Business, 05.09.2020 06:01 Stetson02

Through November, Cameron has received gross income of $120,000. For December, Cameron is considering whether to accept one more work engagements for the year. Engagement 2 will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGI. In contrast, engagement 2 will generate $5,000 of qualified business income (QBI) which is eligible for the 20% QBI deduction. Cameron files as a single taxpayer. Calculate Cameron’s taxable income assuming he chooses engagement 1 and assuming he chooses engagement 2. Assume he has no itemized deductions.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 02:20

The following information is available for juno company for the month ending june 30, 2019. * balance as per the bank statement is $ 11 comma 000. * balance as per books is $ 10 comma 400. * check #506 for $ 1 comma 200 and check #510 for $ 900 were not shown on the june 30, bank statement. * a deposit in transit of $ 3 comma 346 had not been received by the bank when the bank statement was generated. * a bank debit memo indicated an nsf check for $ 70 written by jane smith to juno company on june 13. * a bank credit memo indicated a note collected by the bank of $ 1 comma 900 and interest revenue of $ 51 on june 20. * the bank statement indicated service charges of $ 35. what is the adjusted book balance?

Answers: 3

Answer

Business, 22.06.2019 06:00

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Answers: 2

Answer

Business, 22.06.2019 18:30

Jason started last week with $900 in his checking account. during the week, he wrote the checks below. at the end of the week, jason received a paycheck for $534.59. he recorded all of these transactions in his check register. trans typ./ check no. date description of transaction payment/ debit deposit/ credit (+) balance 900 00 241 12/4 miller's food market 53.21 53 21 groceries 846 79 242 12/7 frank's auto parts 24.05 24 05 oil and filter 822 74 243 12/8 mike's barber shop 15.00 15 00 haircut 807 74 deposit 12/9 paycheck 534.59 534 59 1,342 33 evaluate jason's check register. a. jason did a good job; everything is correct. b. the final balance is wrong; jason did not add everything correctly. c. jason should have written debit instead of deposit for the transaction type. d. jason entered the amount for his paycheck in the wrong column.

Answers: 3

Answer

Business, 22.06.2019 19:30

Kirnon clinic uses client-visits as its measure of activity. during july, the clinic budgeted for 3,250 client-visits, but its actual level of activity was 3,160 client-visits. the clinic has provided the following data concerning the formulas to be used in its budgeting: fixed element per month variable element per client-visitrevenue - $ 39.10personnel expenses $ 35,100 $ 10.30medical supplies 1,100 7.10occupancy expenses 8,100 1.10administrative expenses 5,100 0.20total expenses $ 49,400 $ 18.70the activity variance for net operating income in july would be closest to:

Answers: 1

Answer

You know the right answer?

Through November, Cameron has received gross income of $120,000. For December, Cameron is considerin...

Questions