Reference no: EM131438466
Assignment
Review the IRS teaching document provided this week.
Bebe Jackson is a successful, 30-year old attorney, social security no. 255-10-0000. She has a law office on Smith Court, but also has an office in her home, which is a 4-bedroom colonial in Slidell, Louisiana. Her house is 2,400 square feet. One room, a den, 300 square feet, is used for the law office. Her total utility expenses, depreciation, including gas, electric, etc. and also property taxes, total $8,000/year. She is on the cash method.
For 20XX she had $150,000 gross income, and the following expenses, (apart from any allowable home office expenses, which would be added to the list below to the extent allowable):
· Secretary 25,000
· Rent 10,000
· Supplies 500
· Postage 200
· Utilities 1000 (for Smith Ct. office)
· Court fees 1,000
· Insurance 2,000
· Auto expenses (She drove her car 10,000 miles, 4,000 to and from court. 2,000 to and from her home to work and back. The other 4,000 was
"just driving around". The car cost $25,000, bought new last year.
Prepare a 1040 Schedule C for Bebe. Also a Schedule SE for her self-employment taxes.
|
Discuss the sales returns and allowance accounts
: Discuss the Sales Returns & Allowance Accounts. Where does this account fit under the accounting equation? What is the normal balance (debit or credit). How can this be useful for financial analysis?
|
|
How would you justify the incremental expenses
: How would you justify the incremental expenses of establishing an internal audit function in this company? Response should be in own words with a minimum of 90-word count.
|
|
Should abortion for any reason remain legal
: Do you think all forms of abortion are morally defensible? Why or why not? Should abortion for any reason remain legal, or should it be restricted to certain circumstances, and for what reasons?
|
|
Federal government or cumulus
: If so, what are its elements? What steps might Cumulus take to ensure that going forward only authorized users access the data on its computers? Whose efforts-those of the federal government or Cumulus-are more important in securing the company's ..
|
|
Prepare a schedule se for her self-employment taxes
: Bebe Jackson is a successful, 30-year old attorney, social security no. 255-10-0000. Prepare a 1040 Schedule C for Bebe. Also a Schedule SE for her self-employment taxes.
|
|
Create the pie chart
: The Excel file Expenditure shows the spending of a country on various sports during a particular year. Create a pie chart and determine the percentage of total spending on tennis.
|
|
Employee responsibilities to the community
: Discuss the professional ethics and responsibilities of intermediaries, managerial responsibility and loyalty, and employee responsibilities to the community.
|
|
Construct the stacked bar chart for given information
: The Excel file Internet Usage provides data about users of the Internet. Construct stacked bar charts that will allow you to compare any differences due to age or educational attainment and draw any conclusions that you can. Would another type of ..
|
|
Successful implementation of change
: This week, discuss the barriers that will exist to successful implementation of this change. Along with discussing how the change itself will be perceived by the employees, talk about risks to the company, internal and external factors which will ..
|