James Jones is the owner of a small retail business operated as a sole proprietorship. During 2013,
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Question:
James Jones is the owner of a small retail business operated as a sole proprietorship. During 2013, his business recorded the following items of income and expense:
a. Compute taxable income attributable to the sole proprietorship by completing Schedule C to be included in James’s 2013 Form 1040.
b. Compute self-employment tax payable on the earnings of James’s sole proprietorship by completing a 2013 Schedule SE, Form 1040.
Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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