Michael operates his health food store as a sole proprietorship out of a building he owns. Based on the following information regarding Year 6, compute his net self-employment income (for SE tax purposes) for Year 6.Gross receipts $100,000Cost of Goods Sold 49,000Utilities 6,000Real estate taxes 1,000Gain on sale of business truck 2,000Depreciation expense 5,000Section 179 expense 1,000Mortgage interest on building 7,000Contributions to Keogh retirement plan 2,000Net operating loss (NOL) from Year 5 10,000a. $24,000b. $16,000c. $31,000d. $14,000

Answers

Answer 1

Answer:

c. $31,000

Explanation:

Calculation for the Net self-employment income

Gross receipts $100,000

Less Cost of goods sold ($49,000)

Less Depreciation expense ($5,000)

Less Utilities($6,000)

Less Real estate taxes ($1,000)

Less Sec. 179 expense ($1,000)

Less Mortgage interest ($7,000)

Net self-employment income $ 31,000

Therefore the Net self-employment income will be $ 31,000


Related Questions

Around the time Adam Smith published “Wealth of Nations”, what was the economic system favored by most European elites called?

mercantilism
capitalism
communism
feudalism

Answers

Answer:

A

Explanation:  Mercantilism

A refrigerator sells for $1,044 on the installment plan. After making a down payment of $100, you pay $59 a month. How many months will it take to pay for the refrigerator?

Answers

Answer:

16 months

Explanation:

Calculating the remaining amount to pay by subtracting the down payment from the installment price:

$1,044 - $100 = $944

The remainder to pay is $944

Calculating the monthly payment by dividing the remainder to be paid by the number of months as shown below

$944 / Number of months = $59

Number of months * $59 = $944

Number of months = $944 / $59

Number of months = 16 months

Why do lenders often require a down payment when credit is used to purchase a good?

Answers

Answer:

see below

Explanation:

A down payment is a lump-sum amount paid a borrower raises when purchasing an asset on credit. The down payment or deposit is paid to the lender and reduces the credit to be extended. Usually, the lender will demand a  down payment of up to 20% of the asset's value.

The down payment reduces the risk a lender takes in advancing the loan to the borrower. It reduces the loan amount involved. The down payment shows the borrower is financially stable. If they can raise 20 percent of the amount, it gives the lender confidence that the borrower can repay the loan. A down payment shows the borrower is a low-risk customer

plz click the photo and help me multi choicee ​

Answers

Answer:

The first one is "More will be supplied at higher prices"

The second one is shortages

The third one is upward

Explanation:

Sorry this took long....

Answer:

1. First Option

2. Second Option

3. First Option

Explanation:

1. The answer is the first option or "more will be supplied at a higher prices." Increasing the price for goods or services will decrease the amount of people that will buy them because not everyone has the money to buy goods from different businesses therefore the supply of these goods will increase. Now if you decrease the price allowing more people to buy your goods then you will have a shorter supply of stock.

2. The answer is option two or "shortages." Imposing price ceilings prevents a products price from rising to a certain level and doing so means that not many business owners can raise the price of their products when the demand for these products goes extremely high, which then causes a shortage a lack of supply of a product.

3. Supply curves is a graph that shows the supply, costs, or service and as a product comes out and experiences hype the business owners expect the supply to be low, but as time goes by and the hype settles the supply for this product would steady increase therefore the graph will always go "upward" or option one.

Hope this helps.

meaning of cooperative​

Answers

Answer:

the Answer: involving mutual assistance in working toward a common goal.

Question 22
1 pts
Which of the following is NOT a good reason to buy a stock index fund like the
S&P 500?
0 You want to have an investment that you don't have to monitor as closely as an actively
managed fund
0 You want to have an investment with low fees
O You want to "beat the market" with the return on your investment
O You want to have a diversified portfolio
Previous
Next

Answers

Answer:

You want to "beat the market" with the return on your investment

Explanation:

The SP 500 is a good example of diversified portfolio investment. Investing in the index fund is less costly compared to other investment instruments.  The SP 500 is considered the benchmark of investment returns in the US. Any attempts to perform better than the SP 500 is termed as trying to "beat the market."

