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stealth61 [152]
4 years ago
15

If a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the approp

riate action to take?
Business
2 answers:
daser333 [38]4 years ago
7 0

Being on a responsible seat of tax collection department, if a taxpayer offers you $20 in return of your good services, the appropriate action would be NOT to accept the bill. Say him NO in a polite manner and tell him that this is his job and he is already paid by the company for his quality services, so he cannot accept the money.

This will make the taxpayer even happier with the services.

So saying him No, would be the appropriate action.

damaskus [11]4 years ago
4 0
In the case of the scenario given above, the most appropriate action to take is to THANK THE TAX PAYER AND EXPLAIN THAT YOU CAN NOT ACCEPT ANY PAYMENT FOR YOUR SERVICES.
The principal mission of VITA/TCE [Volunteer Income Tax Assistant /Tax Counselling for the Elderly] is to assist tax payers in filling tax forms correctly without collecting any money from them. Thus, it is part of the standard of the program that volunteers should never accept any form of payment or solicit for donations in return for the services that they render. 
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Your neighborhood self-service laundry is for sale and you consider investing in this business. For the business alone and no ot
Oduvanchick [21]

Answer:

  • The complete present value calcuation is below.

  • The net present value of this project is: $77,930.58 (assuming a value for the sale of the business equal to the purchase price).

Explanation:

For this problem, the first and basic question is:

  • <em>Prepare a net present value calculation for this project. What is the net present value of this project?</em>

<em />

<h2>Solution</h2>

The net present value is equal to: the present value of the future cash flows less present value of the investements.

<u>1. Present value of the future cash flows:</u>

The discount factor is equal to 1 / [1 + (1 + r)ⁿ]

Where:

  • r = 5% = 0.05
  • n = the number of year

Year     Cash flow     Discount factor     Present value

1            $30,000       1/(1 + 0.05)             $30,000/1.05 = $28,571.43

2           $30,000       1/(1 + 0.05)²           $30,000/(1.05)² = $27,210.88

3           $30,000       1/(1 + 0.05)³           $30,000/(1.05)³ = $25,915.13

4           $30,000       1/(1 + 0.05)⁴           $30,000/(1.05)⁴ = $24,681.07

5           $30,000       1/(1 + 0.05)⁵           $30,000/(1.05)⁵ = $23,505.78

5           $240,000*   1/(1 + 0.05)⁵           $240,000/(1.05)⁵ = $188,046.28

*For the year 5 you must also consider the value of the business, which is unknow. You should have some information about it. Although unrealistic, at this stage we can just assume a value: let's say it is the same purchase price: $240,000. That is what the last line shows:

The discount the value of the value of the business is:

  • $240,000 / (1.05)⁵ = $188,046.28

The total present value of the future cash flows is the sum of the present values of all the cash flows:

$28,571.43 + $27,210.88 + $25,915.13 + $24,681.07 + $23,505.78 + $188,046.28 = $317,930.58

<u>2. Calculate the net present value:</u>

  • Net present value =

                     = Total present value of future cash flows - investment

  • Net present value = $317,930.58 - $240,000 = $77,930.58
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3 years ago
Put the following steps of the problem solving process in correct order. Question 2 options: Implement the Model Identify what i
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Answer:

I. Identify what is the problem

II. Acquire the data

III. Develop the model

IV. Implement the Model.

V. Do the results look right.

Explanation:

The problem-solving process can be defined as the systematic approach used to identify and determine the solution to a particular problem.

The steps involved in the problem-solving process are;

1. Identify and define the problem: this is the first step to be taken in solving a problem. This is to ensure that, the focus is on the main issue or situation and all efforts is channeled in the right direction rather than the symptoms.

2. Gathering of information: this helps to consider the options available in solving a problem effectively.

3. Consider your options: this helps to compare the available and viable solutions to the problem.

4. Weigh disadvantages and evaluate a solution: you weigh the disadvantages of each solution, before choosing the one with the least disadvantages.

Hence, the fundamental steps of the problem solving process in the correct order are;

I. Identify what is the problem

II. Acquire the data

III. Develop the model

IV. Implement the Model.

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Answer:

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Explanation:

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3 years ago
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BartSMP [9]

Answer:

Explanation:

Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer  fro the year, dividend paid during the year etc.

                    Splish Corporation

           Retained Earning Statement

  for the year ended December 31, 2020

                                                                          $

Retained Earning at January 1, 2020           707,000

Less: Cash Dividend paid during 2020       85,000

Add: Net Income for the year 2020             <u>1,428,500</u>

Retained Earning ath December 31 2020   <u>2,050,500</u>

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3 years ago
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