subject
Business, 19.10.2021 01:00 tabathahasaunicorn1

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2021, Betty had the following income and expenses. You may assume that Betty will owe $2,502 in self-employment tax on her salon income, with $1,251 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016. Interest income $ 11,255, Salon sales and revenue 86,360, Salaries paid to beauticians 45,250, Beauty salon supplies 23,400, Alimony paid to her ex-husband, Rocky 6,000, Rental revenue from apartment building 31,220, Depreciation on apartment building 12,900, Real estate taxes paid on apartment building 11,100, Real estate taxes paid on personal residence 6,241, Contributions to charity 4,237. Determine Betty’s AGI and Schedule 1 of Form 1040 for Betty.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 20:30
According to the law of demand, there is an inverse relationship between price and quantity demanded. that is, the demand curve for goods and services slopes downward. why?
Answers: 3
question
Business, 21.06.2019 20:30
What do economists mean when they use the latin expression ceteris paribus?
Answers: 3
question
Business, 22.06.2019 09:30
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
Answers: 3
question
Business, 22.06.2019 21:40
Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.
Answers: 3
You know the right answer?
Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment build...
Questions
question
Biology, 22.03.2021 16:40
question
Mathematics, 22.03.2021 16:40
question
Mathematics, 22.03.2021 16:40
Questions on the website: 13722359