Answered

IDNLearn.com is your go-to resource for finding answers to any question you have. Our community provides accurate and timely answers to help you understand and solve any issue.

Deazia is the sole proprietor of Baldwin Hair Salon that reported net income of $44,000 for the year. During the year she withdrew $20,000 from the business for personal use. How much income from the above must Deazia include in her gross income for the year

Sagot :

Abiolataiwo2015idn

Answer:

$44,000

Explanation:

Based on the given information we were told that the sole proprietor reported NET INCOME of the amount of $44,000 for the year which means that the amount of income from the above that Deazia must include in her GROSS INCOME for the year will be the reported NET INCOME amount of $44,000.

Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! IDNLearn.com is committed to your satisfaction. Thank you for visiting, and see you next time for more helpful answers.