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STALIN [3.7K]
3 years ago
6

Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $140 in cash from a

customer for services rendered this year a promise from a customer to pay $192 for services rendered this year tickets to a football game worth $230 as payment for services performed last year a check for $178 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C
Business
1 answer:
Masja [62]3 years ago
7 0

Answer:

$548

Explanation:

Calculation to determine How much income should Bill realize on Schedule C

Income realized=$140+ $230 + $178

Income realized= $548

Therefore How much income should Bill realize on Schedule C is $548

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Retained earnings $52,000 Accounts Payable $15,000 Supplies 37,000 Common stock 25,000 Equipment 72,000 Note payable (due in 18
Naddika [18.5K]

Answer:

$22,000

Explanation:

Current liabilities are debts that a company must pay within a twelve month period.

This company's current liabilities are:

  • Accounts payable  $15,000
  • Interest payable  $7,000

Total current liabilities = $15,000 + $7,000 = $22,000

Since the note payable is due in 18 months, it is not considered a current liability.  

8 0
3 years ago
2. Sunshine Bakery bakes 660 loaves of bread each day and estimates that 10% of the bread will go stale before it is
Alisiya [41]

Answer:

$0.79

Explanation:

The Bakery bakes 660 loaves of bread

The cost of baking one bread= $0.46

The total cost of baking all loaves of bread

= $0.46 x 660

=$303.60

The desired mark up is 55% of cost

=55% of $303.60

=55/100 x $303.60

=0.55 x $303.60

= $166.98

Desired revenues = $166.98 +$303.60

=$470.58

The number of sellable breads= 660 - (10% of 660)

=660-66

=594

Desired income is $470.58; sellable output is 594.

price per bread should be

=$470.58/594

=$0.79222

Price per bread = $0.79

3 0
2 years ago
An investor seeking tax advantages through an oil and gas dpp. with this type of partnership he would expect to benefit most fro
Olenka [21]

The answer is<u> "depreciation allowances and tax credits."</u>


Depreciation allowance refers to a sum that can be removed a business' benefit figure while ascertaining charge, to take into account the way that an advantage has lost piece of its incentive amid a specific time frame.  

An tax credit is a measure of cash that citizens can subtract from charges owed to their legislature. The estimation of a tax credit relies upon the idea of the credit; certain sorts of expense credits are conceded to people or organizations in particular areas, orders or ventures.

5 0
3 years ago
TRADE OFFER<br> I receive laugh you receive points
AlekseyPX
Pardon me but how about…yes?

3 0
3 years ago
What is the typical relationship between time and interest rate? a. Longer time period usually equals higher interest rates. b.
murzikaleks [220]
The answer is a, the more you wait to get you money back the more you charge in interest, you have to be paid to wait.
3 0
3 years ago
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