Pierre makes birdhouses in his spare time

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Question # 00332255 Posted By: rey_writer Updated on: 07/05/2016 07:41 AM Due on: 07/05/2016

Subject Accounting Topic Accounting Tutorials:

Question

Pierre makes birdhouses in his spare time. He earned $4,800 selling the birdhouses during the year and incurred expenses as follows:

Supplies	$3,500
Depreciation on tools	975
Booth rental at craft fairs	300
Vendor registration fee for art festival	100
Total	$4,875

His AGI, without considering the effect of the sales of the birdhouses, is $31,000 and his personal exemption is 4,000.

Calculate the following if the activity is:

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score 3 · Accepted Answer · 07/05/2016 07:42 AM

Solution: Pierre makes birdhouses in his spare time

Tutorial # 00327789 Posted By: rey_writer Posted on: 07/05/2016 07:42 AM

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