Mike Is a Self-Employed TV Technician

question 5

Essay

Mike is a self-employed TV technician.He is usually paid as soon as he completes repairs, but occasionally bills a customer with payment expected within 30 days.At the end of the year he has $2,500 of receivables outstanding.He expects to collect $1,200 of this and write off the remainder.Mike is a cash basis taxpayer and had net earnings from his business (not including the effect of the items above) of $55,000.He also had $3,500 interest income, $200 gambling winnings, and sold corporate stock for $7,000.The stock had been purchased in 2009 for $8,200.Mike is single, has no dependents, and claims the standard deduction.What is his 2012 taxable income? (Ignore the self-employment tax deduction.)

Understand the concept of learned helplessness and its psychological implications.

Understand the basic concepts of classical conditioning, including unconditioned and conditioned responses and stimuli.

Comprehend the principles of operant conditioning, including different reinforcement schedules and the concepts of reinforcement and punishment.

Grasp the significance of observational learning and identify the factors necessary for it to occur.

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Definitions:

Voting Stock

Shares that give the shareholder the right to vote on corporate matters, such as electing the board of directors.

Contingent Payment

A payment that depends on the occurrence of a specific event or the meeting of certain conditions in the future.

Cash Flows

The net amount of cash being transferred into and out of a business, indicating its financial health.

Probability-Weighted

A method that assigns weightings to different potential outcomes based on their likelihood of occurrence, used in various analyses including risk assessment and decision making.