Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 26, 2024

Adele has a small business that sells makeup. During 2021 she uses $5650 of her inventory for her personal use. How much of that $5650

Adele has a small business that sells makeup. During 2021 she uses $5650 of her inventory for her personal use. How much of that $5650 may she deduct from the gross income of the business. a. $5650 b.$5000 c.$2825 d. 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

3. Why are some neuroscientists uncomfortable with calling oxytocin the hug hormone?

Answered: 1 week ago

Question

★★★★★

P Company owns 80% of the outstanding stock of S Company. During 2011, S Company reported net income of $525,000 and declared no dividends. At the end of the year, S Companys inventory included...

Answered: 1 week ago

Question

★★★★★

Adriana is in the business of selling antique furniture.as her company has increased significantly the internet portion of the business,adtiana has determined yhat ahe soes not need as much tetail...

Answered: 1 week ago

Question

★★★★★

reply to this statement . After doing some research, given the lack of transparency in Hollywood accounting and the conflicting reports, it's difficult to determine the "correct" budget figure for...

Answered: 1 week ago

Question

★★★★★

Company Information & Summary of Significant Account Policies Macon Machines Company began operations on November 1, 2024. The main operating goal of the company is to sell high end robots. Customers...

Answered: 1 week ago

Question

★★★★★

Palma Company had 90% ownership interest acquired several years ago in Small Company. The amortization of allocated excess (identifiable assets) arising from this acquisition amounted to P2,000 per...

Answered: 1 week ago

Question

★★★★★

5. Do all parts below without using u-substitution 1 3 2 a. Evaluate f(x- 2x + 4x) dx -1 b. / Evaluate 2x(x - 3)dx 9x2-x3/2 c. Evaluate - dx x d. Evaluate 16 dx CSCX 3 x+x+1 e. Evaluate f dx x dx f....

Answered: 1 week ago

Question

★★★★★

During May, 6,000 pounds of raw materials were purchased at an actual cost of $2.60 per pound. If there was a favorable materials price variance of $1,200 for December, the standard cost per pound...

Answered: 1 week ago

Question

★★★★★

It is essential that performance initiatives are measured in order to determine their success or failure. Outline two performance metrics that an HR manager might use to measure or monitor a...

Answered: 1 week ago

Previous Question Next Question