Problem 10-02(Algo)[LO 10-1] Rhea Xu is a self-employed professional singer. She resides...
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Accounting
Problem AlgoLO
Rhea Xu is a selfemployed professional singer She resides in a rented apartment and uses one room exclusively as a business office. This room includes of the square feet of living space in the apartment. Ms Xu performs in recording studios and concert halls, but she conducts all of the administrative duties with respect to the business in her home office. This year, Ms Xus apartment rent was $ She paid $ to a housekeeping service that cleaned the entire apartment once a week and $ for renters insurance on the apartment furnishings.
Required:
Compute Ms Xus home office deduction assuming that her net profit before the deduction was $
Compute Ms Xus home office deduction assuming that her net profit before the deduction was $
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