Brandywine homecare, a not-for-profit business, had revenues of $12 million in 2015. expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million. all revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash. a. construct brandywine’s 2015 income statement.

Which are the best examples of costs that should be considered when creating a project budget?

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?