Ononliscnensed preparers are best for straightforward returns because they are trained only in tax preparation and are usually less expensive than they would be A national or local tax service firm.
A tax is a mandatory fee or financial burden that a government imposes on an individual or organization to collect revenues for public works that provide the best facilities and infrastructure. The funds raised will be used to fund various public spending programs. A tax return is a document filed with tax that contains income, expenses, and other relevant financial information. When filing taxes, taxpayers calculate their tax due, plan their taxes, and claim a refund of overpaid taxes. In most cases, tax returns must be filed annually.
The tax rate is applied to taxable income – adjusted gross income less standard or permissible itemized deductions. Therefore, income up to the standard deduction (or personal deduction) is taxed at a zero rate. Federal income tax rates are progressive. As your taxable income increases, you will be taxed at a higher rate.
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Prof. business will have $1,600,000 saved up by retirement at age 65. the retired professor expects to live 20 more years after retiring. how large of an annual annuity withdrawal can prof. finance make at the beginning of each year under this scenario from an account paying 6. 5% compounded annually? round your answer to the nearest dollar.
Answer:
$136348.618
Explanation:
In its first month of operations, a company’s cash account has total debit entries amounting to $27,500 and total credit entries amounting to $24,900. At the end of the month, the cash account has a.
A company's cash account contains total debit entries totaling $27,500 and total credit entries totaling $24,900 in its first month of operations. The cash account has a debit balance of $2,600 at the end of the month.
All of a company's accounts are initially balance-free. During the first month of operation, this company has debit entries for cash totaling $27,500 and credits totaling $24,900 in its cash account. Cash balances in asset accounts rise when debits are made, while credits fall when credits are made. At the conclusion of the period, the cash account will have a $2,600 debit balance (i.e., $27,500 dr. $24,900 cr. = $2,600 dr.; an account has a debit balance when its debits exceed its credits).Any securities transactions involving a cash account with a brokerage firm must be paid for in full using funds in the account at the time of the settlement.
The complete question is :
In its first month of operations, a company's cash account has total debit entries amounting to $27,500 and total credit entries amounting to $24,900. At the end of the month, the cash account has a
a. $2,600 debit balance
b. $2,600 credit balance
c. $$27,500 debit balance
d. $52,400 debit balance
e. $0 balance
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The amount of money that a financial institution is willing to lend the borrower on a particular property is the:__________
The amount of money that a financial institution is willing to lend the borrower on a particular property is the: Interest
What is interest explain?
Interest is the price you pay to take money or the cost that charge to borrow money. Interest is most often reflected as an annual percentage of the amount of a loan. This percentage is called as the interest rate on the loan.
What are types of interests?
The three types of interest containing simple interest, accrued interest, and compounding interest. When money is lends, usually by the means of a loan, the borrower is asked to pay the interest agreed by the two parties.
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What is the population variance of the relative letter frequencies in english text?
According to the dictionary provided, the population variation of the relative letter frequencies in English text is 0.001040566774, or zero. You may anticipate that each letter will appear the same number of times as every other letter in the alphabet because the text is incredibly long and random.
What is population variance?The variation in population data is measured by population variance. Population variance, which describes how data points are distributed within a population, can therefore be defined as the average of the squares of the distances from each data point in a given population to the mean.
32 is obtained by multiplying the square of the deviations of each data point from the mean. This value is divided by the total number of observations (3) to get 10.67.
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By bundling share purchases of many investors together mutual funds can take advantage of economies of scale and thereby lower.
Mutual funds can take benefit from economies of scale and thereby lower transaction costs by bundling share purchases of many investors together.
You can "mutually" acquire stocks, bonds, and other investments through mutual funds, which allow you to combine your money with that of other investors. They are managed by qualified money managers, who choose which securities to acquire (stocks, bonds, etc.) and when to sell them. You have access to any investment made in the fund as well as any revenue it may provide.
Economies of scale are the cost advantages a company has as a result of increasing its output level. The benefit results from the inverse connection between the amount produced and the fixed cost per unit. The fixed cost per unit decreases as production volume increases.
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What is the difference between an appreciating asset and a depreciating asset? give examples of both.
