2 years ago

Formal tax definition

2 answers:

7 0

Answer:

Formal tax legislation is the process by which a proposed tax rule or tax change may become law in the United States. Formal tax legislation follows specific steps as defined by the U.S. Constitution.

Explanation:

https://www.investopedia.com/terms/f/formaltaxlegislation.asp

const2013 [10]2 years ago

4 0

Answer:

Explanation:

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Answer:

The Designer Journal Entry

Date General Journal Debit Credit

July 31 Unearned Revenue $7,500

Design Services Revenue $7,500

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3 years ago

Following are a number of unrelated transactions for the Village of Centerville, some of which affect governmental activities at

Dmitrij [34]

Answer:

The answer is attached below

Explanation:

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3 years ago

On June 30, 2024, the Esquire Company sold some merchandise to a customer for $54,000. In payment, Esquire agreed to accept a 7%

Paraphin [41]

The income before income taxes is 2024 understated by $1,890 and 2025 overstated by $1,890.

<h3>Income before taxes</h3>

Esquire Company journal entries

June 30, 2024

Debit Note receivable $54,000

Credit Sales $54,000

Dec 31, 2024

Debit Interest receivable $1,890

Credit Interest Income $1,890

($54,000 x 7% x6/12)

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Debit Cash $56,835

Credit Interest receivable $1,890

Credit Interest income $945

($54000 x 7% x 3/12 )

Credit Note Receivable $54,000

Therefore the income before income taxes is 2024 understated by $1,890 and 2025 overstated by $1,890.

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2 years ago

Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was p

Eddi Din [679]

Answer: $2650

Explanation:

Using the specific identification method, its ending inventory (after the December 24 sale) will be:

Units for sale = 5 units

Units sold = 1

It should be noted that the unit that was sold was the one that was bought on July 9th.

Ending units will now be:

= $800 + ($2 × $900) + $950 - $900

= $800 + $1800 + $950 - $900

= $3550 - $900

= $2650

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3 years ago

According to the american bar association, about ______ % of all divorces involve disagreements over money. question 2 options:

yanalaym [24]

50% is what i found, not sure though

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3 years ago

Formal tax definition​

Formal tax definition