Jessica's Dog Shop a partnership, had $100,000 in revenue, $5,000 in entertainment expenses, $2,000 in insurance...

  

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Jessica's Dog Shop a partnership, had $100,000 in revenue, $5,000 in entertainment expenses, $2,000 in insurance expenses, $8,000 in rent and $12,000 in legal fees. What is the net income per books? Katie's Marble Shop sold machinery for $250,000 cash, had seller's fees in the amount of $10,000 and the buyer assumed $30,000 of liabilities. What is the amount realized? Alexis, a cash basis individual received: $10,000 on January 2022 for January 2021 rent income $10,000 on November 2022 for December 2022 rent income $10,000 on December of 2022 for January of 2023 rent income $10,000 on January 2023 for February of 2023 rent income How much rental income will be in her 2022 tax return? Jessica's Dog Shop a partnership, had $100,000 in revenue, $5,000 in entertainment expenses, $2,000 in insurance expenses, $8,000 in rent and $12,000 in legal fees. What is the net income per books? Katie's Marble Shop sold machinery for $250,000 cash, had seller's fees in the amount of $10,000 and the buyer assumed $30,000 of liabilities. What is the amount realized? Alexis, a cash basis individual received: $10,000 on January 2022 for January 2021 rent income $10,000 on November 2022 for December 2022 rent income $10,000 on December of 2022 for January of 2023 rent income $10,000 on January 2023 for February of 2023 rent income How much rental income will be in her 2022 tax return?

Answer rating: 100% (QA)

To calculate the net income per books for Jessicas Dog Shop we need to subtract the expenses from th... View the full answer