets = Liabilities + Stockholders' Equity = $206,670

Explanation:

Note: See the attached excel file for the analysis of the tabular analysis of the effect of each transaction on the accounting equation.

From the attached excel file, we have:

Assets = = – $172,670 + 68,620 + $310,720 = $206,670

Liabilities = $68,620

Stockholders' Equity =  $138,050

Liabilities + Stockholders' Equity = $68,620 + $138,050 = $206,670

Therefore, we have:

Assets = Liabilities + Stockholders' Equity = $206,670

Download xlsx
4 0
3 years ago
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