Answer:
Bigbucks Brokerage
The whole amount of $2,400 must be included in the taxpayer's income.
Explanation:
The Bicycle Commuting Reimbursement in 2020, given under a Bicycle Commuter Tax Benefit program, is taxable as income to the employee. According to the provisions of the Tax Cut and Jobs Act, the restriction placed on the Bicycle Commuter Tax Benefit will expire in 2026. The bicycle commuting reimbursement is a benefit that can only be offered by employers and is regarded as a taxable benefit to the affected employee.
Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
<h3>
Second year depreciation expense </h3>
First step is to calculate the first year depreciation expense
First year depreciation expense=15,000×(100%/8 x 2)
First year depreciation expense=15,000 x 25%
First year depreciation expense=3,750
Second step is to calculate Second year depreciation expense
Second year depreciation expense = (15,000-3750) x 25%
Second year depreciation expense=11,250x 25%
Second year depreciation expense =2812.50
Therefore Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct
<h3>
What is income tax?</h3>
A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.
The complete part of the question is below:
A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.
B)Income taxes are based on taxable income and not accounting income.
C)Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future.
D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.
Hence option C is correct.
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Answer: have someone study its target market to see what needs and wants should be met by Mimi Couturier Co
Explanation:
Despite the fact that Mimi Couturier is doing everything possible to be efficient and productive, the company is losing money because the company hasn't studied the target market.
The target market refers to the group of consumers that the product is aimed for. When the target market is studied, then the company will be able to know what the consumers want from them and seek ways to address that.
Answer:
Marketing and sales segment.
Explanation:
- A values chain consists of actions that a firm functioning in a public industry that performs in order to deliver a valuable product to the market.
- The idea value chain is based on the process view of a manufacturing organization as a system of subsystems that transforms and processes money, labor, and materials, etc.
- The marketing and sales is considered to be a primary function and include the creation of salesforce, advertising campaigns, and giving values to its customers, clients and partners.