Investors prefer good stock indexes like the SP 500 because they represent diversified investments. They spread risks in many sectors of the economy. Stock indexes have low investment costs and don't need close contact monitoring. Trying to "beat the market" with stock indexes is a daunting task. Any investor who attempts it will end up very frustrated.

A study showed that 47 percent of entrepreneurs were under age 35 when they started their businesses. The same study showed 16 percent were
under the age of 25. If there were 1,855 total entrepreneurs, how many were under the age of 35 when they started their businesses?

Answers

Answer:

872 entrepreneurs

Explanation:

Total number of entrepreneurs was 1855. 47 % were under 35 years. 25% were under 25. the age bracket of under 35 includes people under 25 years.

Entrepreneurs under the age of 35 were 47 percent of 1855

=47/100 x 1855

=0.47 x 1855

=871.85

=872 entrepreneurs

Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. Now consider the following statement: "Through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus move outside its production possibilities curve." Which of the following explains the relationship between the situation described and the statement?
A. Specialization and trade have the same effect as having more and better resources or discovering improved production techniques.
B. The input gains from greater international specialization and trade are the equivalent of economic growth.
C. Specialization and trade have the same effect as having more and better products or discovering improved production techniques.
D. International specialization means directing domestic products to the output that a nation is highly efficient at purchasing.

Answers

Answer:

B. The input gains from greater international specialization and trade are the equivalent of economic growth.

Explanation:

If a country moves outside its production possibilities curve, the country has experienced economic growth, precisely because it has increased the amount of goods it can produce according to the production possibilities curve.

International trade thus facilitates economic growth because it makes each country focus on the production of the goods that have the lower opportunity cost, and therefore, use the country's resources more efficiently. This, added to technological improvements, can help a country's economy become larger in both the short and long-term.

an online survey or _____?​

Answers

Answer:

Study

Explanation:

Some organizations may choose to have job applicants complete an application form created by the firm, instead of just allowing the employee to write his own. Give ONE (1) key reason why
the firm may prefer to have an application form completed.

Answers

Answer:

see below

Explanation:

Job applicants complete an application form created by the employer to gather relevant information from potential employees. One reason employers prefer Job application forms is to gather comprehensive and consistent data from all applicants. This facilitates a fair analysis of applicants' backgrounds.

Application letters and resumes may not have uniform data. The employer designs the application form to ensure they get all the data they require from all applicants. Again, resume's do not include important information such as names and contacts of immediate and past supervisors.

Retirement benefits are an example of
income.
Labor
rental
interest

Answers

The answer is interest

Answer:

Labor income

Explanation:

edg

Aster Inc. is a multinational company. It has branches in two other countries. However, it converts the transactions of the entire business into US dollars. It also doesn’t record the skill levels and the quality of customer service it provides. Which accounting principle does Aster Inc. comply with?


Aster Inc. complies with the principle of _____.

Answers

Answer:

Monetary unit principle

Explanation:

The monetary unit principle refer to a principle in which the business transactions should be recorded in the monetary terms. As non-monetary transactions are not recorded in the accounting. Only that transactions are recorded that are countable

So as per the given case since it converts the business transactions into U.S dollars at the same time it does not record the level of skills and the customer servcie quality

So, this is a monetary unit principle

This type of credit is described as a specific amount of money that typically includes
interest charges. It is repaid in equal monthly payments for a specific number of months.
What type of credit is this?
O Installment
O Revolving
Service
O ALL OF THESE ARE CORRECT

Answers

Answer:

Installment

Explanation:

In installment credit, the borrower makes periodic, fixed, and scheduled loan repayments. The loan has a set timeline by which it ought to be fully repaid. The periodic repayments( installments) are mostly monthly. The installment amount is predetermined and includes the principal amount and an interest component.

Every installment payment reduces the loan balance. The borrower continues making payments until the entire loan is repaid. Installment contrasts with revolving loan type. Under the revolving loan, the lender sets a loan limit for the borrower. The borrower can borrow as many times as long as they are below the set limit.

