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3 years ago

We have received your tax return and it is being processed. what does this mean

1 answer:

3 0

A form on which a taxpayer makes an annual statement of income and personal circumstances, used by the tax authorities to assess liability for tax.

Ah so ^-^

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On January 1, 2015, Kinney, Inc., an electing S corporation, holds $5,000 of AEP and $9,000 in AAA. Kinney has two shareholders,

saveliy_v [14]

Answer:

e. None of the above.

Explanation:

Please see attachment

6 0

3 years ago

Mr. smith has an income of $40,000 this year and $60,000 next year. he can invest in a project that costs $30,000 this year, whi

Phoenix [80]

The income and expenses Mr. Smith Incurs this year:

Income: $40,000

Project Cost this year: $30,000

Consumes: $50,000

Consumption this year = $40,000 - $30,000 - $50,000

Consumption this year = -$40,000

Future value of the conumption this year = -$40,000*1.1 = -$44,000

Consumption next year:

Income : $60,000

Income from the project: $36,000

Total income next year = $96,000

Consumption next year = -$44,000 + $96,000

<u>Consumption next year = $52,000</u>

Thus consumption next year is $52,000

6 0

4 years ago

The following information is available for Bonita Industries: Allowance for doubtful accounts at December 31, 2019 $23500 Credit

Liula [17]

Answer:

$22,100

Explanation:

With regards to the above, the calculation for bad debt expense is is given as;

= Bad debt expense balance required + bad debt written off from accounts receivables - Existing bad debt allowance balance

= $16,700 + $28,900 - $23,500

= $22,100

Therefore, bad debt expense for the year ended December 31, 2020 is $22,100

5 0

4 years ago

What are the 5 types of insurance

fenix001 [56]

Answer:

- Health Insurance

- Auto/Car Insurance

- Life Insurance

- Renters/Home Insurance

- Disability Insurance

Explanation:

There are other forms or insurance including: Liability, Worker's Compansation, and Errors and Immisions.

But the ones listed above are the general types.

Hope this helps!! <3

3 0

3 years ago

MC Qu. 104 Butler Corporation is considering... Butler Corporation is considering the purchase of new equipment costing $69,000.

Novosadov [1.4K]

Answer:

NPV ($4,452)

Explanation:

The net present value of the investment made can be calculated as under:

NPV = (Annual Net Cash inflow * Annuity Factor at 9% for 3 years) - Initial investment

Here

Initial investment is $69,000

The depreciation is the non cash item which must be removed so the annual cash inflow would be:

Annual Net Cash inflow = $2,500 + $23,000 Non cash item = $25,500

The annuity factor at 9% for three years is given and is 2.5313

So putting above value in the equation, we have:

Net Present Value = ($25,500 * 2.5313) - $69,000

Net Present Value = $64,548 - $69,000

Net Present Value = ($4,452)

4 0

3 years ago