Sandy Is a Self-Employed Health Information Coder

question 27

Multiple Choice

Sandy is a self-employed health information coder.She has net earnings (profit) from her business of $71,200.Her self-employment taxes for the year are: (Round your answer to 2 decimal places. )

• A)$10,060.24.
• B)$10,066.24.
• C)$10,680.00.
• D)$10,893.60.

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Definitions:

Original Cost

Original Cost refers to the initial monetary value of an asset or investment at the time of purchase, before any depreciation, amortization, or impairment charges are applied.

Accumulated Depreciation

The cumulative depreciation expense registered for an asset from the time it was initially utilized.

Commercial Substance

An accounting principle that transactions should result in a real change to the economic circumstances of a company, as opposed to being conducted for appearance's sake.

Invoice Price

The amount shown on an invoice as the price of goods or services, prior to any discounts or adjustments.