Reference no: EM13852828
Dave Stevens, age 34, is a self-employed physical therapist. His wife Sarah, age 31, teaches English as a Second Language at a local language school.They live at 12637 Pheasant Run, West Bend, Oregon 74658. They paid $8,900 in qualified residence interest and $2,400 in property taxes on their home. They had cash charitable contributions of $14,000. They also paid $180 to a CPA for preparing their federal and state income tax returns for the prior year, $100 of which was for the preparation of Dave's Schedule C. Sarah and Dave earned interest on CDs of $3,200. Sarah's salary for the year is $32,000, from which $9,600 in federal income tax and $1,400 in state income tax were withheld. Dave's office is located at Suite 402 943 Woodview Drive Portland, Oregon 74624, and his employer ID number is 22-758904
Dave has been practicing for four years, and he uses the cash method of accounting. During the current year, Dave recorded the following items of income:
Revenue from patient visits $300,000
Interest earned on the office checking balance 225
The following expenses were recorded on the office books:
Property taxes on the office $ 4,500
Mortgage interest on the office 12,000
Depreciation on the office 4,500
Malpractice insurance 37,500
Utilities 3,750
Office staff salaries 51,000
Rent payments on equipment 15,000
Office magazine subscriptions 150
Office supplies 24,000
Medical journals 330
Dave pays $50 annually for use of a safety deposit box to store certain confidential documents related to his business. In addition to his medical practice, Dave spends 15 hours every week managing his real estate investments. To make sure he is aware of all current investment strategies and best practices, he subscribes to the following journals:
Wall Street Journal $150
U.S. News & World Report 55
Money Magazine 45
|
My new business model
: My new Business model- Business models should be about describing how the firm will create a superior level of customer surplus in future transactions (adding a superior level of customer utility / lower price or both)
|
|
Identify the risks of the proposed project
: Critically analyse the project context and Provide a summary of the project context in report format, suitable as a briefing for key stakeholders.
|
|
What are some response activities that organizations use
: As the pressures of the business environment increase, what are some response activities that organizations use? What about these specific activities is beneficial to the organizations
|
|
Cobb-douglas and total factor productivity
: As an economist working at the International Monetary Fund, you are given the following data for Brazil: predicted per capita GDP, relative to the United States, as given by y = k1/3, is 0.56, and total factor productivity is 0.36. What is the observ..
|
|
Cash method of accounting
: Dave has been practicing for four years, and he uses the cash method of accounting. During the current year, Dave recorded the following items of income:
|
|
Specific factors model
: Consider a country that produces shirts and autos. Shirts are produced with sewing machines (specific factor) and labor while autos are produced using robots (specific factor) and labor. Show how going to international trade affects the budget constr..
|
|
What are the sunk costs
: The incremental costs are purchase price ($3,000) and cash operating costs ($500). Here is a question for you based on the information in the table. What are the sunk costs, if any, in this situation?
|
|
Capitalist system relies on theoretical model
: The U.S. capitalist system relies on a theoretical model, the circular flow model, with three basic elements interacting together to ensure that our needs and wants are provided. The three sectors are (a) consumer, (b) business, and (c) government.
|
|
A media access protocol for wireless lan
: The required readings for this homework are lectures 3 and 4 and the following papers: a) "MACAW: A Media Access Protocol for Wireless LAN's" ,b) 802.11 standard, which are available at the courseweb. You are encouraged to look formore sources onli..
|