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Business Accounting Information
Business Accounting Information
|
Order Number |
789643256 |
|
Type of Project |
ESSAY |
|
Writer Level |
PHD VERIFIED |
|
Format |
APA |
|
Academic Sources |
10 |
|
Page Count |
3-12 PAGES |
Instructions/Descriptions
Pizza Business Accounting Information
Question Description
Fred’s Pizza business provides you the following Accounting GAAP financial information for this year’s business income tax return:
Income Statement:
Revenue: $100,000
Meals and Entertainment: $10,000
Supply Expenses: $2,000
Depreciation Expenses: $5,000
Assets
Furniture (Class 8, 20%); UCC was $10,000; Purchase this year was $10,000 and disposed of furniture for proceeds of $10,000 and had an original cost of $5,000.
Building (Class 1, 4%); UCC was $100,000
The Business Income tax profit to be inserted into Line 13500 is?
Ignore the Accelerated Investment Incentive.
Linda and Barry, a married couple has the following information for this year:
Linda’s Earned and Net income: $20,000
Barry’s Earned and Net income: $1,200
1st child is 5 years old
2nd child is 15 years old
Nanny/Child Care Expenses (not camps): $50,000
What is the maximum Child Care Expense deduction on Line 21400 for this family this year?
Pizza Business Accounting Information
Question Description
Fred’s Pizza business provides you the following Accounting GAAP financial information for this year’s business income tax return:
Income Statement:
Revenue: $100,000
Meals and Entertainment: $10,000
Supply Expenses: $2,000
Depreciation Expenses: $5,000
Assets
Furniture (Class 8, 20%); UCC was $10,000; Purchase this year was $10,000 and disposed of furniture for proceeds of $10,000 and had an original cost of $5,000.
Building (Class 1, 4%); UCC was $100,000
The Business Income tax profit to be inserted into Line 13500 is?
Ignore the Accelerated Investment Incentive.
Linda and Barry, a married couple has the following information for this year:
Linda’s Earned and Net income: $20,000
Barry’s Earned and Net income: $1,200
1st child is 5 years old
2nd child is 15 years old
Nanny/Child Care Expenses (not camps): $50,000
What is the maximum Child Care Expense deduction on Line 21400 for this family this year?
Pizza Business Accounting Information
