During the current year, LaMarcus, LLC reported $52,420 income on its books. Some (not all) of...
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During the current year, LaMarcus, LLC reported $52,420 income on its books. Some (not all) of items included in the income computation were $431,017 in sales revenue, $12,189 in qualified dividends, $126,171 in cost of goods sold, $21,670 charitable contribution, $32,381 in employee wages, and $14,005 of rent expense. How much ordinary business income (loss) will LaMarcus report on its current year return? Show a loss with a sign in front. For example a loss of $1,000 would be -1,000. During the current year, LaMarcus, LLC reported $52,420 income on its books. Some (not all) of items included in the income computation were $431,017 in sales revenue, $12,189 in qualified dividends, $126,171 in cost of goods sold, $21,670 charitable contribution, $32,381 in employee wages, and $14,005 of rent expense. How much ordinary business income (loss) will LaMarcus report on its current year return? Show a loss with a sign in front. For example a loss of $1,000 would be -1,000.
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Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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