Blythe, a real estate broker, had the following income and expenses in her business. How much net income must Blythe report from this business? a. $160.000 b. $158.500 c. $134.000 d. $104.000
Solution
Solution-
c. 134,000
Calculation-
Net income must Blythe report from this business = Commissions income - Referrals ffes paid to brokers (not illegal under state law) - Travel and transportation - Supplies - Office and phone
Net income must Blythe report from this business = $160,000 - $11,000 - $6,000 - $5,000 -$4,000
Net income must Blythe report from this business = $134,000
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4.18.24 Movement Legacies, Reflection, and Review.pptx
Blythe- a real estate broker- had the following income and expenses in.docx
1. Blythe, a real estate broker, had the following income and expenses in her business. How much
net income must Blythe report from this business? a. $160.000 b. $158.500 c. $134.000 d.
$104.000
Solution
Solution-
c. 134,000
Calculation-
Net income must Blythe report from this business = Commissions income - Referrals ffes paid to
brokers (not illegal under state law) - Travel and transportation - Supplies - Office and phone
Net income must Blythe report from this business = $160,000 - $11,000 - $6,000 - $5,000 -
$4,000
Net income must Blythe report from this business = $134,000
