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alisha [4.7K]
2 years ago
13

A person completes her federal 1040EZ form and sees that she paid total quarterly estimated taxes of $12,000. But the calculatio

ns show that she should have paid only $9,500 in taxes. What will happen if she sends the IRS this completed form with the necessary supporting documents
Business
1 answer:
kiruha [24]2 years ago
7 0

What will happen if she sends the IRS this completed form with the necessary supporting documents is: They will receive a federal tax refund of $2,500.

<h3>What is 1040EZ form?</h3>

1040EZ form is a form which a tax payable is expected to fill but this form is less complex compare to 1040 form as only few important  details of the taxpayer is expected to be fill out in the form.

Hence what will happen if she sends the IRS the completed form is:

Federal tax refund=Total quarterly estimated form-Tax amount

Federal tax refund=$12,000-$9,500

Federal tax refund=$2,500

Therefore they will receive a federal tax refund of $2,500.

Learn more about 1040EZ form here:brainly.com/question/1396478

#SPJ1

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Companies support the adoption of international financial reporting standards because
I am Lyosha [343]
<h2>IFRS brings transparency, accountability and efficiency to finanacial market across the globe.</h2>

Explanation:

IFRS - International Financial Reporting Standards

Transparency:

  • Done by enhancing the

            a) international comparability

             b) quality of financial information,

  • enabling investors to make "economic decisions"

Accountability:

  • It strengthens this aspect by reducing the information gaps

Efficiency:

  • Helps investors to identify market opportunities
  • Alert about the risks across the world
  • lowers the Capital cost
3 0
4 years ago
Let A equal the reported inventory value if the lower-of-cost-or-market rule is applied to individual items of inventory while B
Lera25 [3.4K]

Answer:

The correct answer is A will always be equal to or less than B.

Explanation:

In general terms, inventory is valued in terms of cost. But there must be a deviation from the cost basis of the inventory valuation and it must be reduced below cost when the utility of the goods has decreased and its sale product or item value will be less than its cost.

The decrease in the value of inventory below cost can be due to different causes, such as physical deterioration, obsolescence, a drop in the price level, etc. In these situations, the inventory is recorded at its market value. The difference in value (cost-to-market value) is recognized as a loss for the current period. It should be understood that the market value of the inventory must be estimated since the inventory has in fact not been sold. As a general rule, the concept of market value is used in terms of the current replacement cost of inventory, that is, what it will currently cost to purchase or manufacture the item.

5 0
3 years ago
defined by miles as ""a requirement of the activities of one subunit that is affected by the activities of other subunits"" is a
nevsk [136]

A reliance is described by miles as ""a need of the behaviors of one member that is impacted by the operations of other subunits"".

<h3>What does a protein subunit do?</h3>

Amino acid single chains serve as the building blocks for multimeric PROTEINS. The subunits of multimeric proteins might be similar or dissimilar. A protomer is a subunit shape of a bigger assembly made up of one or maybe more monomeric subunits.

<h3>What number of subunits makes up a protein?</h3>

Each component is necessary for both life and RNase P action. Pop8p is the sole acidic protein with just a pI of 4.5, although Pop5p has a pI of 4.5. Of nine protein subunits, most of proteins are very basic at isoelectric points (pI) more than 9.

To know more about Subunits visit :

brainly.com/question/28170213

#SPJ4

7 0
1 year ago
Bud exchanges land with an adjusted basis of $22,000 and a fair market value of $30,000 for another parcel of land with a fair m
DanielleElmas [232]

Answer:

The recognized gain or loss of Bud is $2,000

Explanation:

The aggregate market value is computed as:

Aggregate market value = Fair market value + Cash

= $28,000 + $2,000

= $30,000

The recognized loss or gain of Bud is computed as:

Recognized gain or loss = Aggregate market value - Fair market value

= $30,000 - $28,000

= $2,000

So, it is a gain of $2,000

4 0
3 years ago
Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government own
Eduardwww [97]

Answer:

The correct answer is letter "D": Planning.

Explanation:

Planning, among the management skills, represents the ability executives have to outline ways to help companies to achieve their goals. The firms' strategies and how they will allocate their resources to achieve maximum efficiency one of the responsibilities of managers must place special attention to in the planning process.

8 0
3 years ago
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