Answer:
1. Tax avoidance
2.Tax avoidance
3.Tax evasion
Explanation:
Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.
Examples of tax avoidance are;
1. Andrea keeps a record of all her business related expenses.
2. Daniel claims the amount of interest paid for his mortgage as tax deductions.
Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.
Example of tax evasion is ;
3. Christian did not report the tips he earned on his tax return.
Answer:
C. debit cash, credit premium on bonds payable and bonds payable
Explanation:
Since the contract rate is greater than the market rate, the bond is issued at a premium. And, the journal entry is shown below:
Cash A/c Dr XXXXX
To Premium on bonds payable A/c XXXXX
To Bonds payable A/c XXXXX
(Being bond is issued at a premium is recorded)
When the bond is issued at a premium, we debited the cash account and credited the premium on bonds payable and bonds payable account
Answer:
Gathering publicly available comparable company information
Creating detailed forecasts for both companies
An accretion/dilution and sensitivity analysis
Determining and calculating items related to the acquisition structure
The number of books that will be produced such that the costs from the two methods be the same is 4668 units.
From the complete question, the total cost of the first equation will be:
= 8.25x + 65054
The total cost for the second equation will be:
= 19.50x + 12539
Then, we'll equate both equations together and this will be:
8.25x + 65054 = 19.50x + 12539
Collect like terms
19.50x - 8.25x = 65054 - 12539
11.25x = 52515
Divide both side by 11.25
11.25x/11.25 = 52515/11.25
x = 4668 units.
Therefore, the breakeven unit will be 4668 units.
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Answer:
B) $11,750
Explanation:
annual mortgage payment = net operating income - (outstanding loan balance x loan payment factor)
outstanding loan balance = property value x loan percentage
annual mortgage payment = $40,000 - [($360,000 x 80%) x 0.09809] = $40,000 - ($288,000 x 0.09809) = $40,000 - $28,250 = $11,750