The assets that appreciate in value over time are those. Growing one's wealth may be mostly attributed to financial investments in or ownership of appreciating assets. Contrarily, depreciating assets are those that lose value over time and as they are used.
What are assets?A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. Assets are reported on a company's balance sheet. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's manufacturing equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales.
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Auditing ______ indicate auditors must verify the inventory balance stated on the financial statement is correct and an auditing ______ is to do a physical count of inventory items.
Auditing standards indicate auditors must verify the inventory balance stated on the financial statement is correct and an auditing procedure is to do a physical count of inventory items.
What is auditing?
"Independent examination of financial information of any entity, whether profit-oriented or not, irrespective of its size or legal form when such examination is performed with a view to offer an opinion thereon" is what is meant by an audit.
A physical inventory check is followed by an auditor's review or inspection of various books of accounts to ensure that all departments are using the same documented system of documenting transactions. It's done to make sure the organization's financial accounts are accurate.
Therefore,
Auditing standards indicate auditors must verify the inventory balance stated on the financial statement is correct and an auditing procedure is to do a physical count of inventory items.
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The difference between the price at which an investment banking firm buys shares from an issuing company and the price at which those securities are sold in the primary market is called the:_________
The difference between the price at which an investment banking firm buys shares from an issuing company and the price at which those securities are sold in the primary market is called the Underwriter's spread.
What is the Underwriter's spread?The Underwriter's spread refers to the amount that the Underwriter gets to benefit from underwriting the sale of a stock.
It is calculated by deducting the amount that the Underwriter sells the stock in the primary market, from the amount that the underwriter (investment banking firm) company buys the shares from the company.
Options for this question are:
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The ________ element of the marketing mix is demonstrated when a company runs a commercial on hulu. product price promotion place process
The promotion element of the marketing mix is demonstrated when a company runs a commercial on Hulu.
This is further explained below.
What is promotion?Generally, A promotion is a process of moving a person up in rank or position within the structure of an organization's hierarchical organization.
A favorable assessment and promotion are two possible outcomes that might result from an employee's strong performance.
In conclusion, When a corporation broadcasts an advertisement on Hulu, they are exemplifying how they will use the promotion component of the marketing mix.
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complete question
The ________ element of the marketing mix is demonstrated when a company runs a commercial on Hulu.
Multiple Choice
place
price
promotion
process
product
An environmental impact statement (eis) must contain a cost-benefit analysis of the proposed action and alternative actions.true /false
It is true that an environmental impact statement (eis) must contain a cost-benefit analysis of the proposed action and alternative actions.
What is an environmental Impact statement?An environmental impact statement (EIS), which is a legally binding government document, outlines how a proposed project will harm the environment. In the US, federal law mandates specific disclosures for specified projects. Environmental impact assessments are meant to help local governments and policymakers with their job and decision-making.
Introduces the Proposed Action, its Need, and its Goals in Section 1The baseline for comprehending the current environmental status in connection to the proposed action is provided in Section 2, which describes the Affected Environment.The "heart" of the EIS is Section 3 which presents a variety of alternatives to the proposed action. A No Action Alternative is always offered.Section 4 analyses the effects on the environment of each proposed action and the available alternatives.The EIS may also cover other subjects that are not necessary for every project, such as financial plans, environmental mitigation plans, and compliance strategies for any extra federal, state, or local permits.
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Samantha deposits $1,500, into the park street bank. the account pays 4.12 nnual interest, compounded daily. to the nearest cent, how much is in the account at the end of three non-leap years?
The correct answer is $1,551.255.
The below-mentioned formula may be used to determine the amount.
A = p x ( 1 + r) ^n
Where A = Amount
p = Principal
r = Rate
Explanation:P= $1500
r=1.12% or 0.0112 per year.
Daily interest rate = 0.0112/365
n = 365 days x 3 = 1095
A = 1500 x( 1 + 0.0112/365)^1095
A = $1500 x ( 1.00003068493)^1095
A = $1500 x 1.034170
A = $1,551.255
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Patent infringement occurs in one of two ways: _______ or _______.
Patent infringement occurs in one of two ways Literal Infringement or Non- Literal Infringement.
