1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bogdanovich [222]
1 year ago
11

t is now time for jay to complete his tax return. jay is 28 years old and is in a relationship with sandra, planning to get marr

ied next year. calculate jay's tax liability.
Business
1 answer:
vagabundo [1.1K]1 year ago
8 0

$2,860.50

Tax liability is the total amount of tax that people and companies owe to the federal, state, and local governments in a specific time frame. Tax liabilities are short-term obligations for firms that are listed on a balance sheet and paid off within a year.

<h3>What is accounting for tax liability?</h3>

The amount of taxes you owe is known as your tax liability. For those who are working, determining their income tax on Form 1040 normally only requires them to examine the year's tax tables.

On a company's balance statement, deferred long-term liability costs are listed with other long-term loans. They are listed on income statements as losses or expenses. Deferred tax obligations are one type of deferred long-term liability charge.

To learn more about accounting for tax liability refer to:

brainly.com/question/6646339

#SPJ4

You might be interested in
An establishment owned by two or more persons in which only one person has unlimited personal liability for the business describ
chubhunter [2.5K]
Limited partnerships
4 0
3 years ago
Aim higher college has deployed an open source blog package. this package uses a database backend and allows users to create use
Svetradugi [14.3K]
The application administrator should tighten measures on the external application used in the database backend especially when it comes to creating user IDs in order to prevent unauthorized users - any off-campus or even non-affiliated users to indiscriminately post links, especially malware and malicious ones. This can be done by selecting a viable verification method in order to only allow on-campus students to sign-up to the service. 
4 0
3 years ago
Harry, Hermione, and Ron formed an S corporation called Bumblebore. Harry and Hermione both contributed cash of $30,000 to get t
tatyana61 [14]

Answer:

Harry and Hermione $30,000

Ron’s $19,300

Explanation:

Calculation to determine What tax bases will each of the three have in his or her stock of Bumblebore

Based on the information given we were told that both Harry and Hermione contributed cash of the amount of $30,000 to get things started which means that Harry and Hermione TAX BASES will be $30,000

Calculation for Ron’s Tax bases

Using this formula

Ron’s Tax bases=Basis of the property contributed-Mortgage

Let plug in the formula

Ron’s Tax bases=$60,000-$40,700

Ron’s Tax bases=$19,300

Therefore Harry and Hermione tax based will be $30,000 and Ron’s Tax bases will be $19,300

7 0
3 years ago
The goal of customer relationship management is to
viktelen [127]
Enhancing, Retaining, Satisfying and Attracting.
6 0
3 years ago
Sneed Corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. The entry to record the transaction
NARA [144]

Answer:

a.Preferred Stock for $475,300

and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.

Explanation:

The par value it's a minimum price that the company assigns to the issued shares only to be used in the accounting system but it's not related to market price.    

This par value will be shown as a separate value in the section of stockholders' equity, reported under the item Paid-in-Capital, the difference with the market price it's reported as Preferred Stock.    

Cash                                                                            $640.200  Debit  

Preferred Stock                                                     $475.300  Credit  

Paid-In Capital in Excess of Par—Preferred Stock  $164.900  Credit  

7 0
3 years ago
Other questions:
  • Of the seven different personality dimensions (Big Five, locus of control, self-monitoring) which is most important to organizat
    9·1 answer
  • A smartphone manufacturing company uses social media to achieve different business objectives. Match each social media activity
    10·2 answers
  • g In translating the financial statements of a foreign subsidiary into the parent’s reporting currency under the current rate me
    12·1 answer
  • Consider your current company, or a company that you have formerly worked for, and describe and critique the budgeting processes
    11·1 answer
  • Mattel Inc.’s 2016 financial statements show operating profit before interest and tax of $519,233 thousand, net income of $318,0
    11·1 answer
  • Of the following statements about trade, which is NOT true? Trade generates jobs in both export and import sectors of an economy
    10·1 answer
  • Atom Endeavour Co. issued $21 million face amount of 4.0% bonds when market interest rates were 4.46% for bonds of similar risk
    5·1 answer
  • Under a capitalistic system, decisions such as what goods and services to produce, what to charge, and how much to import or exp
    11·1 answer
  • The process specifications are 12.45 and 13.45 minutes. Based on the data given, does it appear that specifications are being me
    14·1 answer
  • The second step in the repetition strategy is to_____________the information.
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!