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Studentka2010 [4]
3 years ago
8

What happens to your tax liability with proper financial planning?

Business
2 answers:
Murljashka [212]3 years ago
7 0
<span>You can estimate your tax liability through proper financial planning.</span>
MrRissso [65]3 years ago
5 0

Answer:

The right answer is minimize

Explanation:

The tax liability is the quantity of money that a person, organization, or any other kind of institution owes to the goverment and has to pay for profits made in the year. You can minimize them, by a proper financial planning, by buying things and declare them, also donation is an option to save taxes.  

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3 years ago
A company had the following purchases and sales during its first year of operations: Purchases Sales January: 10 units at $120 6
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Answer:

Ending Inventory $ 3540

Explanation:

FIFO means first in first out. This rule applies to counting of the inventory in such a way that the units first purchased are sold out first. The following schedule has been prepared to arrive at the ending inventory at each date of sale .

Purchases                                   Sales                  Ending Inventory

January: 10 units at $120            6 units              4 units at $120

February: 20 units at $125         5 units                19 units at $125

May: 15 units at $130                   9 units               10  units at $125

                                                                               15  units at $130    

September: 12 units at $135       8 units              2  units at $125

                                                                            15  units at $130

                                                                             12 units at $135

November: 10 units at $140       13 units             4 units at $130

                                                                             12 units at $135

                                                                            10 units at $140

On December 31, there were 26 units remaining in ending inventory

Ending Inventory = $ 3540= $ 520 + $1620 + $1400

4 units at $130 = $ 520

12 units at $135 = $ 1620

 10 units at $140= $ 1400

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