The expression Literal Infringement implies that every component presented in a case has an indistinguishable correspondence in the supposedly encroaching gadget or cycle.
Non-Literal Infringement happens while the encroaching gadget or process might be comparable or identical to the asserted creation and carries out considerably a similar role, in significantly the same way and to accomplish significantly a similar outcome.
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Since budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has no impact on human behavior, motivation and decision making. true false
Since budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has no impact on human behavior, motivation and decision making. This is false.
What is budgeting?The process of making a spending plan is known as budgeting. Budget refers to this plan for spending money. By making this spending plan, you can predict whether you will have enough money to take care of the things you need to or want to do.
It should be noted that budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has impact on human behavior, motivation and decision making. Budgeting is important in our lives.
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Many firms benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign countries. this trend is referred to in the textbook as a(n) ________ trend.
Many firms benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign countries. This trend is referred to in the textbook as a(n) Business trend.
What is Business trend?You may forecast where your existing business operations and practises will lead you with the aid of trend analysis, which enables you to comprehend how your company has fared. If you do it well, it will inspire you with suggestions for how you might alter your operations in order to steer your company in the right path.
A broad modification in the direction that business is going: The next wave of employment creation is unknown to economists in terms of the specific business trend.
Financial market trends, like those of the NASDAQ or the New York Stock Exchange, are frequently considered to be synonymous with the phrase "business trend." These patterns might also be connected to the performance of stock market indices like the Dow Jones Industrial Average or the Standard and Poor's 500.
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When pizza company sells three $100 gift cards at the beginning of the month, it should record a debit to ______ and credit to ______ for $300.
As pizza company sells three $100 gift cards at the beginning of the month, it should record a debit to Cash and credit to Deferred Revenue for $300.
What is a Cash account?In accounting, the cash account may refer to a ledger in which all cash transactions are recorded. These cash account includes both the cash receipts journal and the cash payment journal.
What is a Deferred Revenue?In accounting, the deferred revenue is a record of income received for a product or service that has yet to be delivered. It is also an unearned revenue that happens when a customer prepays a company for something.
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it is a rainy day, and you are considering taking an uber one mile to meet some friends. you have decided you are willing to pay $20 to avoid getting wet from the rain. the trip would normally cost you $8, but because of the weather the surcharge is twice the regular cost. you should because the benefit to you of taking the uber is than the cost.
You should take an Uber because the benefit to you of taking the Uber is more than the cost.
The term "cost" refers to the sum of all (actual or hypothetical) expenses incurred for or related to a given thing or activity. Cost is the amount of money spent by a business to produce or create goods or services. It excludes the profit margin markup. Cost is the sum of money spent on making a good or product, as seen from the seller's perspective. Costing is necessary to make sure that all costs are met and that the group decides on a price that will result in a profit. Finding all of a company's costs, including production, sales, administrative, overhead, etc., is the first and most crucial step. Costs are then divided into fixed and variable costs.
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The government enforces property rights by? a. requiring property owners to pay property taxes. b. providing police and courts. c. forcing people to own propert
The government enforces property rights by
B) Providing police and courts
Who enforces property rights? The court system enforces contracts efficiently and quickly. The justice system punishes those who unlawfully confiscate private property. There is no corruption or expropriation.The property rights component is an assessment of the ability of individuals to accumulate private property, secured by clear laws that are fully enforced by the state. It measures the degree to which a country’s laws protect private property rights and the degree to which its government enforces those laws.The Constitution protects property rights through the Fifth and Fourteenth Amendments' Due Process Clauses and, more directly, through the Fifth Amendment's Takings Clause: “nor shall private property be taken for public use without just compensation.To learn more about Property rights, refer
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The price of a european tour includes four stopovers to be selected from among 10 cities. in how many different ways can one plan such a tour?
The cost of a European tour includes four stopovers from a list of ten destinations. In ( 10 choose 4 ) or 210 ways can one plan such a tour.
European tour
On the European Tour, total prize money is around half that of the PGA Tour. The disparity for regular tournaments is significantly bigger because this includes the majors and World Golf Championships, which are the most lucrative events on the calendar.
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In order for managers to determine the resources needed to achieve their objectives, a(n)?
