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Elza [17]
3 years ago
7

Jack, a return preparer, did not retain copies of all returns that he prepared but did keep a list that reflected the taxpayer's

name, identification number, tax year, and type of return for each of his clients. Which of the following statements best describes this situation?
A. Jack is in compliance with the provisions of the tax code if he retains the list for a period of 1 year after the close of the return period in which the return was signed.
B. Jack is not in compliance with the tax code since he has not kept all the information required by the Code.
C. Jack is not in compliance with the tax code since he must retain copies of all returns filed.
D. Jack is in compliance with the provisions of the tax code, provided he retains the list for a 3-year period after the close of the return period in which the return was signed.
Business
1 answer:
BartSMP [9]3 years ago
4 0

Answer:

D) Jack is in compliance with the provisions of the tax code, provided he retains the list for a 3-year period after the close of the return period in which the return was signed.

Explanation:

The Internal Revenue Service (IRS) requires tax return preparers to keep the following records;

  • either maintain a complete copy of each tax return or claim for refund they have filed for 3 years after the return period, or
  • maintain a list of the names, identification numbers, and tax years for those individuals or businesses whose tax returns were prepared and to keep this list for 3 years after the return period.

The tax preparer can choose the alternative that best suits hims or her.

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Which statement provides the correct information regarding the parts
Alborosie

Answer:

I don't know but good luck finding the answer

Explanation:

3 0
3 years ago
A company with 110,000 authorized shares of $8 par common stock issued 49,000 shares at $13. Subsequently, the company declared
Jet001 [13]

Answer:

$29,400

Explanation:

The company will distribute dividends only to outstanding shares, since the number of outstanding shares is not specified, we should assume that all the 49,000 shares issued are outstanding shares. The company declared a 2% dividend, so we must multiply the current value of the stock times 2% = $30 x 2% = $0.60 per share.

The total amount distributed was 49,000 outstanding shares x $0.60 per share = $29,400

8 0
3 years ago
During the current year, the company purchased equipment for $212,000 on October 1. It is estimated the equipment will have a us
qwelly [4]

Answer:

$6250

$5000

$5250

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($212,000 - $12,000) / 8 = $25,000

The machine was used for only 3 months in the fiscal year. Thus, the depreciation expense = $25,000 x (3/12) = $6250

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

(1000 / 40,000) x ($212,000 - $12,000) = $5000

Activity method based on hours worked = (hours worked that year / total hours of the machine) x  (Cost of asset - Salvage value)

($212,000 - $12,000) x (525 / 20,0000)  = $5250

7 0
3 years ago
Joyce works hard and puts in many extra hours. For this, she can anticipate a pay raise, a promotion, or an expanded sales terri
Alex17521 [72]

Answer:

Expectancy theory

Explanation:

Expectancy theory states that when an individual is faced with different choices they will be motivated in a certain way in choosing a particular option based on what they expect to be the result of the choice.

So behaviour is affected by perceived result or consequence of a particular choice.

In the given scenario Joyce works hard and puts in many extra hours, and getting a promotion is most important to Joyce.

So because of her expectations that manager must recognise that:

(1) she is putting in hard work and long hours to obtain a promotion,

(2) what motivates Joyce will change over time (if she does not get the promotion), and

(3) he must clearly show Joyce how to attain the desirable reward.

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Jem Dons has three strategic business units (SBUs)-smartphones, healthcare, and accounting. Its smartphone unit is its most prof
Musya8 [376]

Answer:

Option A Stars

Explanation:

The reason is tha according to Boston Consulting Models the Business Units that possess high growth potential and this has been proven by capturing the market share with a good market share growth is Star. The business units like Star are the key to success and the businesses which possesses such business units must invest on it to expand its operation and further increase its market share to be a leader in the market.

3 0
3 years ago
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