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3 years ago

Austin is not able to pay the entire balance due by the due date of the return (without extensions) . what are his options?

1 answer:

8 0

If Austin cannot pay the entire balance in full by the due date of the return, he can choose any options. Such as installment agreement request by submitting form 9465. This installment agreement allows Austin to make a series of monthly payments over time. Another choice is by paying IRS for a full pay agreement of up to 120 days. In this option, no penalty fee for full payment; however, interest and any applicable penalties continue to accrue until your liability is paid in full. Moreover, Austin can <span>consider financing the full payment of his tax liability through a credit card. The interest rate and any applicable fees charged by a credit card company are usually lower than the combination of interest and penalties set by the Internal Revenue Code.</span>

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When employers use diplomas and degrees to determine who is eligible for jobs, even though the diploma or degree may be irreleva

Maslowich

Answer:

The correct answer here is Credential society.

Explanation:

Randal Collins, who was a sociologist was the first to observe that many of the industrialized nations have become credential societies, which means in such societies employers will hire those individuals who have a degree. Employers here are hiring individuals with degree because they think these individuals have shown consistency, they're more skillful, responsible and posses some specialized knowledge. Employers think individuals with qualities would be more valuable asset than others and they can do work both effectively and efficiently.

3 0

4 years ago

A bond has annual coupons, $1000 par value, 2 years to maturity, 8% coupons and a 6% yield. Calculate the Macaulay Duration. The

Softa [21]

Answer:

The answer is "1.93 years".

Explanation:

$Macaula \ \ duration \ \ \ \ \ \ \ \ \ \ 1000 \times 8\%\\\\$

$years \ \ \ \ cash \ flows \ \ \ \ pv\ of \ 6\%\ \ \ \ present \ value \ \ \ \ current \ value \ \ \ \ pv/current \ value \ \ \ \frac{pv}{cp}\times t$ $\$80.00\ \ \ \ \ \ \ 0.9434 \ \ \ \ \ \ \ \$75.472 \ \ \ \ \ \ \ \$1,036.67 \ \ \ \ \ \ \ 0.0728 \ \ \ \ \ \ \ 0.0728\\\\\$ 1,080.00 \ \ \ \ \ \ \ 0.8900 \ \ \ \ \ \ \ \$961.196 \ \ \ \ \ \ \ \$1,036.67 \ \ \ \ \ \ \ 0.9272 \ \ \ \ \ \ \ 1.8544\\\\$

$\$ 1,036.668 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 1.92772\\\\$

that's why the Macaula duration is 1.93 years.

7 0

3 years ago

A store has 5 years remaining on its lease in a mall. Rent is $2,000 per month, 60 payments remain, and the next payment is due

liubo4ka [24]

Solution:

Sum Present value of 60 payments

Rent 2000

Periods 60

Rate 12%

Present value of 60 payments $94,405 (Excel = PV( 1% , 60 , 2000))

Future value of these payments at t=9

Future value $1,03,249.99(Excel=FV(1%,9,94,405)

Periods 51

Rate 12%

8 0

3 years ago

Prepare a multiple-step income statement through the calculation of gross profit.

Darya [45]

Answer:

inventory 6,000 debit

account payable 6,000 credit

--to record July 1st--

Acc Rec 900 debit

Sales Revenues 900 credit (+900 income)

--to record sale--

COGS 500 debit (-500 expense)

Inventory 500 credit

--to record cost of sale--

Delivery expense 125 debit (-125 expense)

Cash 125 credit

--to record freight-out --

Cash 1,700 debit

Sales Revenues 1,700 credit (+1,700 income)

--to record sale--

COGS 1,300 debit (-1,300 expense)

Inventory 1,300 credit

--to record cost of sale--

Inventory 2,200 debit

Account Payable 2,200 credit

--to record purchase--

Account Payable 200 debit

Inventory 200 credit

--to record return of goods--

Cash 882 debit

Sales DIscount 18 debit

Accounts Receivables 900 credit

--to record payment from customer--

Account Payable 6,000 debit

Cash 5,940 credit

Inventory 60 credit

--to record payment to supplier--

Cash 1,200 debit

Sales Revenues 1,200 credit (+1,200 income)

--to record sale--

COGS 800 debit (-800 expense)

Inventory 800 credit

--to record cost of sale--

Sales Returns 200 debit

Account Receivables 200 credit

-- to record return from customer--

Account Payable 2,000 debit

Cash 1,960 credit

Inventory 40 credit

--to record payment to supplier--

Cash 980 debit

Sales DIscount 20 debit

Accounts Receivables 1,000 credit

--to record payment from customer--

Cash 7,000 debit

Sales Revenues 7,000 credit (+7,000 income)

--to record sale--

COGS 4,800 debit (-4,800 expense)

Inventory 4,800 credit

--to record cost of sale--

Explanation:

Cheek

900 x 2% = 18

net of discount 900 - 18 = 882

Boden:

6,000 x 1% = 60

Net of discount 6,000 - 60 = 5,940

Leight:

2,200 - 2,000 = 2,000 balance due

2,000 x 2% = 40

net of discount 1,960

Art Co:

1,200 - 200 = 1,000 balance due

1,000 x 2% = 20 discount

net = 1,000 - 20 = 980

8 0

3 years ago

Which best describes a way people can use personal loans?

astraxan [27]

Answer:

To pay for groceries

Explanation:

Personal loan is a type of unsecured loan which a person takes to fulfill his basic daily financial needs. And it is quite flexible, means the borrower is free to use as per his/her need. For example, travelling costs, groceries, medical emergencies, home renovation etc.

6 0

3 years ago

Read 3 more answers