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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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Answer:

Modeling

Explanation:

The efforts of one good worker can often motivate others to reach their potential through a process called modeling. In this process, the person who is setting an example and motivating others to achieve the very best of their potential serves as the best role model for others. When people work in an organization, or in any team or groups, modeling plays an important part there. Managers can motivate their employees and get best and maximum out of them in order to get the work done effectively and efficiently.

5 0
3 years ago
if the demand for a product is inelastic, which of these statements must be true? a)people will not buy any of the product when
Vanyuwa [196]
The statement that must be true about the demand for a product if it is inelastic is that, a price increase does not have a significant impact on buying habits. The correct answer would be option B. When the demand is inelastic, this situation means that the demand for a product does not decrease nor increase in corresponds to the rise or fall of its price.
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3 years ago
Read 2 more answers
Holliman Corp. has current liabilities of $407,000, a quick ratio of 1.90, inventory turnover of 4.50, and a current ratio of 3.
Sati [7]

Answer:

Cost of goods will be $4670325

Explanation:

We have given current liabilities = $407000

A quick ratio = 1.90

Current ratio is 3.40 and inventory turnover = 4.50

We know that current ratio is the ratio of current assets and current liabilities

So 3.4=\frac{current\ assets}{current\ liabilities}

So current assets = $1383800

Now quick ratio is equal to = \frac{current\ assets-inventory}{curtrent\ liabilities}

So 0.85=\frac{1383800-inventory}{407000}\\

Inventory = $1037850

Inventory turnover is given 4.5

So 4.5=\frac{cost\ of\ goods\ sold}{average\ inventory}

4.5=\frac{cost\ of\ goods\ sold}{1037850}

So cost of goods sold = 4.5×$1037850 = $4670325

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3 years ago
Technology has proliferated in Kenya and Somaliland, with text messages used to replace cash, creating mobile money use that, on
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<u>True.</u>

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This statement is true. In Kenya there is a system called M-PESA, which can be defined as a more developed payment system worldwide, this system acts as a tool that allows payments and purchases to be made via cell phone.

This system revolutionized the lives of the citizens of that region, due to the ease of being able to carry out commercial transactions and manage their money without needing a bank.

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Which of the following helps economists judge the overall condition of a
Svet_ta [14]

Answer:

Measuring economic indicators helps economist judge the overall conditions of a country's economy.

Explanation:

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