Answer:
True
Explanation:
In this case, the advancement payment can help with the payment of the money owned by the taxpayer over a definite period of time. This enables a step-wise payment of the monies that will be owed over a flexible time period, in this case, the period of 36 months that translates to the three-year period. In this period, the tax can be paid in small amounts with an increment in the interest as applicable.
Primary research To get a complete picture of your target market,
Answer:
1. $3,067
2. B) $129,127.
Explanation:
a. The computation of amount deposit in transit is shown below:
The amount of deposit in Transit = Balance as per Cash Book as on 30th Sept - Cheque outstanding realized - Bank charges - Balance as per Bank Book
= $12,596 + $6740 - $16 - $16,253
= $3,067
Deposit in Transit inflates the general ledger initially till it is credited in the bank book.
b. The computation of balance should Cardinal's Cash account show
Cash Account should show a balance = Bank Statement Balance as on May 31 - Outstanding Cheque on May 31
= $180,974 - $51,847
= $129,127
As we can see that the cash account balance is less because there is an outstanding
Answer:
a lot of money was spent this year