Which tasks are commonly done by employees in the Energy cluster? Check all that apply.
installing equipment
performing inspections
interpreting technical plans
manufacturing gauges
designing systems
following schedules
gathering information

PLEASE HURRY TIMED TEST I WILL GIVE 20 POINTS

Answers

Installing equipment
Manufacturing gauges
And designing systems.
Hope this helped xxxx

Answer:

a, d, and e

Explanation:

What is one thing the government does as it enforces consumer-protection
regulations?
A. collects tariffs from foreign producers
B. tests products such as drugs and automobiles for safety
C. prevents cartels from engaging in price fixing or production
limitation
D. makes sure publicly-traded companies provide stockholders with
financial records

Answers

Answer: B: test products such as drugs and automobiles for safety

Explanation: âpex learning

Define careere pleaseeeeeeeeee​

Answers

Answer:

a profession or occupation chosen by one's life work.

Having or following a career as specific career diplomat.

Explanation:

Hope this helps.. ;)

FYI I did research and I didn't copied and pasted..

Answer: an occupation undertaken for a significant period of a person's life and with opportunities for progress.

Like a police officer, fire fighter, cashier, fast food worker, teacher, principle, Etc....

Hope this helps... Stay safe and have a great Thanksgiving!!! :D

A(n) _____ is the learned ability to do something. A(n) _____ is a natural talent or ability to excel at something. A(n) _____ is a quality or characteristic.


A. aptitude, trait, skill

B. aptitude, skill, trait

C. skill, trait, aptitude

D. skill, aptitude, trait

Answers

Answer: D. skill, aptitude, trait

Explanation:

A skill is the learned ability to do something which is why when a person is being trained they say the person is acquiring new skills.

Aptitude on the other hand is the natural born talent that a person has that enables them to excel at something.

A trait is simply a quality or characteristic that a person possesses.

Answer: D. skill, aptitude, trait

Explanation: took the quiz.

Hi what color should I paint my room or should I just leave it white?

Answers

Answer: I would say light blue but it depends on what kind of theme you are going for in your room.

Also light blue with clouds is what I want to paint my walls so that is the first thing to come to my mind

One way a partnership differs from a sole proprietorship is that it

Answers

Answer:

The most obvious difference between partnership and sole proprietorship is the number of owners the business has. "Sole" means one or only, and a sole proprietorship has only one owner: you. Conversely, it takes two or more to form a partnership, so this type of entity has at least two owners.

Answer:has owners with many different skill sets

Becky makes $8.75 an hour plus benefits, which are an additional 13.5%.
How much does Becky make per hour including benefits? *
$9.20
$
O $9.95
O $9.93
O $8.88

Answers

Answer:

$9.93

Explanation:

Becky makes $8.75, the benefits are 13.5 % of $8.75.

Including benefits, Becky makes

=8.75 + ( 13.5 /100 x $8.75)

=$8.75 (0.135 x $8.75)

=$8.75 + $1. 18125

=$9.93125

=$9.93

According to O*NET, what are common tasks performed by Tour Guides? Check all that apply. purchasing airline tickets for tour group members selling equipment needed for hiking describing tour points of interest escorting individuals or groups on tours greeting and registering visitors conducting educational activities for children providing directions and information

Answers

Answer:

maintaining equipment

shepherding tourists and luggage

socializing

setting up meals

Explanation:

ITS RIght i just did it good luck n e ways stan dkb and stan conan gray

Answer:

✓leading trips

✓maintaining equipment

✓shepherding tourists and luggage

✓socializing

✓setting up meals

Explanation:

Edge 2021

Q1) The Lahore Metro Bus is crowded for travel during peak hours. During such travel hours two daily passengers ‘Usman’ and ‘Ibrahim’ enter the Metro. Luckily, two adjacent seats are free in the bus. Each of them must decide whether to sit or stand. For both, sitting alone is more comfortable than sitting next to the other person, which in turn is more comfortable than standing. [16 marks]

(Note: for parts (a) & (b) below consider Usman as ‘row player’ and Ibrahim as ‘column player’).

A) Model the situation as a strategic game, assuming both ‘Usman’ and ‘Ibrahim’ care only about their own comfort. Find the Nash equilibrium (equilibria) if it exists. Also, does a dominant strategy exist for either ‘Usman’ or ‘Ibrahim’

B) Now assume that both ‘Usman’ and ‘Ibrahim’ are altruistic, ranking outcomes according to the other person’s comfort and, out of politeness, prefer to stand than to sit if the other person stands. Model the situation as a strategic game and find any Nash equilibrium (equilibria) if it exists. Does a dominant strategy exist for either ‘Usman’ or ‘Ibrahim’ with these preferences?

