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3 years ago

What is a tax refund?

Business

1 answer:

Tatiana [17]3 years ago

8 0

Answer:

A tax refund is essentially a payment to the taxpayer when the taxpayer pays more tax than they owe.

Explanation:

May I have brainliest please? :)

You might be interested in

How is your opportunity cost of taking this course online different than taking it on-campus?

olga_2 [115]

Answer:

Online classes is new trend now these days. Both ways have their own advantage and disadvantages.

Explanation:

Now these days the trend of online classes are on top. This is not a longer novelty. This mode of learning changes the structure and experience of the class.

It is not necessary that the changes could be right for all. There are some advantage of online classes.

Flexible schedule
Faster completion
To study anytime
To login from anywhere
To access the more colleges
No commute

It has potentially lower cost

But in traditional classroom in campus, you have to attend the classes at campus. You will meet new people. Students get socialize with another students and new people

Both way of taking course have advantage and disadvantage.

8 0

3 years ago

At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $10

mylen [45]

Answer:

DR BAD DEBTS (EXPENSE) 1958.35

CR ACCOUNTS RECEIVABLE 1958.35

DR ACCRUED INCOME 13 600

CR INCOME TAXES 13 600

5 0

4 years ago

Read 2 more answers

Management is considering using a new component that would increase the unit variable cost by $50. Since the new component would

katrin [286]

Answer:

Because fixed costs will not change, the overall effect on the company's monthly net operating income will be equal to the contribution margin of the product once the new component is added.

Explanation:

The contribution margin is equal to: Revenue - Variable Costs.

We already know that the variable cost will be increased by $50 once new component is added, and that monthly sales are expected to increase by 500 units after that.

Depending on the price of the product, the amount sold, and the variable costs, we get the contribution margin, and this contribution margin will be exactly the same as the overall effect on the net operating income.

7 0

3 years ago

Mountain Monster Desert Dragon 2 Sales price $5,000.00 $5,275.00 3 Variable cost of goods sold 3,275.00 3,500.00 4 Manufacturing

zalisa [80]

Answer:

The question requires that we prepare a contribution margin report based on the format provided in the full question which is attached herewith:

Explanation:

Contribution Margin Report by Product

Mountain Monster Desert Dragon

Revenue(4900*$5000)(4750*$5275) $24,500,000 $25,056,250

Variable cost of goods sold

($3275*4900)($3500*4750) ($16,047,500) ($16,625,000)

Manufacturing margin

($1725*4900)($1775*4750) $8,452,500 $8,431,250

Variable selling expenses

(225*4900)(825*4750) ($1,102,500) ($3,918,750)

Contribution margin

(1500*4900)(950*4750) $7,350,000 $4,512,500

Contribution margin ratio 30.00% 18.01%

(contribution/sales)

$7350,000/$24,500,000*100=30%

$4,512,500/ $25,056,250=18%

Download xlsx

7 0

3 years ago

During January 2018, the following transactions occur:

umka2103 [35]

Answer:

See explanation section

Explanation:

Jan. 1 Equipment Debit $20,300

Cash Credit $20,300

To record the purchase of equipment assuming by cash.

Jan. 4 Accounts payable Debit $10,300

Cash Credit $10,300

To record the cash paid to accounts payable.

Jan. 8 Purchase Debit $90,900

Accounts payable Credit $90,900

To record the purchase of additional inventory (supplies) on account

Jan. 15 Cash Debit $22,800

Accounts receivable Credit $22,800

To record the cash received from customers

Jan. 19 Salaries expense Debit $30,600

Cash Credit $30,600

To record the cash paid for salaries expense

Jan. 28 Utilities expense Debit $17,300

Cash Credit $17,300

To record the cash paid for utilities expense

Jan. 30 Accounts receivable Debit $228,000

Sales Credit $228,000

To record the sales on account.

6 0

4 years ago

Read 2 more answers