A manager and employee agree on precise performance goals, and then a strategy is created to help them be achieved. This approach is known as management by objectives (MBO).
Having an effective control system aids in achieving goals. Planning, organizing, leading, and controlling are the four primary management activities that have replaced and replaced Fayol's functions over time.
In contrast, managers work to apply procedures like organizational structuring and budgeting in order to attain organizational goals. Managers must make judgments to employ resources economically and effectively in order to meet market goals and objectives.
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How many pairs of glasses in a 12-month period will a vision expense insurance plan cover?
1 pair of glasses is what would be covered in a vision expense insurance plan cover.
What is the vision expense insurance plan cover?This is the term that is used to talk about the insurance cover that is able to take care of all that has to do with the visions of a patient. It is the care that has to be given to the patients that would take care of their vision and the routine checks that they need.
This plan is known to also cover for the routine checks that the individual would receive based on the insurance. Hence we can say that 1 pair of glasses is what would be covered in a vision expense insurance plan cover.
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Multinational firms are constantly faced with the decision of choosing between ________ adaptation and ________ integration. local; local local; global global; local global; global
Multinational firms are constantly faced with the decision of choosing between local adaptation and global integration. This is happening because. This happens because multinational firms want to adapt products that have been adapted to local communities but cannot adapt to the global integration that has been built. So the dilemma will always be present to adjust both.
Local adaptation is strategy of applying local requirements and data specific to a particular product or application to suit the language, culture and other local demands. Global integration is a strategy that emphasizes consistency of approach, standardization of processes and cultural commonality across the company's global operations.
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If actual sales are $1,500,000 in the current year, what would be the forecasted sales for lockit in the coming year?
If actual sales are $1,500,000 in the current year, the forecasted sales for the lock it in the coming year.
The objective is to write equation 2 in the form Y = a + bx .
Denote the total cost by Y.
Assume that the fixed cost is given by a and that is equal to $1,000,000
Assume that the variable rate per unit is given by b = 0.00001
The total number of variables is x.
Hence, equation 2 can be written as,
Y = $1,000,000+ 0.00001x
The objective is to write equation 4 in the form Y = a + bx.
Denote the total cost by Y.
Assume that the fixed cost is given by a and that is equal to $600,000
Assume that the variable rate per unit is b.
Let locker net income is x₁,1 forecasted U.S. gross domestic product is x, and the Actual U.S.
gross domestic product is x3
Forecasting is the process of making predictions based on past and current data. Later you can compare these to what is actually happening. For example, a company may estimate revenue for the next year and compare it to actual results. Forecasting is a similar but more general term.
Forecasting is the process of projecting past sales demand into the future. By implementing a forecasting system, you can quickly assess current market trends and sales and make informed operational decisions. You can use forecasts to make planning decisions regarding: A sales forecast is a representation of an expected sales amount. A sales forecast estimates the amount a company plans to sell within a specific period of time (such as a quarter or a year). The best sales forecasts do this with a high degree of accuracy.
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A sales agent, employed by the sponsor's first-tier, downstream, or related entity (fdr), submitted an application for:________
A sales agent, employed by the sponsor's first-tier, downstream, or related entity (FDR), submitted an application for Processing.
A sales representative employed by the sponsor's first class, affiliate or related entity (FDR) filed a request for processing and requested two things:
backdate the registration date by one month, waive all monthly premiums for the beneficiary.First Tier, Downstream, and Related Entities (FDRs) are defined by CMS as any party that enters into a written agreement with a Medicare Advantage organization or Part D plan sponsor to provide administrative or health care-related services. As a healthcare provider, this means that your vendors may be considered FDRs, and as a Medicare Advantage participant, you may be responsible for monitoring and auditing their compliance with CMS standards. Examples of First Tier, Downstream and Related Entities (FDRs): Doctors HOSPITAL Pharmacies Other Providers Claims processing vendors Patient Care Vendors Trust companies Field marketing organization Call Centers.
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What are the effects on the accounting equation when dividends are declared and paid?
a) total assets
b) decrease and total
c) stockholders' equity decreases.
When dividends are declared and paid, retained earnings and cash are both decreased.
