Required information [The following information applies to the questions displayed below.] Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following transactions occurred. July 3 July 6 July 9 July 14 Joan provides lawn services to Sally's repair shop on account, $300. One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250. Sally pays $300 to Joan for lawn services provided on July 3. Sally borrows $400 from Joan by signing a note. Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120. Joan pays $250 to Sally for services provided on July 6. July 18 July 20 July 27 Sally performs repair services for other customers for cash, $600. July 30 Sally pays employee salaries for the month, $100. July 31 Sally pays $400 to Joan for money borrowed on July 14. Required: 1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) > Answer is not complete. No 1 Date July 03 General Journal Accounts Receivable Service Revenue 2 July 06 Repairs and Maintenance Expense Accounts Payable 3 July 09 Cash Accounts Receivable Debit Credit 300 300 250 250 300 300 4 July 14 Notes Receivable Cash 400 400 5 July 18 Advertising Expense 120 Cash 120 6 July 20 Accounts Payable Cash 250 250 7 July 27 No Journal Entry Required 8 July 30 No Journal Entry Required 6 July 31 Cash Notes Receivable × 400 400

Kishori owns a rental property; her tenant, Daria, paid $1,200 per month in rent, except for March, April, and May. Daria did extensive electrical work and repaired two windows in the house in exchange for the rent for those months. Kishori paid: $2,100 for insurance. $2,750 real estate taxes. $311 pest control. $75 office supplies. $719 for HVAC service. What is Kishori's allowable expense total? $5,644 $5,880 $5,955 $9,555

Ekon owns a small tow-truck business that responds to state patrol requests to tow cars involved in wrecks, as well as to private business requests from customers at various auto repair shops and individuals with stalled autos. Ekons business is open 24/7 for 365 days a year. He is starting to see too many repairs on his three trucks, which either means that he loses business or must divert a truck from another area. He is now trying to consider whether it is best to continue use of the current trucks or whether he needs to invest some money in new trucks. Using the steps for the process of capital decision-making, create an outline with sub-steps that include questions Ekon can use to guide his investigation or considerations of buying new truck.

Godo

Veronica mows lawns during the summer. In 2021 she was paid directly by homeowners for her work, in some case on the basis of the completed job, in other cases at an hourly rate. Her friend Jonathan does the same work. However, he is paid at an hourly rate by a lawn maintenance company. Which of the following statements is correct? Veronica earns business income and Jonathan earns employment income. Veronica will be able to deduct more expenses than Jonathan Veronica and Jonathan both earn employment income Veronica earns business income and Jonathan earns employment income. Their deductible expenses will be the same Veronica and Jonathan both earn business income

Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start- up company. What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use Exhibit 8-10 d. Julie paid $3,300 to the day care center and her AGI is $401,200 (all salary). Child and dependent care credit

Charlie, a self-employed financial planner, had the following expenses in 2021 in the following amounts:   Gift To Haley, Charlie's professional assistant   $36 Gift To Darryl (a key client, includes $3 for gift wrapping)     28 Gift To Darryl's daughter for her graduation (not a client)     20 Gift To Veronica, Charlie's personal hair stylist      30 In addition, Charlie took Haley to lunch at a local restaurant on administrative professional's day     62   Assuming that Charlie has adequate substantiation, how much can he deduct? Please show calculations or explanation.

Janice Morgan, age 24, is single and has no dependents. Janice works as an employee from Worldwide Publishing and also as a freelance writer. In January 2019, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, NM 88135. She called her freelance writing business Writers Anonymous (self employed). Both Writers Anonymous and Janice operate on the cash basis. She lives at 132 Stone Avenue, Pleasant Hill, NM 88135. Her Social Security number is 123-45-6789. Self Employed Information: Income from sale of articles 75,000 Rent 13,500 Utilities 7,900 Supplies 1,800 Insurance (business liability) 5,000 Travel (assume fully deductible) 2,300 Meals (while on business travel) 600 Meals (while meeting with clients) 600 Country Club (Used to entertain clients) 4,000 Client entertainment expenses 1,000 Personal items: Wages from Worldwide Publishing $110,000 Interest from checking account from First Bank 4,000 Home mortgage interest paid to First Bank 10,000 (Secured by…

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Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start- up company. What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use Exhibit 8-10 b. Julie paid $5,650 to the day care center and her AGI is $52,600 (all salary). Child and dependent care credit