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loris [4]
3 years ago
9

Week 8 Quiz - Taxes and W-2s (36pts)

Business
2 answers:
timama [110]3 years ago
7 0

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Arisa [49]3 years ago
4 0
1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?

The different copies are for John and each tax return he may file

2. Who sent John this W-2?

John's employer - ProperLiving Widget Engineering & Design

6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?

Yes

7. John earned $2,500 as a life guard over the summer. This was his only job and income taxes were deducted from his paychecks by his employer. For filing a tax return, what should John do?

John should file a tax return. He can then get all of his taxed money refunded.

8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?

1) lower 2) lower

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Wyatt is a businessman. He often travels to different places for business purposes and spends money on hotel stays and get-toget
masha68 [24]

1) Always maintain a book for accounts or maintain an app regarding to track your expenses

2) keep an accountant to track his expenses

4 0
2 years ago
Read 2 more answers
9. Current one-year interest rates in Europe is 4 percent, while one-year interest rates in the U.S. is 2 percent. You convert $
Ulleksa [173]

Solution:

Given ,

1 Year interest rates in Europe = 4 %

1 Year interest rates in the U.S. = 2 %

You are translating $200,000 and spending $200,000 in French

Current spot rate of the euro = $1.20

a.   (2%-4%)/(1+4%)=(S - 1.20) / 1.20  

     S= $1.1769 one year Euro rate

b. ( $1 / 1.20 )( 1 + 4% )* 1.12 = $.9707 return of -2.93% (loss)

c. ( $1 / 1.20) ( 1 + 4%)* 1.31 = $1.1353 return of 13.53% (gain)

d . ($1 / 1.20) ( 1 + 4%) *S = $1 (1+2%) ;

        S=$1.1769          

A spot rate of over $1.17697 (this is the same in part A) would be effective.

7 0
2 years ago
Accounting information systems:
Dafna1 [17]

Answer:

The correct answer is letter "D": are an information system that records, processes, and reports on transactions to provide financial and non-financial information for decision making and control.

Explanation:

An Accounting Information System or AIS is a way to track all of a company's accounting activities. An AIS provides easy access to the same information to different departments. An AIS collects, stores, retrieves and processes the data. The data can come from internal and external sources allowing managers to make decisions about the business operations.

3 0
3 years ago
Mulally's use of "the way forward," which involved closing and modernizing plants, implementing data
murzikaleks [220]

The actions of Mulally in doing the above can be said to be part of his <u>Strategy </u>for <u>Ford</u>.

<h3>Actions by John Mulally.</h3>
  • Were done to turn Ford Motors around so that it would be successful again.
  • Involved closing down plants and increasing labor productivity.

John Mulally was the CEO of Ford Motors and when he took over, Ford needed a turnaround in their fortunes. He engineered a series of changes to ensure that Ford would be competitive again.

In conclusion, this was his strategy.

Find out more on labor productivity at brainly.com/question/6430277.

4 0
2 years ago
In the long run, firms under monopolistic competition_____ A. Standardize their products. B. Face perfectly elastic demand curve
grigory [225]

Answer:

The correct answer is letter "C": Earn zero economic profit.

Explanation:

For markets that have many companies offering similar products or services, monopolistic competition exists. Restaurants, grocery stores, and clothing stores, for example. Such similar products or services are not ideal replacements for each other in monopolistic competition. In the short run, the economic profit of the firms is positive but in the long run, the economic profit approaches to zero.

4 0
3 years ago
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