Mark and Anthony are business partners of a franchised bakery. They have reached the end of the current financial year, and they assume that they must pay taxes. Since they have a partnership agreement, what must they submit?

A. Income tax return
B. information return
C. IRS tax claim
D. article of organization
E. policy document

Answers

Answer 1

Answer:

B. Information return

Explanation:

Corporations, trusts, individuals, estates, partnerships, that engage in business or trade and make transactions which are reportable shall report the transactions by filing an information return with the IRS, that indicates the amount a person received as payment within the calendar year on which the information return is based

The details on the information return can be used for ensuring that the tax returns are correctly filed

Payments made by owners of businesses such as compensation for nonemployee and employee requires the filing of an information return

It is important to save a copy of the information returns being filed each year


Related Questions

He said," I don't like you" change in indirect speech​

Answers

Answer:

whether'.

Explanation:

Two profit-maximizing firms - Firm A and Firm B, have identical marginal cost curves and face identical demand. However, Firm A has a higher fixed cost than Firm B. What will be true about the output produced by the two firms?

Answers

Answer:

An apple, potato, and onion all taste the same if you eat them with your nose plugged

Explanation:

Marissa owns a Chichi's Chicken Restaurant franchise and is able to compete in her local market because the franchisor shares the cost of her advertising. This is an example of _____ advertising.

Answers

Answer:

Cooperative.

Explanation:

Franchise is a license consisting of a contractual arrangement between a parent company (franchiser or franchisor) and another (franchisee), that allows individuals or an organization access to its knowledge, processes, trademarks in order to provide a service.

One of the main advantages of a franchise is that, franchisers such as Chichi's Chicken Restaurant do not require additional capital and development expenses to have their businesses being situated in a foreign market or country, as they only required to issue licenses to franchisors who are interested in being part of their business by paying a fee.

Advertisement refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.

In this scenario, Marissa owns a Chichi's Chicken Restaurant franchise and is able to compete in her local market due to the fact that the franchisor shares the cost of her advertising. This is an example of cooperative advertising.

A cooperative advertising can be defined as a cost-effective advertising partnership in which the cost of a locally placed advert is shared between two or more parties such as manufacturer, wholesaler, retailer, franchisor, franchisee, etc.

Answer:

Cooperative

Explanation:

This is an example of Cooperative advertising.

A cooperative is an association of persons (organization) that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations through a jointly-owned and democratically controlled business (enterprise).

Antique Company has notes receivable that have a fair value of $920,000 and a carrying amount of $710,000. Antique decides on December 31, 2020, to use the fair value option for these recently-acquired receivables. The adjusting entry to record this change will include a:

Answers

Answer:

credit to Unrealized Holding Gain or Loss―Income for $210,000.

Explanation:

Given that

The fair value is $920,000

The carrying amount is $710,000

So this represent the account has increased by $210,000

So for recording the adjusting entry we credited the non-realized holding gain or loss for an income of $210,000

And, this income come from

= $920,000 - $710,000

= $210,000

The firm pays above average wages to its employees. Each employee is given at least two weeks of vacation and any time family matters arise and time is needed, flexible arrangements are made to facilitate the employee. Each Thanksgiving, a turkey is provided to each employee, $15 gift certificates are given for the Christmas holiday, and during the summer, the firm pays for each employee and one other individual to attend an expense-paid day at the local amusement park. This firm seems to be a(n) _________ company.

Answers

Answer:

People-oriented

Explanation:

In the people-oriented, the company want to share something or the employees wants to share something and in this the employees are treated a a friends. Here all can be happy, smilling. Moreover, the work can be done in a fun way, everyone love their job and every employee treated by the organization is same

so as per the given situation, it is a people-oriented

Answer:

People-oriented

Explanation:

A people-oriented company is the one that cares most about its employees and their welfare. A people-oriented company is a business approach that takes good care of employees by treating them well and recognizing their role in the firm.

In the given case, the firm that pays more than average salary to its employees, two weeks of vacation, family emergency time, flexibility, gifts on festivals, etc., is a people-oriented company. The firm is taking care of the well-being of its employees in the given scenario.

Therefore, it is a people-oriented company.

Oliveras Company had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in accounts receivable at the beginning of the year was $100,000, and the end of the year it was $150,000. What were the accounts receivable turnover and the average collection period in days? a. 6.4 and 57 days. b. 4.0 and 91.3 days. c. 5.3 and 68.9 days. d. 8.0 and 45.6 days.

