Cash basis of accounting

Case Study You started a business as a sole proprietor called Tax Consulting LLC. You provide tutoring services to college students to help them pass the Enrolled Agent exam. As a part of your tutoring services you sell authorized copies of Gleims textbook. In addition you operate on a cash basis of accounting. Fast forward: Youve been in business for a full year and its now time for you to file your Schedule C Form. Assume you gathered the following information: Tax Consulting LLC Business Expenses

1. You collected $100000 in cash for tutoring services.

2. You have 10 hours of tutoring for the last week of December that was not billed to students at the rate of $60 per hour.

3. The total rent for your office is $2500 per month.

4. Utilities total $1800 for the year.

5. You paid a part-time receptionist $5000 to answer the phone and make appointments.

6. You paid yourself a salary of $25000 for the year.

7. Your total costs for office supplies such as pens paper etc. totaled $3000 for the year.

8. You decide that the education system is lagging in your city and you donate $1000 to your local high school.

9. You purchased 50 Gleim books for $5 each and you sold 35 of them for $15 each.

10. The total miles on your automobile for the year equal 10000 miles of which 2000 miles were for business purposes. Assume the mileage rate is .545 cents per mile.

11. Depreciation expense on office furniture is $500 for the year.

12. You paid $4000 for personal health insurance for the year.

13. You take prospective clients out to lunch to discuss services. Your cost for meals for the year is $2000.

14. Your advertising costs total $100 for the year. Using the Lesson 3 Case Study Template calculate the net loss or net profit based on the information you learned in the lesson. I have attached the template and the notes. Also I can provide pdf book Please do not copy anything from any google resources. Solve your own answer

Requirements: 1 | .doc file

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages

Order your paper today and save 30% with the discount code HAPPY

error: Content is protected !!
Open chat
You can contact our live agent via WhatsApp! Via + 1 323 412 5597

Feel free to ask questions, clarifications, or discounts available when placing an order.