Answers

Answer:

Each of them must decide whether to sit or stand. For both, sitting alone is more comfortable than sitting next to the other person, which in turn is more comfortable than standing is discussed below in details.

Explanation:

A) In the first position, every one of them makes more profit by resting alone than by resting together, and this is favored over standing. So the payoffs are as provided in the beneath image as (a). Here if one stands and the other sits, at that point the person who relaxes gets a bigger payoff of 4, while the other gets - 2 (Since he is standing which is difficult). If the two of them stand, at that point, the payoff is - 2 for each, and on the off chance that the two of them sit they every one of them gets a payoff of 2 (which is not exactly the payoff if the other individual stands given as 4 above). So Usman stands, Ibrahim will decide to sit, bringing about a payoff of (4,- 2). In any case, if Ibrahim sits, Usman will likewise sit since his payoff is higher by choosing to sit (2>-2). So the only Nash equilibrium is given when both choose to sit, e (Sit, Sit) given by lower right corner of the game getting the payoff of (2,2).

How does immigration impact the economy

Answers

it’s actually a big help because the people do work no one else wants to do

i will give $1000 to someone that can help me with this. and im being serious​

Answers

Answer:

shell say to get your team together and lead if can do it do it, if you cant, don't

Explanation: you're the team leader you're supposed to be able to make decisions even the hard ones

In 2022, Spencer Realty considered conducting a survey of every home to determine which homes may be put on the market within the next year. This information would be included in their financial statements as a predictor of potential future revenue. The cost of the survey would be $2.6 million, and the results would not differentiate potential business for Spencer Realty compared to other realtor companies. If Spencer Realty decided to not conduct the survey, that decision is likely based on which concep?
A. Historical cost.
B. Cost constraint.
C. Fair value.
D. Full discloser.

Answers

Answer:

a. cost constraint

Explanation:

A cost constraint arises when it is excessively expensive to report certain information in the financial statements. When it is too expensive to do so, the applicable accounting frameworks allow a reporting entity to avoid the related reporting

How do I get free Roux


Answers

Answer:

Robux?

Explanation:

To get free robux, there is a site called blox.land and you do certain things to earn robux and then you can withdraw them.

2
3
6
Compare and contrast mediation with arbitration.

Answers

Answer:

See below

Explanation:

Both mediation and arbitration are dispute resolution mechanisms. They make use of an independent third party to help resolve the conflict. Mediation and arbitration are a private affair between the independent third party and the conflicting parties.

In an arbitration, the arbitrator considers the evidence presented by each of the conflicting parties. They weigh in the legal aspects before making a binding decision. Arbitration is like a court case, except that the process takes place outside a courtroom. There is a winning and a losing party in an arbitration.

Mediation helps parties to settle their disputes through discussions, negotiations, and narrowing differences. The mediator helps conflicting parties to arrive at an agreed solution. They do not decide on the conflicting issue. In mediation, all parties agree on a win-win solution.

I work at a company, and my boss wants me to hand out flyers and get people's names and numbers. But lately i haven't been getting many numbers. Any tips?

Answers

Answer: Social Media!

Explanation:

You can create an online flier and post it on your social media account or a work account, you can ask people to give names and numbers onto a calling list. Something like this could work: “At my job, I need to hand out fliers for <what the fliers are about> and I need names and numbers, can someone help?”

What is productivity? In business?

Answers

Answer:

productivity is commonly defined as ratio between the output volume and the volume of input.

Explanation:

In other words,it measures how efficiently production inputs,such as labour and capital,are being used in an economy to produce a given level of output.

I hope this will help you/helpful for you.

Zane Computer Corporation is considering the possibility of building a new manufacturing facility in a foreign country in order to lower labor and production costs. The legal department of Zane has raised some issues regarding the two countries which are the top contenders for the new facility. The legal system of Country A is based on civil law, while the legal system of Country B is based on common law. Other than the legal systems of the two countries, all other aspects are virtually identical. Zane’s legal experts must determine which system would be the most beneficial to Zane in the long-term.Which of the following supports Country A over Country B?a) Contracts are so detailed that they are expensive to draft.b) Intellectual property rights are loosely upheld and enforced.c) Judges confer with legislators on international business issues.d) Contractual con-compliance provisions are broader in scope.

