How much expenses can q deduct on his schedule c, Accounting Basics

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How much expenses can q deduct on his schedule c

Q starts a sole proprietorship by spending all of the following on January 11, 2012. He spent $13,000 on office supplies/expenses. He spent another $13,000 in advertising. Finally, he spent $2,000 in meals and entertainment with potential leads. He officially opens his doors for business on November 1, 2012. How much expenses can Q deduct on his Schedule C in 2012?

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Accounting Basics: How much expenses can q deduct on his schedule c

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Accounting Basics: How much expenses can q deduct on his schedule c

Reference No:- TGS0705037

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Recent Questions Asked Accounting Basics

Q : What is us basis in the property

Q : How and when should needcash account for the exchange

Q : How much income does the sole proprietorship have to report

Q : What other ratios might be useful in your analysis

Q : How much expenses can q deduct on his schedule c

Q : Determine the average costing instead of fifo

Q : What would be the per drum cost

Q : Explain the amount of differential cost increase

Q : What level of sales for the two-month period

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much expenses can q deduct on his schedule c

Reference No:- TGS0705037

Recent Questions Asked Accounting Basics

Q : What is us basis in the property

Q : How and when should needcash account for the exchange

Q : How much income does the sole proprietorship have to report

Q : What other ratios might be useful in your analysis

Q : How much expenses can q deduct on his schedule c

Q : Determine the average costing instead of fifo

Q : What would be the per drum cost

Q : Explain the amount of differential cost increase

Q : What level of sales for the two-month period

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