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In-s [12.5K]
3 years ago
10

A typical source document could be Question 8 options: A) a computer data entry screen. B) the company's financial statements. C

) both some type of paper document and a computer data entry screen D) some type of paper document.
Business
1 answer:
Simora [160]3 years ago
7 0

Answer:

Both A and B  

Explanation:

The original record that contains details that substantiates or supports the original document which will be entered in accounting system is called source document.  

They describe basis facts such as amount, purpose and date.

Cancelled checks, credit card receipts and supplies invoices, cash register tapes are examples of source documents.

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Investors can postpone or avoid income taxes by investing through individual retirement accounts.
kkurt [141]

True. Investors can postpone or avoid income tax by investing through individual retirement accounts. Tax-deferred and tax-exempt retirement accounts are two most popular options for lowering tax obligations. Both forms of retirement accounts reduce total amount of taxes a person will pay throughout their lifetime.

Immediate tax deductions up to the full amount of contribution in tax-deferred accounts is allowed. Money in account continues to grow tax-free. Instead of offering tax reductions on donations, tax-exempt accounts offer future tax benefits.

Tax is not applied to retirement accounts. Maximizing contributions to both types of accounts can be the best tax-savings plan.


To learn more about account, click here

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7 0
1 year ago
Phoenix Agency leases office space for $7,700 per month. On January 3, Phoenix incurs $105,600 to improve the leased office spac
nadezda [96]

Answer:

$13,200 per year

Explanation:

Amount incurred to improve the office space = $

Improvement expected to yield benefit = 10 years

Remaining life on it's lease = 8 years

Since the office space is not going to remain with Phoenix after the lease period, it means that the improvement expenses will be expensed over the remaining lease period I.e 8 years.

Therefore, the amount of expense that should be recorded the first year related to improvements can be calculated as;

= Amount incurred to improve the office space ÷ remaining life on its lease

= $105,600 ÷ 8

= $13,200 per year

7 0
3 years ago
15. Physical counts of inventory: A) Are not necessary under the perpetual system. B) Are necessary to adjust the Inventory acco
Naily [24]

Answer: The correct answer is "B. Are necessary to adjust the Inventory account to the actual inventory available."

Explanation: Physical counts of inventory are necessary to adjust the Inventory account to the actual inventory available.

Physical inventory counts are generally performed at the end of an accounting period to adjust the accounting balance to the actual physical amount of inventory as it may differ due to missing, lost, stolen, decreased, etc.

5 0
3 years ago
Read 2 more answers
The first step in rational decision-making is to Group of answer choices choose a person who could evaluate the decision. choose
mr Goodwill [35]

Answer:

identify the criteria that are important in making the decision.

Explanation:

Rational decision-making is a step-by-step method for choosing the best choice from the options and is carried out on the basis of reasoning, objectivity and examination of any factor before concluding

Therefore according to the above explanation the correct answer is to identify the criteria that are important in making the decision as it is the first step of rational decision making.

7 0
3 years ago
Under a divorce decree executed in 2019, Duron is required pay $800 of alimony and $400 of child support each month for the next
pashok25 [27]

Answer:

The total monthly payments that are deductible by Duron are:

$1,200 each month for the next 10 years.

Explanation:

According to the IRS rules, if Duron pays his ex partner payments each month which are not documented by the court, the money is not tax deductible. Therefore, it is beneficial for Duron to receive a court order to pay the additional alimony if Duron plans on enjoying a tax deduction for the additional spousal support of $200.

4 0
3 years ago
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