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3 years ago

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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Prepare journal entries for Buffalo to record (1) the sale on March 10, 2020, (2) the return on March 25, 2020, and (3) any adju

Nataly_w [17]

Answer:

1) Debit Account Receivable/Bank Account - Sales Amount

Credit Sales Account - Sales amount

Credit Inventory Account - Cost of the product

Debit Cost of Sales - Cost of the product

2) Debit Sales Account - Sales Amount

Credit Cost of Sales - cost of the product

Credit Account Receivable/ Bank - Refund Amount

Debit Inventory Account- Cost of the product

a)Any increase in returns over estimate

Debit Sales Account - Difference in sales Value

Credit Cost of Sales - Difference in cost of the product

Credit Account Receivable/ Bank - Difference Refund Amount

Debit Inventory Account- Difference in Cost of the product

b) Any Decrease in returns over estimate

Debit Sales Account - Decrease in Sales Amount

Credit Cost of Sales - Decrease in cost of the product

Credit Account Receivable/ Bank - Decrease in refund Amount

Debit Inventory Account- Decrease Cost of the product

Explanation:

8 0

3 years ago

Read 2 more answers

A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend

rewona [7]

Answer:

Yes, it was a marketing exchange

The payment made of the tuition was exchanged for the knowledge that led Marissa to the new paid and satisfactory job.

Explanation:

Given that changing means taking one thing for another, in the context of marketing, we understand by exchange relationship an act of communication where the parts involved (two or more) make the offer and reciprocally deliver something of value ( comparison with other objects) and useful (measure of the satisfaction obtained when receiving something of value) that passes to the other part.

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3 years ago

Consider the following items:

Arada [10]

Answer: Long-term assets are assets with a duration of more than one year. From the list the parties classified as long-term assets are three:

- Land

- Buildings

-Equipment

The rest of the games are classified as:

Accounts receivable (short-term assets)

Notes payable (due in three years) (Long-term liabilities)

Accounts payable (Short-term liabilities)

Retained Revenue (Equity)

Prepaid rental (Short-term assets)

Unearned Renvenue (Short-term liabilities)

Notes payable (due in six months) (Short Term Liabilities)

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3 years ago

Tide Corporation has traditionally made a subcomponent of its major product. Annual production of 30,000 subcomponents results i

poizon [28]

An amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the subcomponent.

Relevant cost per unit to make = (Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead) / Total sub-component unit

Relevant cost per unit to make = ($250,000 + $200,000 + $190,000 + $80,000) / 30,000 units

Relevant cost per unit to make = $24

Hence, the indifferent price is $24 per unit

Therefore, an amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the sub-component.