The balance in prepaid insurance is a one-year premium paid on june 1, 2017. 2. an inventory count on august 31 shows $447 of supplies on hand. 3. annual depreciation rates are (a) buildings (4%) (b) equipment (10%). salvage value is estimated to be 10% of cost. 4. unearned rent revenue of $3,829 was earned prior to august 31. 5. salaries of $382 were unpaid at august 31. 6. rentals of $789 were due from tenants at august 31. (use accounts receivable account.) 7. the mortgage interest rate is 8% per year.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?