11. Tito Ben is the owner of Jack's Magic Touch which offers beauty solutions to their customers. Jen is the nail specialist of the salon. If you are the bookkeeper of the entity, how would you account the payments received from Jen's customers? a. Salaries expense b. Service Income c. Salaries Income d. None of the above 12. From the above problem, if Jen receives a salary from Jack's Magic Touch amounting to P12,000 for one month, such payment will be treated as____________ in Jack's Magic Touch Statement of Comprehensive Income a. Salaries expense b. Service Income c. Salaries Income d. None of the above

Q: Jenny operated a small shop selling hygienic supplies and bought facial masks worth $15,000 from the…

A: Uncrossed bearer cheque :            It is a financial instrument which is also considered as…

Q: 1

A: Once you have take a training from any module sometimes it has been seen that experience comes from…

Q: Note: Leave no answers blank. Enter zero if applicable. a. Michelle moves her food truck between…

A: Deductions are the amount that is deducted from the gross income of an individual or an…

Q: find the Net profit or (loss). This information is for Schedule C. Form 1040. Thank you in advance…

A: Computation of   Net Profit or (Loss) as follows: TRADING & PROFIT AND LOSS ACCOUNT…

Q: a) John, age 60, purchases an annuity from an insurance company for $90,000. He is to receive $500…

A: a) John who aged 60 Purchased an annuity from a insurance company  Cost = $90000 Receives income per…

Q: Required information [The following information applies to the questions displayed below.] Michelle…

A: Deduction: Deductions are the amount that is deducted from the gross income of an individual or an…

Q: Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Need Answer please give it

A:

Q: One of Cristina's peanut butter catering clients has made a deposit for a big event--a backyard…

A: Customer Deposit It is basically a liability in the books of a firm which means cash received in…

Q: David agrees to be paid $7,000 to get Jake's old building up to the current Electrical Code. When…

A: David will get =$7000 when work is done. Jake pays $4000

Q: Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the…

A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…

Q: L. Mónica worked 60 hours (20 hours were overtime-she

A: Fedral Insurance Contribution Act [FICA] is payroll tax deducted to fund the…

Q: Q's employer provided her with the following gifts and awards: Golf shirt with employer logo valued…

A: The part of the total income that the IRS considers to be taxable is known as taxable income. Both…

Q: Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the…

A: Note: As per the policy, we are supposed to solve the first three subparts at a time. Kindly repost…

Q: Robert is a financial advisor at Big Bank Pty Ltd. Which of the following magazine subscriptions…

A: Deductions are the diminution in the amount of taxable income by the governments to benefit the…

Q: 3. Jane James owns an appliance store. She normally receives $50,000 worth of appliances per month.…

A: To calculate the additional interest Jane James would earn by delaying her payment by ten days, we…

Q: To purchase $11,600 worth of machinery for her business, Jane made a down payment of $1700 and took…

A: Jane purchased machinery for her business, making an $1,700 down payment and securing a loan for the…

Q: Determine the amount of the Earned Income Credit in each of the following cases. Assume that the…

A: The earned income tax credit (EITC) — sometimes shortened to "earned income credit" — is a tax break…

Q: 13. The salaries given to the nail specialist in #2 is considered part of a. Operating income b.…

A: The questions are multiple choice question. Required  Choose the Correct Option.

Q: Donald operates an accounting firm and has an annual summer party for the employees and their…

A: As per IRS, Only 50% of the Food Cost is tax deductible.

Q: 2 Anna needs $100 in cash to go home for the weekend, and all she has is a credit card. Her cash…

A: The question is based on the concept of Financial Accounting.

Q: December 31, 20x6, JANE granted the following people franchises that ANNA BETY id (down payment)…

A: Total revenue to be recognized by jane on Dec 31, 2006

Q: Required information Problem 6-4A & 6-5A (Algo) [The following information applies to the questions…

A: Social Security tax is the tax levied on employers and employees to fund the Social Security program…

Q: Determine the amount of the Earne

A: Note 1]  The earned income tax credit (EITC) — sometimes shortened to "earned income credit" — is a…

Q: Kim works for a clothing manufacturer as a dress designer. During 2022, she travels to New York City…

A: Particulars Amount Airfare $800 Lodging (8 nights) $1,040 Meals at local restaurants (8…

Q: per diem would be for one 24-hour period for either flying or driving.) As a manager, Bridget is…

A: There are two types of costs that are incurred by a business and those are relevant costs and the…

Q: ithin a budget and wants to determine which is more conomical. What is the differential cost of…

A: Relevant cost Relevant cost refers to that costs which helps the company in taking decisions, it is…

Q: BEYOND BANZAI PLUS VOCAB FILL IN THE BLANK Complete the paragraph using the terms below.

A: Please find the words to be filled in the blanks. It is related to the payroll department.

Q: Advise Aussie Models Pty Ltd of the fringe benefits tax payable (rounded to the nearest dollar) of…

A: Answer: Fringe Benefits Tax payable for the year ended on Mar 2018 is $1729

Q: Assume that your friend chooses the CommBank Awards credit card. After about six months of using her…

A: The net monetary benefit or the net benefit is summarised data that represents the value of an…

Q: Determine the amount of the

A: Note 1]  The earned income tax credit (EITC) — sometimes shortened to "earned income credit" — is a…

Q: Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the…

A: working notes:  driving car (194*0.5*2) = 194 Differential cost =398-328

Q: B 12. Susan works part-time with an accounting firm while she completes her accounting degree. She…

A: Some of expenses are deducted as expenses but while some of expenses are not deducted.

Q: 3 01:22:52 Multiple Choice At tax time, the business pays taxes on $200,000, and Mylie pays taxes on…

A: In the present case Mylle has a clothing store as a sole proprietorship having net income of…

Q: THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER Maddy and Maxie are running a coffee shop.. They agree…

A: A partnership is a type of business organization where two or more persons come together to achieve…

Q: Need help with these 2 questions 6- if Jocelyns annual earnings are $72600, what is her rounded…

A: Part 6: Annual earnings = $72600 Months in a year = 12 months

Q: Dawood works in one of the investment banks in the Kingdom of Bahrain as Vice-President of…

A: Fortnight = 2 weeks 1 month has 4 weeks

Q: 6. Sharon lives in Saskatoon. She wants to go to the West Edmonton Mall for a shopping trip with her…

A: Financial planning is the process of creating a roadmap to help you achieve your financial goals. It…