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mr_godi [17]
3 years ago
7

45. Mia is a single, nonresident alien who began studying in the U.S. in 2018 in F-1 immigration status from Australia. She has

wages of $6,700, interest income from her savings account of $230, $50 of dividends, and sold $3,000 of U.S. stocks for a $100 capital gain. She donated $2,000 of the proceeds to a local charity. Could Mia have her return completed at a Foreign Student and Scholar VITA site that has properly certified volunteers
Business
1 answer:
nydimaria [60]3 years ago
7 0

Answer:

Mia could have her return completed at a Foreign Student and Scholar VITA site that has properly certified volunteers.

Explanation:

Nonresident aliens are non-US citizens.  They are expected to pay taxes on the income they earn in the U.S.  An F1 immigration visa is a nonimmigrant visa for those wishing to study in the U.S.  Since Mia earns some income in the US, she is expected to pay her U.S. taxes.  Provided the Foreign Student and Scholar VITA site has properly certified volunteers, Mia can have her tax return completed at the site.

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Heller Company offers an unconditional return policy to its customers. During the current period, the company records total sale
Evgen [1.6K]

Answer:

A. $816,000

Explanation:

The formula to compute the net sales is shown below:

= Total sales - sales returned

where,

Sales returned = Total sales × sales return percentage

                        = $850,000 × 4%

                        = $34,000

And, the total sales is $850,000

Now put these values to the above formula  

So, the value would equal to

= $850,000 - $34,000

= $816,000

5 0
3 years ago
Assume that on July 1, Jerome, Inc., paid $100,000 to buy Potter's 8 percent, two-year bonds with a $100,000 par value. The bond
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Answer:

Dr Potter's 8% Bonds 100000

Cr Cash 100000

Dr Cash 4000

Cr Interest from Bonds 4000

Explanation:

Preparation of the journal entry to Complete the necessary December 31 entry to record

July, 1

Dr Potter's 8% Bonds 100000

Cr Cash 100000

(Being 8% Bonds purchased)

December, 31

Dr Cash 4000

Cr Interest from Bonds 4000

(100,000*8%*1/2)

(Being Interest received on 8% Bonds)

5 0
3 years ago
Bradley Snapp has deposited $5,291 in a guaranteed investment account with a promised rate of 4% compounded annually. He plans t
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Answer:

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7 0
3 years ago
Profit-Volume Chart
Vaselesa [24]

Answer:

Explanation:

Answer a.

Maximum Operating Loss will occur when sale is $0.

If Sale is $0, then Variable Cost will also be $0 and Fixed Cost will be $600,000

Operating Profit = Sales – Variable Expenses – Fixed Cost

Operating Profit = - 600,000

Operating Profit = $ - 600,000

Answer b.

Maximum Operating Loss will occur when sale is $2,500,000.

Units Sold = 20,000 ($2,500,000 / 125)

If Sale is $2,500,000, then Variable Cost will also be $1,500,000 ($75×20,000) and Fixed Cost will be $600,000

Operating Profit = Sales – Variable Expenses – Fixed Cost

Operating Profit = 2,500,000 – 1,500,000 - 600,000

Operating Profit = $ 400,000

Answer c.

4,800 Units :

Operating profit = $125×4,800 - $75×4,800 – 600,000

Operating profit = $ - 360,000

8,000 units :

Operating profit = $125×8,000 - $75×8,000 – 600,000

Operating profit = $ - 200,000

12,000 Units :

Operating profit = $125×12,000 - $75×12,000 – 600,000

Operating profit = $ 0

16,000 Units :

Operating profit = $125×16,000 - $75×16,000 – 600,000

Operating profit = $ 200,000

20,000 Units :

Operating profit = $125×20,000 - $75×20,000 – 600,000

Operating profit = $ 400,000

4,800 Units                   Operating Loss Area

8,000 Units                   Operating Loss Area

12,000 Units                   Break-even Point

16,000 Units                   Operating Profit Area

20,000 Units                   Operating Profit Area

Answer d.

Break-even Sales = 12,000 Units as there is neither operating profit nor loss.

8 0
3 years ago
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