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hichkok12 [17]
2 years ago
7

a sole proprietor with a tentative loss may deduct which of the following for qualified business use of home expenses?

Business
1 answer:
Elza [17]2 years ago
3 0

Complete Question:

A sole proprietor with a tentative loss may deduct which of the following for qualified business use of home expenses?

a. depreciation

b. mortgage interest

c. rent

d. Utilities

Answer:

b. mortgage interest

Explanation:

The sole proprietor with a tentative loss may deduct expenses for mortgage interest, mortgage insurance premiums, and real estate taxes under the normal rules.   The sole proprietor is not allowed to deduct other expenses that are normally tax-exempt expenses, including depreciation, rent, and utilities.  The amount to be deducted for mortgage interest should not exceed the percentage for business use.

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Scora, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $50 per unit. Budgete
valentina_108 [34]

Answer:

As per Sales Budget the budgeted sales for the quarter four are $240,000. Below is the Sales budget.

Explanation:

Scora, Inc.    

Sales Budget    

Month Budgeted Unit Sales Budegted Unit Price Budgeted Total Sales

                                  (A)                             (B)               (A*B)

January                          1200                   $50            $60,000

February                         2000                   $50            $100,000

March                         1600                   $50            $80,000

Total for the quarter 4800                   $50            $240,000

Hence, it is concluded that the budgeted sales for the January, February, March are $240,000.

5 0
1 year ago
Which type of briefing is delivered to individual resources or crews who are assigned to operational tasks and/or work at or nea
zhannawk [14.2K]

Answer:

The correct answer is <em>Field-level briefing</em>.

Explanation:

This level involves resources assigned to operational tasks and / or work at or near the incident site. These sessions will be delivered to individual subordinates, full crews or multiple crews, such as Attack Teams or Task Forces, will occur at the beginning of an operational shift.

The location will usually be near the job site or just before mobilization to the field. The supervisor tries to focus the subordinates on their specific tasks and helps define the work area, inform the relationships and expectations.

7 0
1 year ago
A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:
lord [1]

Answer:

Debit to Cash $100, Credit to Petty cash $100

Explanation:

A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:

Date   Journal Entry          Debit     Credit

           Cash                        $100

               Petty cash                          $100

4 0
2 years ago
What do firms stand to gain by increasing their market power
Ivahew [28]

Answer:

Increase in profit.

8 0
1 year ago
Read 2 more answers
On January 1, Imlay Company purchases manufacturing equipment costing $95,000 that is expected to have a five-year life and an e
ExtremeBDS [4]

Answer:

Option C is correct

Explanation:

Using straight line depreciation method we can calculate the annual depreciation of the machinery, which can be calculated from the following formula:

Straight Line Depreciation = (Cost - Salvage Value) / Useful value

Straight Line Depreciation = ($95000 - $5000) / 5 years life = $18,000

The double entry would be:

Dr Depreciation Expense $18,000

Cr Accumulated Depreciation $18,000

3 0
1 year ago
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