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3 years ago

1. What are some strategies that you can use to prepare to file taxes each year? What would

Business

1 answer:

levacccp [35]3 years ago

4 0

Answer:

1. Some strategies used to prepare filing taxes each year could include keeping each receipt knowing exactly what you spend, along with a filing system to sort out each piece of information needed for filing taxes with creating new folders and subfolders within.

2.They help pay for roads and other government projects.

3.Personal financial planning method of planning, financing, and investing activities, the taxes help us in meeting our goals and desires. Taxation affects the planning as it created a need and demand for money at the time of retirement. As proper planning is influenced by the taxes and they help to decide more clearly the person's finances and things you want. Hence they help in planning cautiously and adequately.

4. Four types of taxes that you can pay are the State Withholding Tax, a Federal Withholding Tax, a Property Tax, and a Sales Tax. Both withholding taxes are withheld from your paycheck going into state officials and federal officials. Property Taxes are charged against any personal property that you own, and Sales Tax is what you pay on any purchases that you buy, each price varying depending on what state or country you're in.

5. Challenges Faced By people When Filing Their Income Tax Returns:

Failure to enter the correct details.

Incorrect computation income.

Mismatch of important details.

When the employer does not give HRA benefits.

Failure to calculate some deductions which can be claimed.

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There’s 15 questions and this is 5.

son4ous [18]

I believe the answer is preparing a list of vegetables to purchase. That’s the only option that makes sense with his job.

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3 years ago

Divine plc is a pure-honey producing plant. The firm wants to replace its aging processing machine. One option is to purchase a

AleksAgata [21]

Answer:

Project A

Years Cashflows Discount factor Present values

0 250,000 1 -250,000

1-10 45,100 6.144 277,094.40

Sum of all present value=NPV=27,094.40

IRR (by using trial and error method) = 12.4696%

Note: Discount factor for the year 1-10 is calculated by using annuity formula i.e [1-(1+10%)]/10% = 6.144

Project B

Years Cashflows Discount factor Present values

0 (350,000) 1 (350,000)

1 72,500 0.91 65,975

2 65,500 0.83 54,365

3 73,800 0.75 55,350

4 71,500 0.68 48,620

5 69,800 0.62 43,276

6 75,500 0.56 42,280

7 31,000 0.51 15,810

8 47,500 0.47 22,325

9 55,500 0.42 23,310

10 29,200 0.38 11,096

Sum of all present values=NPV=32,407

IRR(by using trial and error method=12.4186%

On the basis of NPV project B is better because it gives higher NPV than project A. Whereas, Project A is better than project B on the basis of IRR because project A has slightly higher IRR than project B.

b)The conflict between both the investment appraisal technique is likely due to different cash flow patterns of both the project. In such situation decision should be based on NPV because this is an absolute measure

5 0

3 years ago

Read 2 more answers

The standard costs and actual costs for direct materials for the manufacture of 1,910 actual units of product are as follows: St

vesna_86 [32]

Answer:

$774 unfavorable

Explanation:

The computation of the direct material quantity variance is shown below:

= Standard Price × (Standard Quantity - Actual Quantity)

= $8.60 × (1,910 kilograms - 2,000 kilograms)

= $8.60 × 90 kilograms

= $774 unfavorable

Since it is unfavorable as it derives that actual quantity is more than the standard quantity and in the case of favorable, the actual quantity is less than the standard quantity

6 0

4 years ago

If a firm has a required rate of return equal to the ROE, Group of answer choices the firm can increase market price and P/E by

mario62 [17]

Answer:

the amount of earnings retained by the firm does not affect market price or the P/E

Explanation:

A rate of return refers to the net gain or loss of an investment over a particular time period which is typically a year. It is expressed as a percentage of the investment's initial cost.

The rate of return is referred to as the annual return if the time period is typically a year.

If a firm has a required rate of return equal to the ROE, <u>the amount of earnings retained by the firm does not affect market price or the P/E</u>

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4 years ago

Journalise the followung transactions.

katovenus [111]

Answer:

Explanation:

S/No Date Transaction Dr($) Cr($)

1 Oct.1 Rent Expense 3,600

Cash 3,600

2. Oct.3 Advert. Expenses 1,200

Cash 1,200

3. Oct.5 Supplies 750

Cash 750

4 Oct.6 Office equipment 8000

Accounts Payable 8,000

5 Oct.10 Cash 1 4,800

Accounts receivable 14,800

6 Oct.15 Accounts payable 7,110

Cash 7,110

7. Oct.27 Miscellaneous 400

Cash 400

8 Oct.30 Utilities Expenses 250

Cash 250

9 Oct 31 Accounts receivable 33,100

Fees earned 33,100

10 Oct.31 Utility Expense 1,050

Cash 1050

11 Oct.31 Drawings 2,500

Cash 2,500

3 0

3 years ago