<span>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
3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)
I do not know
4. How much did John 'take home' in net pay? (assuming this was John's only job)
I do not know
5. How much did John save in his 401(k) in the 2014 tax year?
I do not know
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
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) higher
9. Which are tax deductible?
Student loan payments
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Answer:
the answer is A, B, and D.
Explanation:
just took the test and these were the answers. please give me brainliest!
Price, Supply and Demand. Amonopoly's potential to raise prices indefinitely is its most critical detriment to consumers.
Answer:
c) credit to Accounts Receivable - ZRT.
f) debit to Allowance for Doubtful Accounts.
Explanation:
As for the information provided,
We know in allowance method, provision is created as and when there are doubtful debts, for which entry is
Bad Debts Expense Account Dr.
To Allowance for doubtful debts.
And when the bad debts are actually written off then,
The entry will reduce the balance of accounts receivables and that of allowance as well.
Entry will be:
Allowance for Doubtful debts A/c Dr.
To Accounts Receivables.
Thus, correct options shall be:
Option c) and f)
Answer:
b. The proposal is desirable and the rate of return expected from the proposal is less than the minimum rate used for the analysis.
Explanation:
Under the Net Present Value method we compute the present value of all cash flows, inflow or outflow
And these values are discounted at the minimum rate of return required if the resulting value is positive that means that the rate of return expected is less than minimum rate of return used to discount the value. In that case we are sure that the result of this project will be positive and favorable.
As the discount rate used is in, fact is higher than the actual rate of expected return, therefore this assures to return a profit.
Final Answer
b. The proposal is desirable and the rate of return expected from the proposal is less than the minimum rate used for the analysis.
