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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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For the coming year, Belton Company estimates fixed costs of $60,000, the unit variable cost of $25, and the unit selling price
NeTakaya

Answer:

1. Break even point in units = 2,400 units

2. Sales required = 6,400 units

3. Operating income = $140,000

Explanation:

Given:

Fixed costs = $60,000

Variable cost =$25 per unit

Selling price = $50 per unit

Computation:

1. Break-even point in units of sales.

Contribution per unit = sales - VC

Contribution per unit = $50 - $25

Contribution per unit = $25

Break even point in units = Fixed costs / Contribution per unit

Break even point in units = $60,000 / $25

Break even point in units = 2400 units

2. Unit sales required to realize operating income = $100,000

Sales required = (Fixed costs + Operating income) / Contribution per unit

Sales required = ($60,000 + $100,000) / $25

Sales required = 6400 units

3. Operating income if sales total = $400,000

Contribution margin = [$25/ $50]100 = 50%

Operating income = Contribution margin - Fixed costs

Operating income = ($400,000 × 50%) - $60,000

Operating income = $140,000

5 0
3 years ago
You try to start your car, but it does not start. Which of these is a prediction? You try to start your car, but it does not sta
tensa zangetsu [6.8K]

Answer:

What is wrong with my car?

Explanation:

Asking the question 'what is wrong with my car' will generate alot of possible solutions which cover everything about the car, unlike other questions that are specific. Predicting the possible cause of the problem will be difficult for anyone.

The problem might be 'an empty gasoline', it might also be an 'ignition problem' etc.

7 0
3 years ago
We can conclude from the above information that any rational, risk-averse investor would be better off adding Security AA to a w
romanna [79]

Answer: False

Explanation:

First calculate the expected value for both securities:

Security AA:

= (0.2 * 30%) + (0.6 * 10%) + (0.2 * -5%)

= 6% + 6% + (-1%)

= 11%

Security BB

= (0.2 * -10%) + (0.6 * 5%) + (0.2 * 50%)

= -2% + 3% + 10%

= 11%

<em>They both have the same expected return so the investor will be indifferent. Statement is therefore false.</em>

4 0
2 years ago
Fund Net Asset Value Offering Price Change Capital $9.01 $9.59 - .02 Common $6.37 $6.64 - .04 Corporate $7.72 $8.44 .03 A custom
Oksi-84 [34.3K]

Answer:

C $1,918

Explanation:

Calculation to determine what Capital Fund this day will pay

Using this formula

Capital fund=Capital Offering price*Number of shares

Let plug in the formula

Capital fund=$9.59 per share x 200 shares

Capital fund=$1,918.00

Therefore Capital Fund this day will pay:$1,918.00

8 0
3 years ago
Suppose NanoSpeck, a biotechnology firm, is selling bonds to raise money for a new lab—a practice known as __________(equity or
const2013 [10]

Answer:

The correct answers are:

- Debt.

- An IOU promise to pay.

- The stockholders.

Explanation:

To begin with, in the field of finance the <em>bond</em> is an instrument of <u>indebtedness</u> of the bond issuer to the holders. Moreover, this instrument is also known as a <u>debt security</u> under which the party that generated the bond owes a debt to the holder of the bond and must pay ir under certain circumstances stipulated at the time of the purchase, therefore that it is known that the bond is a form of<u> ''I owe you'' or IOU</u> promise to pay. Furthermore, the <u>bondholders are only lenders</u> and therefore they do not owe a part of the company, so that means that if the company runs into financial difficulty then the stockholder, who do owe a part of the company, will be paid first.

3 0
3 years ago
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