What is the difference between active income, passive income and portfolio income? Provides examples of the most prevalent types of each of those incomes. How do deductions from these three types of income vary?

Q: nces Molly Mocha employs one college student every summer in her coffee shop. The student works the…

A: The accrued salaries are the salaries which are due for payment but not yet paid. The accrued…

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A: The operating cycle represents the process of a block of money on the purchase of materials,…

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A: The balance sheet may be broken down into two categories, assets and liabilities, in its most basic…

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A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…

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A: In job costing, overhead is allocated to the job on an allocation basis. Allocation basis could be…

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A: The common-size statements are prepared by the entities to analyze the percent variation in the…

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A: Introduction: A predetermined overhead rate is a rate that is assigned to variable manufacturing…

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A: According to the given question, we are required to compute the financial ratios of XYZ Limited.…

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A: List Price The list price is the stated price at which a product is made available for purchase…

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A: Cost allocation refers to the process of distributing the single cost among various companies,…

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A: Depreciation is the allocation of cost of asset over the useful life of the asset. It can be charged…

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A: Lets understand the basics. Break even point is a point at which fixed cost equals to contribution…

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A: Bond :— It is one of the source of capital that gives fixed periodic interest and face value at the…

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A: Target costing is a costing concept which helps in calculating target cost so that desired level of…

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Q: Create a General Journal, Ledger, and Trial Balance.

A: A ledger is made by the company so that the respective account related balances could be recorded in…

Q: Given the following tax structure: Taxpayer Mae Pedro Salary $ 32,000 $ 49,000 Total tax $3,200 PPP

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Q: 13. Asher Company manufactures fans with direct material costs of P10 per unit and direct labor of…

A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…

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Q: BBP, Inc., with sales of $600,000, has the following balance sheet:   BBP, Incorporated Balance…

A: Additional Funds Needed = Projected Increase in Assets - Spontaneous Increase in Liabilities - Any…

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A: Issuance of bonds is one of the form of liability for the business, on which regular interest…

Q: 18. DSP Company earned P100,000 on sales of P1,000,000. It earned P130,000 on sales of P1,100,000.…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: These are wrong except for net position restricted

A: Net position is the position which has been determined to the government so that the position of the…

Q: P2-2B Maria Juarez is a licensed dentist. During the first month of the operation of her busi- ness,…

A: General Journal :— It is an act of recording transaction in books of account when it is occurred.…

Q: Chuck, a single taxpayer, earns $78,400 in taxable income and $13,800 in interest from an investment…

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A: Journal entries: - Journal is a book of original entries in which transactions are first recorded in…

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A: Ratio Analysis :— Ratio analysis is the process of Determination and Interpretation numerical…

Q: Net Sales? Total Manufacturing Costs? Cost of Goods Manufactured?

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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Q: Requirements: a. Journal entry on the day they patented the vaccine. b. Journal entry for the…

A: The vaccine's total cost of research adn development = $550000000 Useful life = 5 years

Q: The accountant of Hanoi Traders completed the subsidiary journals for the entity. Extracts from the…

A: Bank A/c = R53,880 Debtors Control A/c = R37,539 Creditors Control A/c = R48,951

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Q: Given the following projected contribution * income statement for the coming year: Sales (100 units)…

A: Variable Cost :— It is the cost that changes with change in units.    Contribution Margin :— It is…

Q: What is the audit team's objective in obtaining an overall understanding of internal control in a…

A: The term "audit" has a fairly broad definition; it simply means to carefully scrutinize anything.…

Q: Blum Services has the following unadjusted balances at year-end. Cash $12,900 Prepaid insurance…

A: The unadjusted trial balance seems to be a trial balance that is unadjusted and produced before…

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A: High low method is used to segregate the semi variable or mixed cost into two separate costs i.e.…

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Q: a. On July 1, Lopez Company paid $2,000 for six months of insurance coverage. No adjustments have…

A: Adjusting entry of above transaction are as follows

Q: During 2020, Devonte had the following deductions and adjustments to income: Schedule C (Form 1040)…

A: The correct answer is option - $33,400

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A: Transfer pricing is that methodology under which product from one division is transferred to another…

Q: Calculating Ratios and Estimating Credit Rating The following data are from Kellogg's 10-K report…

A: Ratio Analysis :— Ratio analysis is the process of Determination and interpreting Numerical…

Q: You have been provided with the following Trial Balance for Jojo & Lulu Ltd. Jojo & Lulu Ltd…

A: The financial statement includes income statement, balance sheet, and cash flow statements. It helps…