Solution-Amount of revenue and expenses

Amount of revenue and expenses

Reference no: EM132886448

Kate ilverman owns a computer consulting business. Each year she must report the amount of revenue and expenses involved in operating the firm. She must pay federal income tax on the amount by which revenues exceed expenses.

Ms. Silverman often makes personal long-distance phone calls from her office. She charges these calls to the business account.

Reference no: EM132886448

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Amount of revenue and expenses

Reference no: EM132886448

Reference no: EM132886448

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