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3 years ago

1.

2 answers:

8 0

#1) Which of the following is not true concerning Income Tax Refunds?

Answer: Out of all the options that are presented above the one that is not true concerning Tax Refunds is that It is advantageous to receive a large sum of money in the form of a refund so that you can use the money to pay down debt.

#2) When claiming dependents, they must meet the following criteria EXCEPT:

Answer: Out of all the options that are available the only one that is not a criteria that they must meet when claiming dependents is that the dependent must reside with you for the entire year.

#3) If you opt to put money in a medical flexible spending account rather than trying to amass enough medical expenses to itemize on your tax return, you are taking advantage of _____.

Answer: Out of all the options that are presented the one that completes the statement and makes it true is an Exclusion.

#4)A form of taxation in which everyone pays an equal rate of taxes is called a _____.

Answer: Out of all the options that are presented the one that completes the statement and makes it true is Flat Tax.

#5) A form of taxation in which the highest income earner pays the largest percentage of taxes is called a _____.

Answer: Out of all the options that are presented the one that completes the statement and makes it true is a progressive tax.

#6) A form of taxation in which the lowest income earners pay the largest percentage of taxes is called a _____.

Answer: The form of taxation that the lowest income earners pay the largest percentage of taxes is called a regressive tax.

#7) Which of the following is not considered part of your gross income?

Answer: Out of all the options that are show the one that is not considered part of your gross income are bartered goods and services.

#8) Which of the following is not true about your adjusted gross income?

Answer: Out of all the options that are available the one that is not true about your adjusted gross income is that it is your income plus your deductions.

#9) Which of the following is true about standard deductions?

Answer: Out of all the options that are available the one that is true about standard deductions is that they are tax breaks that you can claim without having to itemize. They reduce your tax bill rather than your taxable income, although you have to itemize in order to take advantage of this.

#10) A dollar–for–dollar reduction in your tax payment is called a _____.

Answer: This is called credit.

P.s: I noted that almost all of the answers are selected with a <3. Almost all of them were the same.

I hope it helps, Regards.

scoundrel [369]3 years ago

4 0

Answer:

Explanation:#1 - it is advantageous to receive a large sum of money in the form of a refund so you can pay down debt.

#2 - the dependent must not have provided over half of his/her support for the entire year.

#3 - an exclusion

#4 - flat tax

#5 - progressive tax

#6 - regressive tax

#7 - barter goods or services

#8 - income plus deductions

#9 - they are tax breaks you can claim without having to itemize.

#10 - credit.

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On March 10, 2019, Dearden, Inc., purchased 11,200 shares of Jaffa stock for $47 per share as a long-term passive investment. De

olasank [31]

Answer:

Dearden, Inc.

Journal Entries to record the transactions:

March 10, 2019:

Debit Investment in Jaffa $526,400

Credit Cash $526,400

To record the purchase of 11,200 shares at $47 per share.

December 31, 2019:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $47 to $45 per share.

December 31, 2020:

Debit Investment in Jaffa $33,600

Credit Gain on Investment $33,600

To record the gain on investment from $45 to $48 per share.

December 31, 2021:

Debit Loss on Investment $44,800

Credit Investment in Jaffa $44,800

To record the loss on investment from $48 to $44 per share.

September 12, 2022:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $44 to $42 per share.

Debit Cash Account $470,400

Credit Investment in Jaffa $470,400

To record the sale of the investment in Jaffa at $42 per share.

Explanation:

For Dearden, Inc. journal entries are recorded on the acquisition date to record the purchase of the investment in Jaffa. Records are also made every December 31 to record the movements in the share price of the investment. Finally, on the date of disposal, records are also made to record the sale of the investment.

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3 years ago

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 46,000 mini refrigerators, of whi

notsponge [240]

Answer:

Sales 8,800,000

Less: Cost of goods sold (W1) 5,241,739.13

Contribution 3,558,260.87

Less: Fixed manufacturing cost 598,000

Less: Fixed selling and admin cost 320,000

Net Income 2,640,260.87

(W1) Cost of goods sold

Direct Material 3,450,000

Direct Labour 1,196,000

Variable manufacturing cost 782,000

Variable selling cost 600,000

Total variable cost 6,028,000

Less:closing inventory 786,260.87 (6,028,000/46,000*6,000)

COST OF GOODS SOLD 5,241,739.13

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3 years ago

A firms total cost function is: TC= 500 + 150q - 20q2 + q3 what is the dollar value at the minimum of the average variable cost

Pavlova-9 [17]

Answer:

the correct answer is $150

Explanation:

TC=500 + 150q - 20q^2 + q^3

AVC=(150Q-20Q^2+Q^3)/Q

=150-20Q+Q^2

When AVC is at its minimum means that the marginal cost( CM) is igual to AVC, so we could consider this analysis:

CM= d(TC)/dq =150-40Q+3Q^2

CM=AVC

150-40Q+3Q^2=150-20Q+Q^2

Join similar terms:

150-150-40Q+20Q+3Q^2-Q^2=0

0-20Q+2Q^2=0

Q(-20+2Q)=0

Q_1=0 y Q_2=20/2=10

with q_1 with q_2

150-40*0+3*0=150-20*0+0 150-40*10+3*10^2=150-20*10+10^2

$150=$150 150-400+300 =150-200+100

$50= $ 50

We have two solution if we assume that q=0 like the minimum then the results is $150.

f we assume that q=10 like the minimum then the results is $50.

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3 years ago

Rubin, a freelance software developer, has a meeting with an independent bakery owner to discuss a potential project. Before mee

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Answer:

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In order to effectively communicate, one must analyse their audience to ensure that the message is effectively communicated.

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3 years ago

A furniture factory's employees work overtime to finish an order that is sold on January 31. The office sends a statement to the

Lana71 [14]

Answer:

January

Explanation:

The overtime wages should be expensed in January as in the month of february, wages will be accrued and it will be liablity for employer.

The overtime worked in month on january should be paid in january itself and overtime expense should be included in wages payable in the month of January. When wages are paid, the owner of the factory should debit the wages payable account and cash account should be credited as amount of casg paid to the employees. Wages are considered as operating expenses of factory.

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3 years ago