On 12/31/X4, Zoom, LLC, reported a $49,500 loss on its books. The items included in the loss computation were $23,000 in sales revenue, $8,000 in qualified dividends, $15,000 in cost of goods sold, $43,000 in charitable contributions, $13,000 in employee wages, and $9,500 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return? Multiple Choice ($8,000) ($14,500) ($49,500) ($84,500)
On 12/31/X4, Zoom, LLC, reported a $49,500 loss on its books. The items included in the loss computation were $23,000 in sales revenue, $8,000 in qualified dividends, $15,000 in cost of goods sold, $43,000 in charitable contributions, $13,000 in employee wages, and $9,500 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return? Multiple Choice ($8,000) ($14,500) ($49,500) ($84,500)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On 12/31/X4, Zoom, LLC, reported a $49,500 loss on its books. The items included in the loss computation were $23,000 in sales revenue, $8,000 in qualified dividends, $15,000 in cost of goods sold, $43,000 in charitable contributions, $13,000 in employee wages, and $9,500 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return?
Multiple Choice
($8,000)
($14,500)
($49,500)
($84,500)
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