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3 years ago

Citizens file income tax is to a sure that they will receive ?

Business

1 answer:

anastassius [24]3 years ago

5 0

Answer:

Down below

Explanation:

Citizens file income taxes to ensure that they will receive a if they paid too much in taxes throughout the year. Employers supply a to help citizens file their tax returns.

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The following information pertains to Lightning Inc., at the end of December: Credit Sales $ 20,000 Accounts Payable 10,000 Acco

OLEGan [10]

Answer:

Lightning Inc.

Computation of Bad Debts Expense:

7% of $7,500 = $525

21% of $1,600 = 336

46% of $1,300 = 598

Total $1,459

Explanation:

a) Data and Calculations:

Credit Sales $ 20,000

Accounts Payable 10,000

Accounts Receivable 10,400

Allowance for Uncollectible Accounts 400 credit

Cash Sales 20,000

Lightning uses the aging method and estimates it will not collect 7% of accounts receivable not yet due, 21% of receivables up to 30 days past due, and 46% of receivables greater than 30 days past due.

The accounts receivable balance of $10,400 consists of $7,500 not yet due, $1,600 up to 30 days past due, and $1,300 greater than 30 days past due.

Age Analysis of Accounts Receivable balance of $10,400

Not yet due up to 30 days greater than 30

past due days past due

Percentage 7% 21% 46%

Balance $7,500 $1,600 $1,300

Bad debts $525 $336 $598

Bad debts Expense = $1,459

6 0

3 years ago

Compare and contrast the U.S. Constitution and the Arizona Constitution. Discuss three findings that account for the significant

marysya [2.9K]

Development, Structure and powers of U.S constitution and Arizona constitution have a huge comparison.

<u>Explanation: </u>

Unlike the United States Constitution, which was embraced in 1787, that wasn't until 1912 that perhaps the Arizona Constitution was accepted, leading to the creation of the 48 states

The common terms,' we the people' all constitutions begin with, but include many different things. After all, there were certain differences between one condition and another for a set of fifty.

The Arizona Constitution states that the legislature must be split into three parts-Legislative, Legislative and executive–which are not applicable to the United States Constitution

Many think of forms to deny or expel someone from office. They will enforce them in both Constitutions. All define the qualifications for their office if they would like to run for office. Another connection that I found was apparent but significant nonetheless.

They both mention the theme of religious liberty, one of the most valuable values in our society. Eventually, both inspire their lawmakers to negotiate with them.

5 0

3 years ago

HURRY HURRY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

lawyer [7]

No, its okay not to use all that extra stuff, so F

6 0

3 years ago

Read 2 more answers

Identify which control activity is violated in each of the following situations, and explain how the situation creates an opport

Inessa05 [86]

Answer:

1. Once a month, the sales department sends sales invoices to the accounting department to be recorded.

⇒ documentation procedures

Unless all of the company's sales take place only once a month, sales should be recorded as soon as possible. Accounting records must be as precise and accurate as possible, and they must be processed on time. Stacking invoices makes no sense, since sales might be on cash or the collection period might be very short. Who holds the money until the sales records are made?

2. Leah Hutcherson orders merchandise for Rice Lake Company; she also receives merchandise and authorizes payment for merchandise.

⇒ segregation of duties

One single person cannot be responsible for the whole process, since this creates a huge opportunity for fraud. Imagine if the person in charge of the inventory is also in charge of making new purchases, paying for them and reporting ending inventory. No company would be able survive one year, while the person in charge would get rich.

3. Several clerks at Great Foods use the same cash register drawer

⇒ establishment of responsibility

If everyone is allowed to collect money, no one can be responsible for any loss.

6 0

3 years ago

Minor Electric has received a special one-time order for 1,500 light fixtures (units) at $5 per unit. Minor currently produces a

lara31 [8.8K]

Answer:

A special order for 1,125 units generates $1,250 in extra profit. This order (1,500 units) increases profits by $2,000

Explanation:

special order for 1,500 units at $5

regular production 7,500 units at $6

spare capacity 2,500 units (total capacity = 7,500 / 75% = 10,000)

production costs of regular units:

variable costs = $3 per unit
fixed costs = $1.50 per unit
total = $4.50 per unit

new machine is required that costs $1,000

regular fixed costs are not affected by special order

profit from special order:

total revenue = 1,500 x $5 = $7,500
relevant costs = 1,500 x $3 = ($4,500)
new machine = ($1,000)
additional profit from special order = $2,000

But Minor only wishes to earn $1,250 from special order, so the number of units should be:

($1,000 + $1,250) / ($5 - $3) = $2,250 / $2 = 1,125 units

6 0

3 years ago