User Account

All Pages

How much self-employment income must William report

Assignment Help Accounting Basics
Reference no: EM132802424

Question - Harrison Corporation (an S corporation) reports ordinary business income of $120,000 after deducting $20,000 for Williams salary. William is a 30% shareholder. How much self-employment income must William report?

A - $36,000

B - 0

C - 56,000

D - 20,000

Reference no: EM132802424

Questions Cloud

Discuss the concepts of mean : Discuss the concepts of Mean, Median, Mode, and Standard Deviation, including when each should be used, and evaluate the differences of each
Write a project management evaluation report : Identify time management issues that arose, and recommend improvements that could be made in the future - how these helped ensure that its objectives
Would have any conflicts or concerns supporting a patient : Would have any conflicts or concerns supporting a patient who chooses holistic or allopathic medicine? Post your discussion to the Moodle Discussion Forum.
What is the amount of the company total liabilities : The total assets of the Jones Company are $190,000 and its owner's equity is $91,000. What is the amount of the company's total liabilities?
How much self-employment income must William report : Harrison Corporation reports ordinary business income of $120,000 after deducting $20,000 for Williams salary. How much self-employment income
Explain how all four aspects of your example work together : Explain how all four aspects of your example work together to form the basis for a testable theory. Cite a minimum of two sources in-text and in an APA-format.
Identify domus corporate strengths and weakenesses : What are the pros and cons of developing North Point versus selling the land? What implications can be drawn from this analysis?
Diffraction angle for the first order diffraction peak : A metal with spacing between planes equal to 0.4164 nm diffracts X-rays with a wavelength of 0.2879 nm.
Calculate the unit sales needed to attain a target profit : Lin Corporation has single product whose selling price is $136 and whose variable expense is $68 per unit. Calculate unit sales needed to attain profit

Reviews

Write a Review

Accounting Basics Questions & Answers

  Identify whether the entry is budgetary or proprietary type

Using the information from exercise, prepare a schedule showing the status of the appropriation at the end of the first quarter.

  At the begining of the year manufacturing overhead for the

at the begining of the year manufacturing overhead for the year was estimated to be 702450. at the end of the year

  What the company requires a minimum pre tax

The machine would reduce labor and other costs by $60,000 per year. The company requires a minimum pre tax of 12% on all investment projects.

  Discuss what are employee replacement awards

What are employee replacement awards. How did Coca-Cola account for the replacement award value provided to the former employees of CCE

  Show a pro forma income statement for the year ended

Show a pro forma income statement for the year ended December 31, 2020, using the percent-of-sales method

  Accounting for uncollectible receivables

Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.

  What are disadvantages of the freight forwarding company

What are the advantages and disadvantages of the freight forwarding company becoming an NVOCC? An Australian freight forwarding company has regular

  Explain why setting up a series of subsidiary ledgers would

during your first week on the job as you review both prior balance sheets and income statements you see no rhyme or

  Salter incs unit selling price is 51 the unit variable

salter inc.s unit selling price is 51 the unit variable costs are 32 fixed costs are 115315 and current sales are 9505

  Determine the division of net profit or loss

Jonathan, Oswald, and Millie formed a partnership by investing $45,000, $60,000 and $85,000 respectively. Determine the division of net profit or loss

  Are there any flaws in the accountants assumption

During 2010, the accountant discovered that the physical inventory at the end of 2009 had been understated by $11,900.

  How much and what type of income must jane report

The partnership distributed $20,000 of cash during 2010. How much and what type of income must Jane report from 2010 partnership activity

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd