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3 years ago

Why is it necessary to have a W-2 or 1099 form when using tax preparation software?

1 answer:

8 0

It is necessary to have these forms because they would help to report income that is gotten by a person that are not through employment.

The 1099 helps to record the amount that is earned by a person who is not employed.

The 1099 helps to calculate either the dividends that a person gets through the fact that they own stocks or the interests that they accrue from keeping their money in the bank.

The W-2 is used by employers to record the income of their employees. The W-2 also tells the employee the amount of taxes that was withheld from their pay.

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Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can

irinina [24]

Answer:

Option (a) is correct.

Explanation:

Alland can produce 32 units of food per person per year or 16 units of clothing per person per year:

Opportunity cost of producing a unit of food = (16 ÷ 32)

= 0.5 units of clothing

Opportunity cost of producing a unit of clothing = (32 ÷ 16)

= 2 units of food

Georgeland can produce 36 units of food per year or 18 units of clothing:

Opportunity cost of producing a unit of food = (18 ÷ 36)

= 0.5 units of clothing

Opportunity cost of producing a unit of clothing = (36 ÷ 18)

= 2 units of food

Therefore, the Georgeland has a absolute advantage in producing both the goods because it can produce more quantity of both the goods with the same resources as Alland. But the Georgeland has not having comparative advantage in producing either of the goods.

5 0

4 years ago

For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31.

Anastaziya [24]

Answer:

Step 1) The current balance equals to $ 9000

Step 2)The current balance should equal to (9000/12 * 10) $ 7500

Step 3) the adjusting entry would be

Dec 31 Unearned Revenue $ 1500 (dr)

Revenue Earned $ 1500 (Cr)

Step 1) The current balance equals to $ 400.

Step 2) The current balance should equal $ 100

Step 3) The adjusting entry would be

Dec 31 Unearned Services Revenue $ 300 (dr)

Services Revenue Earned $ 300 (Cr)

Step 1) The current balance equals to $ 3000.

Step 2) The current balance should equal ( $ 30,000/12 *4= $ 10,000) $ 30,000- $ 10,000= $ 20,000

Step 3) The adjusting entry would be

Dec 31 Unearned Rent Revenue $ 10,000 (Dr)

Rent Revenue Earned $ 10,000 (Cr)

5 0

4 years ago

Aubree Blake is a politician who leads campaigns for organic foods in the rural counties of her country. Several farmers in diff

Mariana [72]

Answer:

A. People marketing.

Explanation:

In this scenario, several farmers in different areas have started organic farming because of the popularity of Blake's campaigns; even uneducated people trust the advantages of the campaign because of Blake's involvement in it. This is a people marketing strategy.

8 0

4 years ago

Demand"" is a series of prices and the related quantities that consumers are willing and able to buy at a particular ___________

Nonamiya [84]

Answer:

given price in a given time period

Explanation:

Demand is the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period. Each of us has an individual demand for particular goods and services and our demand at each price reflects the value that we place on a product, linked usually to the enjoyment or usefulness that we expect from consuming it. Law of demand states that If the price of something goes up, people are going to buy less of it.The higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand is based on needs and wants a consumer may be able to differentiate between a need and a want, but from an economist’s perspective they are the same thing. Demand is also based on ability to pay. If you cannot pay, you have no effective demand. What a buyer pays for a unit of the specific good or service is called price. The total number of units purchased at that price is called the quantity demanded. An increase in the price of a good or service almost always decreases the quantity demanded of that good or service. Conversely, a decrease in price will increase the quantity demanded.

7 0

3 years ago

I haven't asked a question in a while so how was your easter?

Pie

Answer:

Good

Explanation:

How about yours???

6 0

3 years ago

Read 2 more answers