[impska]

I’m studying with Becker and my REG exam is coming up. One of the types of Sims I’m encountering is one that has a table where you’re supposed to enter the amount that is included in gross income and then a column for the amount that is excluded.

Here’s an example from REG 1, SIM 1.2:

Sch C Revenues of $50000, Cogs 10000, Office supplies $1000, Business Meals $4000, FICA of $2600 And Salary to the Sole Proprietor of $25000.

So in the column for “Included in Gross Income” there’s $37,000 (no problem there).

In the column for “Excluded” the solution says: “FICA taxes of $5200 is approximate; 50% of Meals is excluded; Salary to self is a draw (not a deduction).” .

Maybe the people from Becker and I are answering different questions, but that doesn’t look like a dollar amount to me! On the real test, am I supposed to write all of that in the box? Am I supposed to put $26000 as the excluded amount?

I understand the answer – I don’t want to get SIMs wrong because I don’t know how to format it.

REG - 94
BEC - 92
FAR - 92
AUD - 99

[Anonymous]

On the real exam, it will be self explanatory. In my experience, there was one box per answer. My actual sims were closely related to the WTB so I can't comment on Becker's SIM but don't worry about what goes where. The most important thing is that you KNOW the material which its sounds as if you do based on this question.

[Anonymous]

On the real exam, it will be self explanatory. In my experience, there was one box per answer. My actual sims were closely related to the WTB so I can't comment on Becker's SIM but don't worry about what goes where. The most important thing is that you KNOW the material which its sounds as if you do based on this question.

[Priscilla]

I use Becker. send me your email and we can go over it together.

Thanks

AUD - Done
REG - Done
BEC - Done
FAR - August 2015

[Priscilla]

I use Becker. send me your email and we can go over it together.

Thanks

AUD - Done
REG - Done
BEC - Done
FAR - August 2015

[Author]

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