Henrietta is a freelance journalist writing articles for a number of publications. This year she will...

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Henrietta is a freelance journalist writing articles for a number of publications. This year she will report a profit. The results of her operations are as follows. Gross income, $42,000 Travel expense, $4,400 Business clothing to visit publication editors, $900 Transportation, 940 miles (at standard mileage rate) Entertainment $750 Subscriptions to professional magazines and websites for freelance writers, $600 Gifts: 8 at $80 each; 6 at $20 each Rent, insurance, and utilities for apartment, in total (15 percent is used for a home office), $15,600 Instructions: Prepare a schedule that shows the computation of the net income Henrietta should show on his Schedule C? You must show supporting computations to receive credit. Henrietta is a freelance journalist writing articles for a number of publications. This year she will report a profit. The results of her operations are as follows. Gross income, $42,000 Travel expense, $4,400 Business clothing to visit publication editors, $900 Transportation, 940 miles (at standard mileage rate) Entertainment $750 Subscriptions to professional magazines and websites for freelance writers, $600 Gifts: 8 at $80 each; 6 at $20 each Rent, insurance, and utilities for apartment, in total (15 percent is used for a home office), $15,600 Instructions: Prepare a schedule that shows the computation of the net income Henrietta should show on his Schedule C? You must show supporting computations to receive credit.

Answer rating: 100% (QA)

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