Bart has the following income and expenses for his Schedule C: 1099-MISCs received: Jack’s Builders $ 42,000 Smith’s Fine Homes 35,750 Murphy’s Builders 24,730 Total Revenue $ 102,480 Wages (46,000 ) Payroll taxes (3,519 ) Payroll tax penalties (300 ) License fee (200 ) Supplies (5,300 ) Cell phone (588 ) Meals (3,000 ) Internet service (780 ) What is Bart's self-employment income?
Bart has the following income and expenses for his Schedule C: 1099-MISCs received: Jack’s Builders $ 42,000 Smith’s Fine Homes 35,750 Murphy’s Builders 24,730 Total Revenue $ 102,480 Wages (46,000 ) Payroll taxes (3,519 ) Payroll tax penalties (300 ) License fee (200 ) Supplies (5,300 ) Cell phone (588 ) Meals (3,000 ) Internet service (780 ) What is Bart's self-employment income?
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 1PA: Consider the following situations and determine (1) which type of liability should be recognized...
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Bart has the following income and expenses for his Schedule C:
1099-MISCs received: | ||||
Jack’s Builders | $ | 42,000 | ||
Smith’s Fine Homes | 35,750 | |||
Murphy’s Builders | 24,730 | |||
Total Revenue | $ | 102,480 | ||
Wages | (46,000 | ) | ||
Payroll taxes | (3,519 | ) | ||
Payroll tax penalties | (300 | ) | ||
License fee | (200 | ) | ||
Supplies | (5,300 | ) | ||
Cell phone | (588 | ) | ||
Meals | (3,000 | ) | ||
Internet service | (780 | ) | ||
What is Bart's self-employment income?
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