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enot [183]
3 years ago
11

Julie, being self-employed, is required to make estimated payments of her tax liability for the year. Her tax liability for 2018

was $25,000, and her AGI was less than $150,000. For 2019, Julie ultimately determines that her income tax liability is $18,000. During the year, however, she made the following payments, totaling $13,000. Calculating total payments. The entry is on the left, and the amounts are listed in one column on the right. Line 1. April 15, 2019. $4,500. Line 2. June 17, 2019. 2,800. Line 3. September 16, 2019. 4,100. Line 4. January 2020. 1,600, underlined. Line 5. Total paid. $13,000, double underlined. Because Julie prepaid so little of her ultimate income tax liability, she now realizes that she may be subject to the penalty for underpayment of estimated tax. Determine Julie’s exposure to the penalty for underpayment of estimated tax. The same as part (a), except that Julie’s tax liability for 2018 was $15,960.
Business
1 answer:
igor_vitrenko [27]3 years ago
8 0

Answer:

Underpayment of estimated tax = $2,960

Explanation:

Please consider the following equations:

100% of $15,960 = $15,960

90% of $18,000 = $16,200

whichever is lower. i.e $15,960

Underpayment of estimated tax = $15,960 - $13,000 = $2,960

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Answer: The correct answer is "D. Caleb is personally jointly and severally liable along with Anna.".

Explanation: Caleb is personally jointly and severally liable along with Anna. When there is joint and several liability, a person has the right to claim payment of a debt or compensation for damage to any of those responsible or even all of them, without anyone being able to excuse themselves to evade their responsibility.

6 0
3 years ago
MBO works by objectives moving through the organization; that is, top managers set general organizational objectives, which are
vagabundo [1.1K]

Answer:

D. cascade down

Explanation:

Based on the information provided within the question it seems that this is an example of MBO working as objectives cascade down through the organization. This can be said since the organizational goals/objectives start at the top of the organization (executives and managers) and move down through the organizational hierarchy to the lower level employees. Thus cascading down.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
2 years ago
In year 2, Rocco changes its inventory method from the weighted-average to the FIFO method. If FIFO would have been used in year
nadezda [96]

Answer: I Don't Know sorry

Explanation:

4 0
2 years ago
Lincoln Park Co. has a bond outstanding with a coupon rate of 5.73 percent and semiannual payments. The yield to maturity is 6.7
Natalija [7]

Answer:

Bond Price​= $1,774.05

Explanation:

Giving the following information:

Coupon rate= 0.0573/2= 0.02865

YTM= 0.067/2= 0.0335

The bond matures in 23 years.

Par value= $2,000

<u>To calculate the bond price, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price​= 57.3*{[(1 - (1.0335^-46)] / 0.0335} + [2,000/1.0335^46]

Bond Price​= 1,334.76 + 439.29

Bond Price​= $1,774.05

5 0
2 years ago
A company started the year with "$185,000 of goods finished" and ready for sale. During the year, a total of $700,000 of goods w
gulaghasi [49]

Answer:

$110,000

Explanation:

The closing balance in the finished goods inventory account is a function of the opening balance and the net movement that occurred during the year.

As such, the closing balance

= opening balance + purchases/production - sales

Given;

opening balance = $185,000

purchases/production = $550,000

sales = $625,000

Therefore,

closing balance in the finished goods = $185,000 + $550,000 - $625,000

= $110,000

6 0
3 years ago
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