Answer:
Clarence must file his tax returns on schedule C which is April 15, 2020 (for 2019 taxes).
Explanation:
As a sole proprietor of a small business Clarence must include his personal tax return when he files the sole proprietorship's tax returns. Tax returns must be filed on different dates depending on what type of business is filing:
- Sole proprietorship and single-member LLC by April 15, 2020.
- Partnership by March 16, 2020.
- Multiple-member LLC by March 15, 2020.
- S corporation by March 15, 2020.
- Other corporations (not S corporations) by the 15th day of the 4th month after their fiscal year ends.
Answer:
Explanation:
The journal entries are shown below:
We assume the shares outstanding is 513,000 shares
On May 20
Dividend A/c Dr $256,500 (513,000 shares × $0.50)
To Dividend payable A/c $256,500
(Being cash dividend declared)
On June 14
No entry
On July 14
Dividend payable A/c Dr $256,500
To Cash A/c
$256,500
(Being the payment of cash dividend is recorded)
On July 31
Retained earning A/c Dr
$256,500
To Dividend A/c
$256,500
(Being cash dividend declared)
Outcome of the War. The Treaty of Guadalupe Hidalgo was a peace treaty signed on the 2nd of Feburary, 1848, at the Villa de Guadalupe Hidalgo.The signing of this treaty ended the war between the United States and Mexico.
Answer:
$1,200 was subject to income tax is the correct answer.
Explanation:
Answer:
$160
Explanation:
her net monthly take home pay will be reduced by $200 x (1 - combined tax rate = $200 x (1 - 20%) = $200 x 0.8 = $160
If instead of contributing to her 401k account, Betty took the money home, she would have to pay $40 in taxes (both state and federal), so the net amount that she receives is reduced by the taxes that she pays.