Answers

Answer:

a. 6.4 and 57 days

Explanation:

The computation of the accounts receivable turnover and the average collection period in days is shown below;

The account receivable turnover is

= $800,000 ÷ ($100,000 + $150,000) ÷ 2

= 6.4 times

And, the average collection period is

= 365 days ÷ 6.4 times

= 57 days

Therefore the a option is correct

Using the rule of 72, how long would it take for your $1,000 investment to double at 5%?

Answers

Answer:

14 years

Explanation:

Given the following data;

ARR = 5%

Principal = $1000

From the rule of 72;

Rule of 72 can be defined as a metric used to determine the time it will take to double an investment based on its growth rate. Also, it can be used to determine the economic growth by measuring the Gross Domestic Products (GDP).

Mathematically, it is given by the formula;

[tex] Number \; of \; years \; to \; double = \frac {72}{ARR} [/tex]

Where;

ARR is the annual rate of return in percent.

Substituting the values into the formula, we have;

[tex] Number \; of \; years \; to \; double = \frac {72}{5} [/tex]

[tex] Number \; of \; years \; to \; double = 14.4 [/tex]

Therefore, the number of years to double = 14.4 ≈ 14 years

Someone who is extremely dissatisfied with the direction of their current employer and has their own great ideas, an independent streak, and a great work ethic might decide to _______.

Answers

Group of answer choices.

a. Tough it out and try to adjust to their workplace

b. Quit their jobs and start their own business

c. sabotage their bosses in order to get new leadership d. Climb the corporate ladder in order to implement their ideas

Answer:

b. Quit their jobs and start their own business

Explanation:

An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.

Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).

Hence, while an employer may be the owner of a business firm or company, an employee is a subordinate employed to provide unwavering services to the employer while also, being professional and diligent at all times.

Generally, an employee who is extremely dissatisfied with the direction of their current employer and has his or her own great ideas, aspirations, an independent streak (willingness to work for oneself rather than serve others), and a great work ethic might decide to quit their jobs and start their own business such as an entrepreneur.

An entrepreneur refers to an individual who sees a need or discovers a problem in a society and innovatively proffers a solution using brilliant ideas or entrepreneurial thinking.

The following are four characteristics of an entrepreneur;

1. Innovative: it can be defined as a quality possessed by an individual or group of people such as an entrepreneur and typically involves the process of improving on an existing product or ideas.

2. Passionate: believing in a course and one's ability to achieve much more at a business.

3. Risk-Taker: he or she is confident enough to venture into risky businesses with the hope of an expected success.

4. Self-Confident: he or she is bold and believes in his or her abilities to excel.

When a person brings an item to a pawnshop to obtain cash, the transaction is considered:

Answers

Answer:

Collatral loan

Explanation:

The item acts as a collatral to obtain the cash loan.

One reason annual overhead application rates are used is Select one: a. to minimize the overhead cost assigned to products. b. to maximize the overhead cost assigned to products. c. because of seasonal variability of overhead costs. d. to help budget overhead costs.

Answers

Answer:

Answer is C

Explanation:

c. because of seasonal variability of overhead costs.

List the inventions of charles Barbbage.​

Answers

Answer:

The invention of Charles Babbage are

Analytical Engine

and

2. Difference Engine

hope it is helpful to you ☺️☺️

The ________________ effect holds that as the price level increases, the buying power of wealth that people have stored up in bank accounts and cash will diminish, eaten away to some extent by inflation.

Answers

Answer:

The Wealth effect...........

The [tex]\sf\purple{wealth}[/tex] effect holds that as the price level increases, the buying power of wealth that people have stored up in bank accounts and cash will diminish, eaten away to some extent by inflation.

[tex]\circ \: \: { \underline{ \boxed{ \sf{ \color{green}{Happy\:learning.}}}}}∘[/tex]

Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. Issued common stock for cash, $5,000. Provided services to customers on account, $2,000. Provided services to customers in exchange for cash, $900. Purchased equipment and paid cash, $4,300. Paid April rent, $800. Paid employees' salaries for April, $700. What was Sallisaw's retained earnings balance at the end of April

Answers

Answer:

$11,400

Explanation:

Calculation to determine What was Sallisaw's retained earnings balance at the end of April

First step is to calculate the Net income for the month of April

April Net income=$2,000+$900-$800-$700

April Net income=$1,400

Now let calculate the Retained earnings at the end of April

April Retained earnings=$10,000+$1,400=$11,400

April Retained earnings= $11,400

Therefore What was Sallisaw's retained earnings balance at the end of April is $11,400

Economic growth takes place when a country produces a steady number of automobiles. has a high unemployment rate. measures its gross domestic product (GDP). produces more goods and services.

