Answer:
$755 taxes due
Explanation:
Data provided in the question
Gross tax liability = $7,255
Credits available = $2,450
Taxes withheld by his employer = $4,050
So by considering the above information, the Jamison taxes due with his tax return is
= Gross tax liability - credits available - taxes withheld by his employer
= $7,255 - $2,450 - $4,050
= $755 taxes due
<span>It is imperative to have accurate information when completing year end financial statements. If a journal entry and posting for the use of office supplies was omitted in error, the financial statements would not be complete, and the company could possibly lose out on a tax deduction.</span>
Answer:
41.92 months
Explanation:
In this question, we use the NPER formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $23,000
Future value = $33,000
Rate of interest = 0.50%
PMT = $100
The formula is shown below:
= NPER(Rate;-PMT;-PV;FV;type)
The present value and the PMT comes in negative
So, after solving this, the answer would be 41.92 months
Answer:
Matching the financial statement items to financial statement categories:
Financial Statement Items Financial statement
a. Notes payable to banks Liability (L)
b. General and administrative Expense (E)
c. Accounts payable
Liability (L)
d. Dividends payable Liability (L)
e. Retained earnings Shareholders' equity (SE
f. Cash and cash equivalents Asset (A)
g. Accounts receivable Asset (A)
h. Provision for income taxes[1] Expense (E)
i. Cost of goods sold Expense (E)
