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mixer [17]
2 years ago
15

Bobby is a self-employed taxpayer reporting his business income on Schedule C (Form 1040 or 1040-SR). Identity thieves gained ac

cess to his business checking account and stole $10,000. After completing Form 4684, Casualties and Thefts, where does Bobby report this on his tax return?
Schedule C (Form 1040 or 1040-SR), line 2.
Bobby cannot deduct the loss.
Form 4797, line 14.
Schedule A (Form 1040 or 1040-SR), line 16.
Business
1 answer:
maxonik [38]2 years ago
4 0

Answer:

Bobby cannot deduct the loss

Explanation:

Bobby cannot claim deductions for theft on his property because from 2018 to 2025 they are not allowed as itemized deductions unless they are federally declared disasters in which case he would still need to have to complete the form 4684 and use the form 1040 schedule A to report his claims

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The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these go
Talja [164]

Answer:

direct material = $2,000

so correct answer is B. $2,000

Explanation:

given data

total cost = $9,000

consists = 600 units

overhead apply = $3,000

overhead rate = 75% of direct labor

solution

we get here Direct Labor that is

Direct Labor = \frac{3000}{0.75}

Direct Labor = $4000

and we apply here Total Cost that is

Total Cost = direct material + overhead  + Direct Labor   ..........1

put here value

$9,000  = direct material + $3,000 + $4,000

solve it we get

direct material = $2,000

so correct answer is B. $2,000

3 0
2 years ago
The four general approaches that companies use to develop employees include: Question 41 options:
ad-work [718]
C. is the correct answer
8 0
2 years ago
Calculate the product of savings and growth_multiplier. Store the result in year1. What do you think the resulting type will be?
alexandr1967 [171]

<u>Explanation:</u>

<u></u>

growth_multiplier  is 1.1

savings = 100

desc = "compound interest "

# Place product of growth_multiplier and savings  to year 1

Year 1 =  growth_multiplier* savings  

# Print  

print(type(year1))

Now,

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doubledesc  will be  desc + desc

# Print doubledesc

print(doubledesc)

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8 0
2 years ago
The owner of an interior lot has received notice that the city intends to place a sidewalk across his property. The lot measures
LUCKY_DIMON [66]

Answer:

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000  </em>

<em></em>

Explanation:

We are told that the property is an interior lot, so we'll only consider one of the width of his plot, since the sidewalk can only pass through the front or the back of his property.

The property measures 100' x 500' , that is 100 ft width by 500 ft length

The cost of the sidewalk is $40 per linear ft

The city will pick up 50% of the cost.

For a width of the lot, the cost per linear length will be

100 x $40 = $4000

The city covers 50% of this cost, leaving 50% of the cost to the homeowner.

The homeowner's cost will be 50% of $4000

= 0.5 x $4000 =<em> $2000  </em>

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000  </em>

7 0
2 years ago
Earl Miller, owner of a Papa Gino's franchise, wants to buy a new delivery truck in 6 years. He estimates the truck will cost $3
Studentka2010 [4]

Answer:

  • <u><em>No, he will not have enough money to buy his delivery truck at the end of 6 years.</em></u>

Explanation:

To find how much<em> money Earl Mille</em>r, <em>owner of Papa Gino's franchise</em>, will have in <em>6 years</em>, you must calculate the value of the <em>$20,000</em> that he <em>invests</em> at the <em>5% compounded semiannually:</em>

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Equation:

  • Value=Investment\times (1+r/n)^{(n\times t)}

Where r/n was already calculated: r/n = 0.05/2 = 0.025; and t is the number of years: 6.

        Value=\$20,000\times (1+0.025)^{(2\times 6)}\\\\Value=\$26,899.78

Hence the value of the money invested is less than the value of the truck, and <em>he will not have enough money to buy his delivery truck at the end of 6 years.</em>

3 0
2 years ago
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