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WINSTONCH [101]
3 years ago
12

3. True or False. An advance payment received in June 2019 by an accrual basis and calendar year taxpayer for services to be pro

vided over a 36-month period, can be spread over the 36 month period for tax reporting purposes?
Business
1 answer:
stepladder [879]3 years ago
4 0

Answer:

True

Explanation:

In this case, the advancement payment can help with the payment of the money owned by the taxpayer over a definite period of time. This enables a step-wise payment of the monies that will be owed over a flexible time period, in this case, the period of 36 months that translates to the three-year period. In this period, the tax can be paid in small amounts with an increment in the interest as applicable.

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5) A car rental company offers two plans for one way rentals. Plan I charges $36 per day and 17 cents per mile. Plan II charges
Rom4ik [11]

Answer:

a. Plan I is better is we drive 300 miles in a day.

b. 150 miles.

Explanation:

a. if mileage is 300 then rental charges will be,

Plan I : $36 + 17 cents * miles

$36 + 0.17 * 300 = $41.10.

Plan II : $24 + 25 cents * miles

$24 + 0.25 * 300 = $99.00

Plan I total cost for 300 miles is $41.10 whereas Plan II total cost for 300 miles is $99.00. Plan I is better plan and cost effective.

b. For mileage (m) calculation we will use equation;

Plan I = Plan II

$36 + 0.17m = $24 +0.25m

0.25m - 0.17m = $36 - $24

m = $12 / 0.08

m = 150 miles.

6 0
3 years ago
Victor Rumsfeld Inc.'s dividend policy is under review by its board. Its projected capital budget is $2,000,000, its target capi
melomori [17]

Answer:

The multiple choices are

a.  $240,000

b. $228,000

c. $216,600

d.$205,770

e. $0

The correct option is E,$0

Explanation:

The funding required from equity is 40% of the projected capital budget of $2000,000 which is expected to be from the profit attributable to stockholders since new issue of shares is not contemplated.

In other words, dividends payable to shareholders is the net income less their counter funding of the project which is computed below:

residual dividends=net income-(equity%*capital outlay)

residual dividends=$300,000-(40%*$2000,000)

                               =$300,000-$800,000=$0

In essence the $300,000 is not even enough as funds expected from equity less alone paying excess as dividend

3 0
3 years ago
To overcome this problem when selling to less-affluent consumers in developing countries, many companies make simpler or smaller
xxMikexx [17]

This kind of problem is known as price escalation.

<u>Explanation:</u>

A divergence in estimating where merchandise have greater expenses in a remote market than in the local market because of transportation and sending out expenses is known as price escalation.

Price escalation can likewise allude to the total of cost factors in the circulation channels which mean a higher last expense for an item in a remote market.

5 0
3 years ago
Bonita Industries began the year by issuing $75500 of common stock for cash. The company recorded revenues of $772000, expenses
Alex

Answer:

net income = $106,000

Explanation:

net income = total revenues - total expenses = $772,000 - $666,000 = $106,000

Any additional capital raised will increase the company's cash flows (financing activity) and any dividends distributed will decrease them (another financing activity), but they do not affect the company's net income.

3 0
3 years ago
(1) Quality of products available in superstore.
Julli [10]

Explanation:

i am confused, is this a survey? I shall answer it than

c

c

c

c

c

none

you're welcome

7 0
3 years ago
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