Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bebe jackson is a successful, 30-year old attorney

Bebe Jackson is a successful, 30-year old attorney, social security no. 255-10-0000. She has a...

60.1K

Verified Solution

Question

Accounting

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.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

A) Find the directional derivative of the function at the given point in the direction of...

Physics
1.2K views

Fission of nuclei is possible because the binding energy per nucleon in them Increases with...

Physics
1.2K views

2 6 A particle is oscillating according to the equation X 7cos 0 5 mt...

Geometry
1.2K views

2 What is the 3D figure that is produced when the triangle below is continuously...

Statistics
1.2K views

Each of two parents has the genotype green/brown, which consists of the pair of alleles...

Calculus
1.2K views

OA If b 0 and b 1 then c If b 0 and b 1...

Algebra
1.2K views

The graph of y=5^(x-13)+70 is the graph of y=5^x shifted how?State the direction of each...

Accounting
1.2K views

Pronghorn Ltd. manufactures a line of amplifiers that carry a three-year warranty...

Accounting
1.2K views

A company purchased a commercial dishwasher by paying cash of $5,600. The dishwasher's fair value...

Accounting
1.2K views

Plese help, I don't understand how to complete this Jasper Junction Corporation (JJC) is...

Accounting
1.2K views

if X and Y agree to establish partnership with total capital 36,000 divided 2:1 respectively...

Finance
1.2K views

please help needed Stocks A and B have the following returns: ON...