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Anna35 [415]
3 years ago
6

Clarence is a sole proprietor who started his business on July 29, 2017. He has not elected any particular tax year. Generally,

when is Clarence's federal income tax return due?
Business
1 answer:
astra-53 [7]3 years ago
6 0

Answer:

Clarence must file his tax returns on schedule C which is April 15, 2020 (for 2019 taxes).

Explanation:

As a sole proprietor of a small business Clarence must include his personal tax return when he files the sole proprietorship's tax returns. Tax returns must be filed on different dates depending on what type of business is filing:

  • Sole proprietorship and single-member LLC by April 15, 2020.
  • Partnership by March 16, 2020.
  • Multiple-member LLC by March 15, 2020.
  • S corporation by March 15, 2020.
  • Other corporations (not S corporations) by the 15th day of the 4th month after their fiscal year ends.

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Rachel is saving her entertainment money for a summer trip to Europe, but she wants to spend time with her friends this Saturday
Vanyuwa [196]

Answer:

I'd say B,

Explanation:

becuase you dont need any money to hike and she wants to save it.

3 0
3 years ago
What general conclusions can be drawn about Eli’s situation? Check all that apply.
Alex777 [14]

Answer:

He may still be covered in some cases.

He faces more risk than insured people do.

He may have to take precautions but many factors are beyond his control.

Not being able to afford insurance was a factor in him not being covered.

Explanation:

I got it correct

7 0
3 years ago
Read 2 more answers
Sunland Company had 203000 shares of common stock, 20100 shares of convertible preferred stock, and $607000 of 10% convertible b
svetlana [45]

Answer:

Option B fits perfectly,$1.61

Explanation:

Basis earnings per share is the total earnings attributable to common stock divided by the weighted average number of common stock in the year.

Earnings attributable to common is net income minus preferred stock dividends

Net income is $361,000

preferred stock dividend=20,100*$1.70=$ 34,170.00  

earnings attributable to common stock=$361,000-$ 34,170=$ 326,830

Weighted average number of common stock is 203,000 shares

basic earnings per share= $326,830/203,000=$1.61

The correct option is B,$1.61

 

6 0
3 years ago
Jay-cee corporation had 20,000 shares of $4 par value common stock outstanding on january 1. on january 20, the company purchase
Tatiana [17]
19000 x 5 = $95,000 total to common
3 0
3 years ago
A company paid $43,800 plus a broker's fee of $675 to acquire 7% bonds with a $46,000 maturity value. the company intends to hol
Alona [7]

When the bonds will mature, the company will receive, maturity value plus the interest earned on the bonds.

The maturity value will be the par value, as nothing is given, the bonds are redeemed at par value i.e. $ 46,000.

The interest income will be calculated as -

Interest Income = 7 % * $ 46,000 = $ 3,220

Thus, the total cash proceeds = $ 46,000 + $ 3,220 = $ 49,220

3 0
2 years ago
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