Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I wanna serve begin the bimbos company shop in 2016 as equal partners in 2018 financial records included the following 113,582 and gross receipts 30,467

I wanna serve begin the bimbos company shop in 2016 as equal partners in 2018 financial records included the following 113,582 and gross receipts 30,467 in purchases 3042 in beginning inventory 2788 in inventory at the end of 2018 21,594 in salaries for the three sisters 6429 in general supplies 846 for business insurance 3599 for a new office desk purchased on July 1, 2018 for which they did not elect bonus depreciation or a section 179 deduction Ellen and Sara did not take any distributions for 2018 however they each have a guaranteed payment as a result of the capital they contributed Allens receives 10,000 is there a received 12,000 what is the cost of good sold for the bean burgers for 2018 what is the amount of the ordinary
image text in transcribed
GOW $6,429 in general supplies. $846 for business insurance. $3,599 for a new office desk purchased on July 1, 2018 for which they did not elect bonus depreciation or a Section 179 deduction. Eileen and Sara did not take any distributions for 2018. However, they each have a quaranteed payment as a result of the capital they contri $10,000 and Sara receives $12,000. What is the cost of goods sold for the Bean Buzz for 2018 and what is the amount for their ordinary incon O Form 1125-A, line 8 - $30,721 Form 1065, line 22 - $31.478 O Form 1125-A, line 8 - $52,315 Form 1065, line 22 - $31,478 O Form 1125-A, line 8 - $30,721 Form 1065, line 22 - $53.478 Form 1125-A, line 8 - $52,315 Form 1065, line 22 - $53,478 Mark for follow up Back Save / Return Later Summary

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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