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3 years ago

Why might you complete a 1040 form instead of a 1040 EZ tax form?

Business

2 answers:

valentina_108 [34]3 years ago

6 0

You may use Form 1040EZ if you meet all the following conditions

sergij07 [2.7K]3 years ago

6 0

You might fill out a 1040 instead of a 1040EZ if you don't meet the right requirements.
To fill out the 1040 EZ your taxable income must be less than 100,000, you claim no dependents, taxable interest is less than 1,500, etc

If you don't meet certain requirements for the 1040 EZ you have to fill out a 1040

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Five days after signing a contract to purchase a new timeshare in North Carolina, the buyer cancels the timeshare contract. Acco

dangina [55]

Answer:

Under north Carolina's laws, the developer must refund the buyer's money within a 30 day period since the purchase date. North Carolina law also sets a deadline of 5 calendar days to cancel a timeshare contract, so this buyer barely made it on time. A buyer cannot waive his right to cancellation, even if the option is not included in the contract.

6 0

3 years ago

Outline one factor that might be helpful about having a clear target market

Usimov [2.4K]

Answer:

Being able to find other entrepreneurs that are interested in the same target market, learning from their experience, asking for their help and building PR relations

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4 years ago

Ajax Computer Company is an accrual-method calendar-year taxpayer. Ajax has never advertised in the national media prior to this

SOVA2 [1]

Answer: No deduction can be claimed this year.

Explanation:

The options to the question are:

a. No deduction can be claimed this year.

b. $5.50 million

c. $2,500,000

d. $5.50 million only if the professional golf tournament is played before April 15.

Answer:

Since Ajax Computer company is an accrual method calender-year tax payer, the computer company would recognize the expenses only when such expenses are incurred and not at the time that cash is being paid for the the expenses

Ajax computer company already paid in advance for both advertisements the following year even though the advertisement eanst taking place that year. Therefore, the payments will not be considered to be an expense until advertisements has actually taken place. Because of this, Ajax cannot deduct the amounts paid for the advertisements next year and hence, no deduction will be claimed this year.

4 0

3 years ago

Singh Co. reports a contribution margin of $960,000 and fixed costs of $720,000. (1) Compute the company’s degree of operating l

Alex

Answer: 1. Degree of Operating Leverage = 4

2. $384,000

Explanation:

1. Degree of Operating Leverage is calculated by dividing the Contribution margin by the Net Operating income.

Now, the Contribution margin is the difference between Price and Variable Cost. This means that if you remove fixed costs from it as well you get your profit.

Therefore 1. can be calculated thus,

Degree of Operating Leverage = Contribution Margin / Net Operating income

Degree of Operating Leverage = 960,000 / 960,000 - 720,000

Degree of Operating Leverage = 4

2. When Sales increases by a certain percentage we multiply that percentage by the Degree of Operating Leverage to find out how much Income will increase by.

Because sales went up by 15%, Singh Co. can expect that income would rise by,

= 15% * 4

= 60%.

Now income is Contribution margin - fixed costs so we have,

Income = 960,000 - 720,000

Income = $240,000

An increase of 60% would be

= 240,000( 1+ 60%)

=$384,000

$384,000 is the amount of income that Singh Co. can expect.

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3 years ago

Division A manufactures an aircraft engine component with unit variable product cost of $38 and market price of $50. Division A

olya-2409 [2.1K]

Answer:

The maximum transfer price would be $50.

Explanation:

The maximum transfer price is nothing but the market price for the product , which is the most simple way to derive a transfer price . Here by selling the components of aircraft engines at market price, there are very good chances of high profits to be earned. So the maximum transfer price should be $50.

7 0

3 years ago