Help please You have been offered two different jobs for the upcoming summer. Since both are full-time positions, you must choose to work only one of the jobs.The first job is in an office. The pay will be $700 per week. The office is located 20 miles from your home, so you estimate that you will spend $50 per weekon gas. You will also have to pay $50 per week for parking. Because you are required to dress professionally, you will need to purchase some new clothes. Youestimate that you will spend $420 on new clothes for this job during the summer.The second job is at an amusement park. The pay will be $520 per week. The amusement park is also 20 miles from your home, but you can carpool with afriend. Your share of the gas will be $25 per week. There is no charge for parking. The amusement park will furnish you with a uniform, so you won't need tobuy any special clothes.Assuming that your summer break will allow you to work 12 weeks, which job will provide you with more money? Calculate the Net Income from both jobs.Make sure you detail your calculations.What qualitative factors may convince you to take the lower paying job?

Net income=Total revenues-Total expenses

Answered: You have been offered two different…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 49P

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You have been offered two different jobs for the upcoming summer. Since both are full-time positions, you must choose to work only one of the jobs. The first job is in an office. The pay will be $320 per week. The office is located 20 miles from your home, so you estimate that you will spend $25 per week on gas. You will also have to pay $25 per week for parking. Because you are required to dress professionally, you will need to purchase some new clothes. You estimate that you will spend $350 on new clothes for this job during the summer. The second job is at an amusement park. The pay will be $220 per week. The amusement park is also 20 miles from your home, but you can carpool with a friend. Your share of the gas will be $12.50 per week. There is no charge for parking. The amusement park will furnish you with a uniform, so you won't need to buy any special clothes. Assuming that your summer break will allow you to work 12 weeks, which job will provide you with more money? Please…
You have been offered two different jobs for the upcoming summer. Since both are full-time positions, you must choose to work only one of the jobs. The first job is in an office. The pay will be $700 per week. The office is located 20 miles from your home, so you estimate that you will spend $50 per week on gas. You will also have to pay $50 per week for parking. Because you are required to dress professionally, you will need to purchase some new clothes. You estimate that you will spend $420 on new clothes for this job during the summer. The second job is at an amusement park. The pay will be $520 per week. The amusement park is also 20 miles from your home, but you can carpool with a friend. Your share of the gas will be $25 per week. There is no charge for parking. The amusement park will furnish you with a uniform, so you won't need to buy any special clothes. Assuming that your summer break will allow you to work 12 weeks, which job will provide you with more money? Calculate the…
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Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow:(1) Work full time at a local accounting firm making $3,600 per month.(2) Take a summer class which will cost $800 and work half time making $1,100 per month.(3) Take a class at a cost of $800 and not work at all during the summer.Elroy's incremental profit or loss if he chooses option 2 over option 1 would be Round to two decimal places.

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