Answers

Answer:

D. Produces more goods and services

Economic growth takes place when a country produces more goods and services.

What is economic growth?

Economic growth refers to a rise in the total amount of goods and services produced in a country. It is how much a country is producing, including the quality of the production of both goods and services.

Once a country begin to produce more goods and sells the goods produced, then the country will be making profit thereby leading to economy growth.

Hence, economic growth takes place when a country produces more goods and services.

Learn more about economic growth there : https://brainly.com/question/1690575

Which of the following is an example of an ultimate consumer:
a. A teenager buying her/his first car
b. A farmer buying seed for crops that will be sold at market
C. A manager buying office supplies
d. A restaurant owner buying a new oven for the restaurant's kitchen

Answers

The example of an ultimate consumer is that when the person purchases his or her first car.

The following information related to the ultimate consumer is as follows:

It is the person or the group where the product is actually used or consumed. It is not similar to the purchaser. In this, the selling activity does not take place.

Therefore, all other options are incorrect.

Hence, we can conclude that the example of an ultimate consumer is that when the person purchases his or her first car.

Learn more about the consumer here: brainly.com/question/15869639

A dealer persuades a customer to buy a new car by reducing the price to well below that of his competitors. Once the customer has agreed to buy the car, the terms of the sale are shifted by lowering the value of the trade-in and requiring the purchase of expensive extra equipment. Now the car costs well above the current market rate. This is an example of the __________ procedure. Group of answer choices foot-in-the-door lowball bait-and-switch primacy

Answers

Answer:

low ball

Explanation:

From the question, we are informed about A dealer who persuades a customer to buy a new car by reducing the price to well below that of his competitors. Once the customer has agreed to buy the car, the terms of the sale are shifted by lowering the value of the trade-in and requiring the purchase of expensive extra equipment. Now the car costs well above the current market rate. In this case, This is an example of the low ball procedure. The low-balling procedure can be regarded as lpersuasion tactic whereby the seller offer will give an initial offer of goods/ service at a lower price than the expected price, so that the buyer can commit, after the commitment from buyer, the price will be suddenly increased. This technique is famous among salesmen as well as advertisers.

The inflation tax is: cost of living adjustments, or COLAs. cost of living adjustments, or COLAs. the decreases in the real value of money held by the public caused by inflation. the decreases in the real value of money held by the public caused by inflation. the result of the indexing wages to inflation. the result of the indexing wages to inflation. the increase in income taxes caused by inflation. the increase in income taxes caused by inflation. the increase in the real value of money held by the public caused by inflation.

Answers

Answer:

the decreases in the real value of money held by the public caused by inflation

Explanation:

The inflation tax refers to the penalty on the cash when the inflation rise is increased. In the case when the inflation increase so the cash would become less valuable

So as per the given situation when there is a reduction in the real value of the money so it would be held by the public that can result by the inflation

Therefore the same is considered

what is watermill?write it advantages

Answers

A watermill or water mill is a mill that uses hydropower. It is a structure that uses a water wheel or water turbine to drive a mechanical process such as milling, rolling, or hammering.

Explanation:

Water mill is a mill which runs through hydro or water .

it's advantage

it can be used as agricultural produce cutting up material such pulp timber etc

stay safe healthy and happy..

Suppose that monopolistically competitive firms in a certain market are earning positive profits. In the transition from this initial situation to a long-run equilibrium, Group of answer choices the number of firms in the market decreases. each existing firm experiences a decrease in demand for its product. each existing firm experiences a rightward shift of its marginal revenue curve. each existing firm experiences an upward shift in its average total cost curve.

Answers

Answer:

The correct answer is the last option: Each existing firm experiences an upward shift in its average total cost curve.

Explanation:

To begin with, in the microeconomics theory the "monopolisticaly competitive" market refers to that one whose main characteristics are shared with the perfect competititve market but with the big difference of the differentiation of the product and for that reason every company in it fights for the publicity and inversions in that matter are a big deal. Therefore that at short run everybody wins, so new companies entry the market and when that happens the demand goes down for everybody due to the more supply now available and with that, the companies have to put more money into publicity in order to atract the consumers and that will affect that average total cost curve that will be represented with an upward shift in the graphic.  

Bankruptcy is the legal process of reducing or eliminating an amount owed.
O True
O False

Answers

The answer would be trueee
It’s true!!! Have a nice day٩( 'ω' )و

Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his magic tricks. Lately he has been having some trouble getting the DVDs produced in a timely manner. Of the five primary activities in the value chain, this problem is most likely to occur in ________.

