Answer:
A. $287,000
B. $192,050
Explanation:
a. Based on the information givenwe were told that company ABC had net income of the amount of $287,000 after deducting Robert's salary of the amount of $86,100 which therefore means that ROBERT'S QUALIFIED BUSINESS INCOME will be the amount of $287,000.
b. Calculation to determine whether your answer to part (a) would change if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $181,050
Based on the information given the amount of $192,050 will be the additional amount of salary that can be deducted which is Calculated as:
=[$287,000 - ($181,050-$86,100)]
=$287,000-$94,950
=$192,050
The first step when considering a career is to assess yourself.
Answer:
A. This is a bilateral, valid, executory contract
Explanation:
As in the given scenario, the offer and acceptance is made between the Mary and Hal which reflect the valid contract as in this both parties have expresses to enter into a contract
Plus, it is a bilateral contract in which both parties agree to do his/ her positions.
And, it is also an executory contract in which the contract is completed at some future i.e in this case the contract is completed when delivery and payment are made.
Answer:
In its 2017 year-end balance sheet, Reliable would report installment receivables (net) of $13,400.
Explanation:
Under cost recovery method, the amount which is actually received was recorded in the books of the accounts. Rest will not be considered.
The Installment receivables should be computed by a formula which is shown below:
= 2017 Merchandising costing - 2017 sales collection
= $32,500 - $19,100
= $13,400
Thus, In its 2017 year-end balance sheet, Reliable would report installment receivables (net) of $13,400.
Answer:
small business
Explanation:
According to my research on the different types of companies, I can say that based on the information provided within the question Vernon's company can be categorized as a small business. A small business refers to any company that is independently owned and has only a small number of employees and resources in comparison with the industry that it is currently in. Since Vernon business is run from his house and he only has 55 employees, he would be classified as a small business.
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