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3 years ago

What is 1040A also known as?

Business

2 answers:

Dmitrij [34]3 years ago

7 0

Explanation:

The IRS Form 1040A is one of three forms you can use to file your federal income tax return. The 1040A Form was a simplified version of the 1040 form for individual income tax.

Hope this helped : )

mars1129 [50]3 years ago

7 0

Answer:

The IRS Form 1040A is one of three forms you can use to file your federal income tax return.

Explanation:

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Lowe's is the second-largest home improvement retailer in the world, with 2,002 stores. During its fiscal year ended in February

34kurt

The financial statement effects template records Lowe's purchases for the fiscal year ended February 28, 2019 as follows:

Transaction Assets = Liabilities + Equity

Purchases $0 + $49,569 = $49,569 + $0

Inventory Accounts Payable

The accounts equally affected by the purchases on account are the Inventory and the Accounts Payable.

Data Analysis:

Merchandise Inventory $49,569 Accounts Payable $49,569

Thus, with the purchases of merchandise during the fiscal year at a cost of $49,569, the Assets (inventory) and Liabilities (accounts payable) are increased by the same amount.

Related question on the financial statement effects at brainly.com/question/16362041

4 0

3 years ago

Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 20

marishachu [46]

Answer:

net income during 2019 = $109,045

Explanation:

total stockholder equity 2018 = assets - liabilities = $293,500 - $79,245 = $214,255

total stockholder equity 2019 = assets - liabilities = $497,512 - $177,212 = $320,300

change in equity from 2018 to 2019 = $106,045

$33,000 can be explained by additional capital invested, and the remaining $73,045 corresponds to change in retained earnings

change in retained earnings = net income - dividends distributed

$73,045 = net income - $36,000

net income = $109,045

3 0

3 years ago

The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its ass

Setler [38]

Answer:

1.The cost of a hard drive installed in a computer = Direct Material Cost

Explanation:

Direct Material relates to the basic inputs required to make the final good.

Here, for the information it is provided that, PC Works assembles custom computers, which are supplied by various manufacturers.

Since the main business of PC Works is to assemble the computers, installing a hard disk will be the main component of service, thus, It is part of direct material.

5 0

3 years ago

Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,650 pounds of materia

Nuetrik [128]

Answer:

Direct material price variance= $3,720 favorable

Explanation:

<u>To calculate the direct material price variance, we need to use the following formula:</u>

<u></u>

Direct material price variance= (standard price - actual price)*actual quantity

Actual cost= $5.4

Standard cost= $6.2

Actual quantity= 4,650

Direct material price variance= (6.2 - 5.4)*4,650

Direct material price variance=$3,720 favorable

3 0

3 years ago

produces sports socks. The company has fixed expenses of $ 90 comma 000$90,000 and variable expenses of $ 0.90$0.90 per package.

antiseptic1488 [7]

Answer:

The contribution margin and the contribution ratio is $0.90 and 50% respectively.

Explanation:

The formula to compute contribution margin per package is shown below:

Contribution margin = Selling price per package - variable expense per package

= $1.80 - $0.90

= $0.90

And, the formula to compute contribution ratio is shown below:

= (Contribution per package ÷ selling price per package) × 100

= ($0.90 per package) ÷ ($1.80 per package) × 100

= 50%

8 0

3 years ago