Dana, runs an illegal gambling joint and here are her expenses and income. Gross income $300,000...
Dana, runs an illegal gambling joint and here are her expenses and income.
Gross income $300,000
Expenses:
Rent $30,000
Maintenance $6000
Bribes to police $20,000
Supplies. $4,000
Food and drink costs $15,000
Accounting and legal. $10,000
Fines and penalties. $8,000
Depreciation. $10,000
Calculate her net taxable income from the gambling joint.
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Dana, runs an illegal gambling joint and here are her expenses
and income.
Gross income $300,000...
3. Dana, who around the city is generally referred to simply as "The Dane," runs an...
3. Dana, who around the city is generally referred to simply as "The Dane," runs an illegal gambling joint. Here are her income and expenses. Calculate her net taxable income from the gambling joint. Gross Income/Sales $300,000 Expenses Rent $30,000 Maintenance and Cleaning $6,000 Bribes to police and inspectors $20,000 Supplies $4,000 Food and drink costs $15,000 Accounting and Legal $10,000 Fines and penalties paid $8,000 Depreciation $10,000
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