Business, 13.11.2019 06:31 any80

Rebecca is a doctor with an agi of $125,000 before consideration of income or loss from her dog breeding business. her home is on 15 acres, 10 of which she uses to house the animals and provide them with ample space to play and exercise. her records show the following related income and expenses for the current year: income from fees and sales $2,500 expenses: dog food $4,000 veterinary bills 3,500 supplies 1,200 publications and dues 350 must rebecca treat the income and expenses of the operation if the dog breeding business is held to be a hobby? how would your answer differ if the operation were held to be a business?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 21:00

Stephen barrett,md previous writing experience ?

Answers: 1

Answer

Business, 22.06.2019 02:30

Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during marchâ€”job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the companyâ€™s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next

Answers: 2

Answer

Business, 22.06.2019 02:50

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Answers: 3

Answer

Business, 23.06.2019 02:00

Acompany sells garden hoses and uses the perpetual inventory system to account for its merchandise. the beginning balance of the inventory and its transactions during september were as follows:

Answers: 2

Answer

You know the right answer?

Rebecca is a doctor with an agi of $125,000 before consideration of income or loss from her dog bree...

Questions