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notsponge [240]
3 years ago
10

A client demands the return of all records and documents from an attorney even though the client has not paid the attorney's fee

s. Under Circular 230 the attorney:
A. must allow the client to photocopy the tax return.

B. must return all client-provided records, especially those that need to be attached to the return.

C. must provide an electronic copy of any appraisal that the his office completed.

D. should deduct the outstanding fees from the refund expected by the client so that the tax return can be filed.
Business
1 answer:
dedylja [7]3 years ago
8 0
Your answer is d.should deduct toe outstanding fees from the refund expected.

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For each item below, indicate whether a debit or credit applies.
Mandarinka [93]

Answer and Explanation:

The indication of each transaction is as follows

a. Note payable contains credit balance so if there is decrease so it would be shown on the debit side

b. Dividend contains debit balance so if there is an increase so it would be shown on the debit side

c.  Common stock contains credit balance so if there is an increase so it would be shown on the credit side

d. Unearned rent revenue contains credit balance so if there is an increase so it would be shown on the credit side

e. Interest payable contains credit balance so if there is decrease so it would be shown on the debit side

f.  Prepaid insurance contains debit balance so if there is an increase so it would be shown on the debit side

g. Expense contains debit balance so if there is an decrease so it would be shown on the credit side

h.  Supplies contains debit balance so if there is an decrease so it would be shown on the credit side

i. Revenue contains credit balance so if there is an increase so it would be shown on the credit side

j. Account receivable contains debit balance so if there is an decrease so it would be shown on the credit side

8 0
3 years ago
BBB Leasing purchased a machine for $280,000 and leased it to Jack Tupp Auto Repair on January 1, 2021. Lease description: Quart
Nostrana [21]

Answer: $251758.53

Explanation:

Based on the information given in the question,

Total lease liability = $280,000

Then, the balance in the lease payable account when the first lease payment takes place on January 1, 2021 will be:

= $280,000 - $16,427

= $263573

The, the interest that is included in the lease payment that's made on April 1, 2021 Will be:

= $263573 x 7% x 1/4

= $4612.53

Then, the principal amount that's included in the lease payment made on April 1, 2021 will be:

= $16,427 - $4612.53

= $11814.47

Therefore, the balance in the lease payable account after the April 1, 2021, lease payment will be:

= $263573 - $11814.47

= $251758.53

6 0
2 years ago
Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,00
hichkok12 [17]

Answer:

O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.

Explanation:

Dividend declared = $0.5 per share

Total Authorized shares = 20,000 shares

Total Issued Shares = 9,000 shares

Total Outstanding shares = 8,000 shares

As outstanding shares are only eligible shares for the dividend payment.

Total Dividend Payment = $0.5 per share x 8000 shares

Total Dividend Payment = $4000

Journal Entry for this event

                                 Dr.             Cr.

Retained Earning    $4,000

Common Dividend Payable   $4,000

8 0
3 years ago
Simone lives in a country in which the government does not impose quotas on what can be imported or on what businesses can produ
irina1246 [14]

The type of situation that describe a situation where government does not impose quotas on what can be imported is known as free trade.

<h3>What is free trade?</h3>

Free trade is an agreement between two or more countries to remove trade barriers or restrictions . This enable member countries trade freely without any impediment to import and export of goods.

Countries come together to promote their goods and services by taking away any thing that could hinder import and export of goods among member nation. This bring about increased efficiencies.

Hence, the type of situation that describe a situation where government does not impose quotas on what can be imported is known as free trade.

Learn more about free trade here: brainly.com/question/3520350

7 0
1 year ago
When Andy Forsummer, the owner of Barcelona Restaurants Group, rejects management philosophies that stress employee social relat
lbvjy [14]

Answer:

When Andy Forsummer, the owner of Barcelona Restaurants Group, rejects management philosophies that stress employee social relations and employee happiness, he is refuting ideas championed by <u>Henri Fayol's administrative management.</u>

Henri Fayol's administrative management usually looks at the clear decision of labor, work ethics, employee and organizational culture and spirit. It stresses upon how employee social relations and employee happiness is crucial to the success of an organization.

8 0
3 years ago
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