Answer:
about six to eight weeks
Explanation:
If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.
Answer:
Gain recognized by Tom is $10000
So option (b) will be correct answer
Explanation :
We have given liability on bulding assumed by Paul Corp = $30,000
Tom's adjusted basis in the building = $20,000
Since the liability assumed by Paul Corp on the building is greater than Tom's adjusted basis, Tom must recognize gain equal to the difference between the liability on the building and his adjusted basis.
So gain recognized by Tom = $30,000 - $20,000 = $10,000
Answer:
Favorable for price and unfavorable for usage.
Explanation:
Provided Information,
Standard Material = 2.2 pounds per unit
Standard cost = $2 per pound
Actual Quantity = 2.3 pounds per unit
Actual cost = $1.95 per pound
In Material Price variance we have = (Standard Price - Actual Price) 
Actual Quantity
Since Standard Price $2 is more than actual price = $1.95 the variance is favorable.
In material quantity variance we have = (Standard Quantity - Actual Quantity) Standard Rate
Since actual quantity used = 2.3 pounds is more than standard 2.2 pounds the variance will be unfavorable
Therefore, Price Variance = Favorable, and Quantity Variance = Unfavorable.
Answer:
$0
Explanation:
Bonita is a person, not a company, therefore she cannot record operating losses. This is a not a common situation since you generally don't have more deductions than gross income, but it is a possible situation. For example, if Bonita had a lot of medical expenses during the last year and they accumulated to actually more than her salary. She may have paid them using her savings, selling some assets or by obtaining a loan.
Answer:
The correct answer is $1,836,742.42.
Explanation:
According to the scenario, the given data are as follows:
EBIT = $373,000
Cost of equity = 13.2%
Tax rate = 35%
So, we can calculate the unlevered value of the firm by using following formula:
Unlevered value of the firm = EBIT × (1 - TAX RATE) ÷ COST OF EQUITY
By putting the value, we get
Unlevered value of the firm = $373,000 × ( 1 - 35%) ÷ 13.2%
= $373,000 × 0.65 ÷ 0.132
= $242,450 ÷ 0.132
= $1,836,742.42