Answers

Answer:

d) Contractual non-compliance provisions are broader in scope.

Explanation:

Both common law and civil law were originated in western Europe. Common law comes from medieval England while civil law comes from ancient Roman Empire. Common law is more flexible than civil law, so that allows different interpretations of the law. Since civil law is more rigid, contractual non-compliance provisions must include all possible contingencies and their outcomes.

Other Questions
hey do any of y'all know what the lcm of 9c^4 and 15c^2 A summer movie club charges a $30 membership fee and then $5 per movie. Which equation can be used to find y, the total cost of the movie club, if x represents the number of movies watched. * the vector to fully describe the single transformation which takes triangle A to triangle Sergio Gonzales is employed by Bigbux National Bank, one of the largest banks in the Midwest. He is a loan officer, specializing in home equity loans. Tio Raul, Sergio's favorite (and wealthiest) uncle, passed away last month and left Sergio a sizable amount of money. Sergio is looking at the best way to invest his newly acquired wealth. He is considering many options, ranging from simply putting the money into a savings account to the possibility of starting his own business. Although his bank job pays well and offers pleasant working conditions, Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor. Besides, he's a bit bored and looking for a challenge. He thinks he might get a lot of satisfaction from owning his own business. Sergio has not made a definite decision yet, but has talked to a lot of people searching for a good idea for a new business. If he can come up with an idea he likes, he might just quit his current job and use his inheritance to go into business for himself!Sergio's frustration with his lack of freedom and flexibility at work indicates that Bigbux: a. prefers the use of cross-functional teams rather than individual initiative. b. has not adopted a strategy of empowerment. c. knows that the best way to ensure good customer service is to closely monitor its lower-level employees. d. is trying to please customers as well as other stakeholders. why Constantinople was an easy target for Mehmed II. Angles A and B are complementary. Angle A measures 3x + 10degrees and angle B measures 2x + 20 degrees. What is the value ofx? GIVING BRAINLIST SO PLZ HELP ME IM CRYING BECAUSE I CANT DO ITPart A. Write a 4 line/4 stanza poem about your favorite video game or movie that includes repetition, rhyme, alliteration and a shift.Part B. Explain how the shift in your poem impacts the meaning of the poem. What is it called when magma pushes into cracks in rock formations and causes them to widen? Point O is the incenter of ABC.Point O is the incenter of triangle A B C. Lines are drawn from the point of the triangle to point O. Lines are drawn from point O to the sides of the triangle to form right angles and line segments O Q, O R, and O S. Angle Q A O is (2 x + 6) degrees, angle O A S is (4 x minus 12 degrees), and angle Q B O is (3 x minus 15) degrees.What is m Angle Q B O?591224 I WILL GIVE BRAINLIEST _____ is defined as the process a company employs to externally search for and source research, new technologies, and products. Margaret packs colored cubes into shipping boxes. She has a function b(x)=x+2 that gives the edge length of the box, in centimeters, given the edge length x of the cube.What is the volume, in cubic centimeters, of a shipping box for a colored puzzle cube with an edge length x of 8 centimeters, where V=x3?a. 216b. 512c. 640d. 1000 HELP????!?!?!??!? {PLEASEEEEEEEE Any application that wants to be displayed on the web must use the HTTP protocol TrueFalse Use the following bond quotation:IssuerSymbolCallableCouponMaturityRatingPriceYieldWalmartWMT.IMNo4.8757/8/2040Aa2111.444.06What is the yield to maturity? Enter your answer as a decimal.If the bond has a face value of $1,000, how much does it currently cost (in $, and ignoring accrued interest)? Which states of matter are present in this sealed container?A. solid and gasB. liquid and gasC. solid and liquidD. solid, liquid, and gas this technology identifies a potential collision and then warns the driver of the situation Help me plzzzzz zzzzzz The pastry will be perfect if the recipe is followed 100% . Which verb mood is found in this sentence?A. Indicative MoodB. Conditional MoodC. Interrogative MoodD. Imperative Mood E. Subjunctive Mood In every price negotiation, there is (select one):A. a ZOPA.B. a BATNA.C. a reservation price.D. all of the above.E. two of the above.F. none of the above.