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  3. fee income 2,000,000 interest income 25,0

Fee Income 2,000,000 Interest Income 25,000...

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Question

Accounting

Fee Income 2,000,000
Interest Income 25,000
Total Revenue 2,025,000
Salaries and wages 600,000
Rent 24,000
Charitable contributions 1,000
Utilities 2,000
Office Supplies 1,500
Autotmobile Expenses 5,000
Telephone 3,500
Repairs and Maintenance 800
Amortization-organization expense 30,100
Depreciation 8,500
Fee to Harry 5,000
Employee Benefits 60,000
Postage 200
Entertainment Expenses 3,500
Insurance 5,000
Litigation expense 10,000
Interest Expense 500
Total Expenses 760,600
Net Income 1,264,400
Less Separately stated items

Calculate Taxable Income

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