Brice is a single, self-employed electrician who earns $60,000 per year in self-employment income. Brice paid the following expenses this year. Which of the expenses are deductible for AGI?1. The cost of health insurance (not purchased through an exchange) 2. The employer portion of self-employment tax paid 3. Penalty on early withdrawal of funds from a certificate of deposit
A. Numbers 1 and 3 only.
B. Numbers 1 and 2 only.
C. Numbers 2 and 3 only.
D. None of the choices is deductible for AGI.
E. All of these choices are deductible for AGI.
Answer: E
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Telemarketing is a type of ________
A) direct selling B) network marketing C) multilevel selling D) close-range marketing E) direct marketing
The adjusting entry at the end of an accounting period to record the unpaid salaries of employees for work provided is:
A. Debit Cash and credit Salaries Expense. B. Debit Salaries Payable and credit Salaries Expense. C. Debit Salaries Expense and credit Salaries Payable. D. Debit Salaries Expense and credit Cash. E. Debit Unpaid Salaries and credit Salaries Payable.
Which of the following is NOT one of the sales and operations planning strategies?
a. level strategy b. product strategy c. chase strategy d. mixed strategy
During December, Hynes Corporation plans to serve 35,000 customers. Revenue is $2.00 per customer served. Wages and salaries are $24,600 per month plus $0.50 per customer served. Supplies are $0.30 per customer served. Insurance is $5,400 per month. Miscellaneous expenses are $4,100 per month plus $0.10 per customer served.Required:Prepare the company's planning budget for December.
What will be an ideal response?