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Aleks [24]
3 years ago
11

In the United States, if someone is unable to file by the tax deadline, that person can file an extension but any taxes due must

still be paid by the deadline to avoid penalties. True False
Business
2 answers:
Wewaii [24]3 years ago
8 0

Answer: TRUE

Explanation:

While an extension gives you extra time to file your return, it does not give you extra time to pay your tax. Payments are still DUE by DEADLINE for the tax year. But an extension can help reduce your penalties if you can't afford to pay in full by the deadline.

Failure to do so on the deadline usually attracts a 5% failure penalty.

mrs_skeptik [129]3 years ago
3 0
From the given statement above, the correct answer would be TRUE. If someone is unable to file by the tax deadline, that person can file an extension, but any taxes due must still be paid by the deadline to avoid penalties. This is true in the United States. 
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How are instrument families created?
Grace [21]
Musical instruments are grouped into families based on how they make sounds. In an orchestra, musicians sit together in these family groupings. But not every instrument fits neatly into a group. For example, the piano has strings that vibrate, and hammers that strike.

Hope I helped ❤️
Plz mark me brainiest? :)
5 0
3 years ago
You win the lottery and must decide how to take the payout. Use a 10​% discount rate. What is the present value of $ 12 comma 00
AlexFokin [52]

Answer:

PV= $45,489.44

Explanation:

Giving the following information:

Discount rate= 10%

Cash flow= $12,000

Number of years= 5

First, we need to calculate future value. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {12,000*[(1.1^5) - 1]} / 0.1

FV= $73,261.2

Now, the present value:

PV= FV/(1+i)^n

PV= 73,261.2/1.1^5

PV= $45,489.44

8 0
3 years ago
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the lab
maw [93]

Answer:

The productivity increased from 0.89 carts pwe worker per hour to 0.93 arts per worker per hour.

Explanation:

5 worked make 80 carts per hour

Worker receive $10 dollar per hour = $50 dollars wages epxense

Machine cost  $40 dollar per hour

A worked is crow-out from factory and the equipment cost increased by $10

The total cost still is $90 dollars but the output now is 84 carts

Labor Productivity (before purchase of new equipment)  

80 carts

(5 wkrs .∗$ 10 per hr .)+$ 40

= 0.89 carts per worker per hour

Labor Productivity (after purchase of new equipment)

84 carts

(4 wkrs .∗$ 10 per hr .)+$ 50

= 0.93 carts per worker per hour

<u>Question missing:</u>

Compute labor productivity under each system (before and after the purchase of new equipment). <u>Use carts per worker per hour</u> as the measure of labor productivity.

7 0
3 years ago
A company incurs factory overhead costs of $1,200 and applied $1,500. If the difference is considered immaterial, then the:_____
maksim [4K]

Answer:

b) adjusting entry will require a credit to Cost of Goods Sold.

c) Factory Overhead account has a credit balance of $300 before adjusting.

Explanation:

Given that

Actual Overhead = $1200 i.e. debited to the factory overhead account  

And,

Applied overhead = $1500 i.e. Credited to the factory overhead account

So, the Factory overhead account has a credit balance of $300 prior adjusting

Also the applied overhead is higher than the actual one so the adjusting entry would needed to credit to the cost of goods sold  

6 0
3 years ago
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given
Tju [1.3M]

Answer:

A. Total assets $31,250 $25,000

Total abilities and equity $31,250 $25,000

B. Statement 1 is FALSE

Statement 2 is TRUE

Explanation:

A . Using the information given to complete the balance sheet

Cold Goose Metal Works Inc Balance Sheet For Year Ending December 31 (Millions of Dollars)

Year 1 Year 2

ASSETS

Current assets:

Cash and equivalents

$5,766 $4,612

(14,062 – 6,187-2,109 = $5766)

Accounts receivable

2,109 1,688

Inventories

6,187 4,950

Total current assets

$14,062 $11,250

Net fixed assets:

Net plant and equipment

$17,188 $13750

( 31,250-14,062 = $17,188)

Total assets $31,250 $25,000

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

$0 $0

Accruals

293 0

Notes payable

1,660 1,562

Total current abilities

$1,953 $1,562

(0+293+1,660 = $1,953)

Long-term debt

5,859 4,688

Total debt

$7,812 $6,250

Common equity

Common stock

15,235 12,188

Retained earnings

$8,203 6,562

(23,438-15,235 = $8,203)

Total abilities and equity $31,250 $25,000

Net Plant and Equipment= 31250-14062

Net Plant and Equipment = $17188

Cash and Equivalents = 14062 – 6187-2109

Cash and Equivalents= $5766

Total Current liabilities = 0+293+1660

Total Current liabilities = $1953

Retained earnings = 23438-15235

Retained earnings= $8203

B. To identify the selection that best interprets the information conveyed by the balance sheet.

Based on the information given STATEMENT 1 is FALSE reason been that Cold Goose’s total current asset balance increased from the amount of $11,250 million to the amount of $14,062 million between Year 1 and Year 2.

Based on the information given STATEMENT 2 is TRUE reason been that their was increased in retained earnings account between the end of Years 1 and year 2.

5 0
3 years ago
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