|
Title: John fishes for a living. Last year, he sold $100,000 of fish. Bait, nets and other fishing supplies Post by: Loraine on Jun 21, 2015 John fishes for a living. Last year, he sold $100,000 of fish. Bait, nets and other fishing supplies cost John $10,000 and he paid $40,000 in salaries to his helpers. Depreciation on his boat and other equipment, as calculated using IRS rules, was $15,000. What was John's profit as would be calculated by an accountant?
A) $165,000 B) $100,000 C) $65,000 D) $35,000 E) None of the above answers is correct. Title: Re: John fishes for a living. Last year, he sold $100,000 of fish. Bait, nets and other fishing supp Post by: Chimelo46 on Jul 30, 2015 Content hidden
Title: Re: John fishes for a living. Last year, he sold $100,000 of fish. Bait, nets and other fishing supplies Post by: Chimelo46 on Aug 31, 2015 It was nothing, thanks for updating us.
|