Answer:
The correct answer is a. Preparing a tax return is a fairly simple process, if you know what documents you need.
Explanation:
Terror should not be imposed on people, due to the complexity that in some cases merits the professional advice of an accountant. For this reason, the best thesis that Morgan can use is to make them see that the process does not really involve excessive efforts if you have all the information at hand. The basic premise in tax matters is the organization, the basic knowledge of the standard ensures important levels of trust.
Answer:
$44,928,000
Explanation:
The fact that 416,000 received a refund of $3,600 each means that the tax authority would lose the interest income that could have been generated on the total refund amount based on a 3% interest rate of return.
Lost annual income=number of people who got refund*average refund per person*interest rate of return
number of people who got refund=416000
average refund per person=$3,600
the interest rate of return=3%
Lost annual income=416,000*$3,600*3%
Lost annual income=$44,928,000
Answer and Explanation:
The computation of the unit cost for material and conversion cost is shown below:
Material Cost per Unit is
= Total Material Cost ÷ Equivalent Units for Materials
,= ($7,700 + $66,801) ÷ (20,300 units)
= $3.67 per unit
And, the conversion cost per unit is
= (labor cost + overhead cost) ÷ equivalent units for conversion
= ($19,700 + $18,289) ÷ 18,900 units
= $2.01 per unit
$342,000
Regardless if the amount of supplies has not been paid or not, it is still accounted for in the balance sheet. You would have a debit of 342,000 for supplies, credit of supplies payable of 240,000 and a credit to cash for 102,000 assuming that the difference between both amounts was paid for with cash.
