The lines 8z & 24z in Schedule 1 (Form 1040) are used to report <u>other Income and adjustments</u> that do not have their own designated line.
<h3>What is
Form 1040?</h3>
The Form 1040 is a tax document used by taxpayers to file an annual income tax return.
In the schedule form 1040, the line 8 report other incomes like:
- net operating loss
- gambling income
- cancellation of debt
- jury duty
- pay prize
In the schedule form 1040, the line 24 report other adjustments like:
- housing deduction
- attorney fees etc
In conclusion, the lines 8z & 24z in Schedule 1 (Form 1040) are used to report <u>other Income and adjustments</u> that do not have their own designated line.
Read more about Form 1040
<em>brainly.com/question/4120733</em>
Answer: Please see answers in explanation column
Explanation:
a)Total Labor Cost for Job 200 = Labor Hours x Direct labor rate
= 2,500 x $ 28
= $ 70,000
b)Total Labor Cost for Job 305 = Labor Hours x Direct labor rate
= 3,000 x $ 24
= $ 72,000
Labor Cost for Job 200 and Job 305 during May = $ 70,000 + $ 72,000
= $ 142,000
Date Account Titles and Explanation Debit Credit
May 31st Work In Progress $142,000
Wages Payable $ 142,000
Answer:
has a fair market net worth sufficient to sustain the risks of the program.
Explanation:
FINRA is an acronym for Financial Industry Regulatory Authority. It is a non-profit agency in the United States of America, which is saddled with the responsibility of handling the licensing and regulation of broker-dealers in securities.
A direct participation program (DPP) can be defined as a financial security which gives an investor (customer) access to the cash flow and tax benefits of a business venture.
Under FINRA rules, to recommend a direct participation program (DPP) to a customer, the registered representative must ascertain and ensure that the customer has a fair market net worth that is considered to be sufficient to sustain the risks associated with the program, including loss of investment and lack of liquidity.
Answer:
Dr. Cash $2,200
Cr. Unearned revenue $2,200
Explanation:
As the entry fee for the the racing event is received in advance. The event is on December 15 and the entry fee is received earlier to decide the participants of the race. This receipt is not considered as the revenue income until the event held and race is over. The unearned revenue is considered as the liability and recorded in unearned revenue account as action from the tony side is due. as Tony completes action which is the racing event, the revenue will be recorded.
Answer: D. net demander of funds because it borrows more than it saves
The government incurs more debts than gain profits as shown by most financial reports. The government is viewed similarly to that of business firms being net demanders by loaning huge amounts to financial institutions indirectly. The indirect borrowing done by government is done through debt security selling.
