Answer:
The statute of limitations is as indicated for different cases:
a: Fraud: The statute of limitations remains open.
b:Disallowance of tax deduction items: The assessment is made within three years from the later date of tax filing or due date.
c: The omission of rental income that is equal to greater than 25% of the taxpayer's reported gross income: A six year statute of limitation is applicable.
Explanation:
The statute of Limitations for the following cases are
a. Fraud (e.g., failure to file a tax return)
In this case the statute of Limitations indicate that <em>The statute of limitations remains open indefinitely if a fraudulent return is filed or if no return is filed at all.</em>
b. Disallowance of tax deduction items
In this case the statute of Limitations indicate that <em>The general rule for the disallowance of tax deduction items is that an assessment may be made against the taxpayer within three years from the later of the date the tax return was filed or its due date.</em>
c:The omission of rental income that is equal to greater than 25% of the taxpayer's reported gross income
In this case the statute of Limitations indicate that <em> A six year statute of limitations applies if the taxpayer omits an item of gross income that is in excess of 25% of the gross income that is reported on the return.</em>
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Answer:
d.accounting records continuously disclose the amount of inventory
Explanation:
Under the perpetual inventory system, an entity continually updates its inventory records to account for additions to and subtractions from inventory for such activities as:
Received inventory items
Goods sold from stock
Items moved from one location to another
Items picked from inventory for use in the production process
Items scrapped
I think the most likely reason that family and friends frequently become targets of aggression is that "they're there", that is, they are present when you come home from work, or when something happens and might just accidentally encounter us in a bad mood.
This can be phrased as "they are convenient"- they are there to be the object of frustration. <span />
Answer:
Bondware Inc.
FIFO Inventory Method:
Ending Inventory (60 units):
Absorption Costing = $66,000
Variable Costing = $56,400
Explanation:
a) Data and Calculations:
Unit Production Costs for March:
Direct materials $500
Variable overhead 440
Total variable cost $940
Fixed overhead 160
Total manufacturing
costs per unit $1,100
Calculation of Ending Units of Inventory:
Beginning units 100
Units produced = 500
Units sold = (540)
Ending units = 60
Beginning Inventory, 100 units:
Absorption costing value = $90,000
Variable costing value = $76,000
FIFO Inventory Method:
Ending Inventory:
Absorption Costing = 60 * $1,100 = $66,000
Variable Costing = 60 * $940 = $56,400