Paying dividends reduces cash flow while increasing dividends. A decline in retained earnings will occur when the temporary account of dividends, which will be closed at the end of the time period (such as a year), is closed.
How Do Retained Earnings Work?
After deducting dividend payments, a company's cumulative net earnings or profits are known as retained earnings. The term "retained," which is significant in accounting, captures the fact that the corporation kept such earnings rather than paying them as dividends to shareholders.
For this reason, retained earnings increase when new profits are made and drop when a corporation either makes a profit or pays dividends.
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When tax rates are constant, taxpayers should ______ tax deductions and ______ recognizing taxable income.
When tax rates are constant, taxpayers should accelerate tax deductions and defer recognizing taxable income.
What's taxable income?
Taxable income is the portion of your gross income that is used to determine your tax liability for a specific tax year. generally , it are often defined as adjusted gross income (AGI) less permitted standard or itemized deductions. together with investment income and numerous unearned income streams, taxable income includes wages, salaries, bonuses, and tips.
Your taxable income is that the amount of your gross income that the IRS considers to be taxable.It is made up of both earned and unearned money.Among other sources of income, taxable income comes from wages, ventures, partnerships, and royalties.Because deductions lower adjusted gross income, taxable income is usually lower.
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Record the consumption of supplies during the month if supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand.
If supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand. The appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
Journal entrySince supplies worth the amount of $4,000 were purchased on January 5 and at the end of the month supplies worth the amount of $3,000 were in hand.
Hence,
Journal entry
January 5
Debit Supplies expense $1,000
Credit Supplies $1,000
($4,000-$3,000)
Therefore the appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
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__ are products that have low immediate appeal but may benefit consumers in the long run.
Salutary products are products that have low immediate appeal but may benefit consumers in the long run.
What is Long Run?There is a time frame known as the long run during which all cost and production elements are erratic. In the long run, businesses modify every expense, but in the short term, they can only affect prices by changing their production levels. A company may also anticipate competition in the long run, even though it may currently have a monopoly in the near term.
A long run is a span of time during which a manufacturer or producer can make production-related decisions with some latitude. Depending on the predicted profits, businesses can either increase or decrease their production capacity, or enter or leave a certain industry.
In order to achieve an equilibrium between supply and demand, firms that look at the long term understand that they cannot change output levels.
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Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause?
Morris Lest Inc.'s acquisition of machinery would result in the same level of total assets.
How will the assets fare?The acquisition of machines will boost total assets. For the production of products and services, equipment is a fixed asset that is necessary.
Cash is also an asset and using it to purchase items will reduce it. As a result, the total assets in this instance remained unchanged as one asset decreased and another increased by the same amount.
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Profitability measures such as return on assets (roa) and return on equity (roe) are ___ rates of return.
Profitability measures such as return on assets (roa) and return on equity (roe) are accounting rates of return.
What is the ROA and ROE?Profitability ratios measure the ability of a firm to generate profits from its asset. Examples of profitability ratio are return on equity, return on assets, gross profit margin, return on invested capital and return on capital employed.
Return on equity calculates the efficiency with which a firm generates returns to its shareholders. The higher the return on equity is, the more efficient it is for the firm to generate income for its shareholders. Return on equity is the ratio of net income to total equity.
Return on equity = net income / average total equity
The return on asset is used to determine how much profit a firm can generate from its assets. Return on asset is net income divided by total assets. It is an example of a profitability ratio. The higher the return on assets, the more efficient it is in generating income from its assets.
Return on total assets = Net income / average total assets
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These are medical expenses that are tax-free with an individual's health account, these can include physicals, eye glasses, and/or dentures:_______-
an individual's health account, these can include physicals, eye glasses, and/or dentures: ----- Covered or Eligible Expenses
Eligible medical expenses :
Qualified Medical Expenses are generally the same types of services and products that otherwise could be deducted as medical expenses on your yearly income tax return. Some Eligible Medical Expenses, like doctors' visits, lab tests, and hospital stays, are also Medicare-covered services.
Expenses NOT Eligible for under an HSA :
The hospital insurance benefits tax, withheld from you pay as part of the Social Security tax or paid as part of Social Security self-employment tax. Nursing care for a healthy baby. Travel your doctor told you to take for rest or change.
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