Answers

Answer:

inbound logistics.

Explanation:

Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

The fundamental principle of supply chain management is the complete collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing producer), a wholesaler, and a retailer who typically sells the products to the customers or consumers.

Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.

In this scenario, Dave creates and sells DVDs of his magic tricks.

Lately, Dave has been having some trouble getting his DVDs produced in a timely manner. Thus, of the five (5) primary activities in the value chain, this problem of not producing goods (DVDs) as at when needed by the viewers (end users) is most likely to occur in inbound logistics.

An inbound logistics can be defined as a supply process which relates with receiving, storing or warehousing of raw materials and the distribution of inventory internally.

Norbury Corporation's net income last year was $25,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable $ 13,500 Inventory $ (3,600) Prepaid expenses $ 9,000 Accumulated depreciation $ 24,000 Liability Accounts: Accounts payable $ 13,000 Accrued liabilities $ (8,100) Income taxes payable $ 2,700 Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:

Answers

Answer:

$37,700

Explanation:

Cashflow from Operating Activities

Net Income                                                                     $25,000

Adjustments to non - cash flow items :

Add back Depreciation charge                                     $24,000

Adjustments to changes in working capital items :

Increase in Accounts receivable                                  ($13,500)

Decrease in Inventory                                                     $3,600

Increase in Prepaid expenses                                       ($9,000)

Increase in Accounts payable                                       $13,000

Decrease in Accrued liabilities                                       ($8,100)

Increase in  Income taxes payable                                 $2,700

Net cash provided by operating activities                    $37,700

thus,

the net cash provided by operating activities under the indirect method on the statement of cash flows would be: $37,700

Bill is a retired military officer suffering from complications caused by Agent Orange exposure during his military service. He incurs $54, 510 in medical expenses during hospitalization at the local Veterans Administration Hospital. The private health insurance he now owns will likely pay:

Answers

Answer: nothing

Explanation:

Military officers are usually entitled to group life insurance which is covered by a comprehensive healthcare plan.

In this case, since Bill is a retired military officer that's suffering from complications that was caused by Agent Orange exposure during his military service, then the private insurance he owns will pay nothing because the complications were gotten during his military work me should be taken care of by the government.

Under MSRB rules, yield to worst means that: A all municipal bonds quoted on a yield basis must be priced to the near-term in whole call date B municipal par bonds quoted on a yield basis must be priced to the near-term in whole call date C municipal discount bonds quoted on a yield basis must be priced to the near-term in whole call date D municipal premium bonds quoted on a yield basis must be priced to the near-term

Answers

Answer: D. Municipal premium bonds quoted on a yield basis must be priced to the near-term in whole call date

Explanation:

Yield to worst refers to the lowest possible yield which can be gotten on a bond which operates fully within the terms of the contract and doesn't default.

Under MSRB rules, yield to worst means the Municipal premium bonds quoted on a yield basis must be priced to the near-term in whole call date.

Therefore, the correct option is D.

Three highly similar and competitive income-producing properties within two blocks of the subject property have sold this month. All three offer essentially the same amenities and services as the subject property. The sale prices and estimated first-year NOI for each of the comparable properties are as follows: ComparableSale PriceNOI1 A$500,000$55,000 B$420,000$50,400 C$475,000$53,400 Using the information provided, calculate the overall capitalization rate by direct market extraction assuming each property is equally comparable to the subject.

Answers

Answer:

11.4%

Explanation:

Capitalization rate of A = (NOI / Sale price) × 100

= (55,000 / 500,000) × 100

= 11.0%

Capitalization rate of B = (NOI / Sale price) × 100

= (50,400 / 420,000) × 100

= 12.0%

Capitalization rate of C = (NOI / Sale price) × 100

= (53,400 / 475,000) × 100

= 11.0%

Overall Capitalization Rate

= 11.0 + 12.0 + 11.0 / 3

= 11.4%

Learning Task 7: Find the function and create a formula that will calculate the total number of fruits in the workbook below. Write the formula on cell B7.

Answers

Answer:

=SUM(B2:B6)

Explanation:

Given

See attachment for workbook

Required

The function that calculates the total number of fruits

The number of fruit for each fruit is represented by cell B2 through B6.

So, we need to create a function that adds up the values in B2 to B6. To do this, we make use of the SUM function.

So, enter the following formula in cell B7

=SUM(B2:B6)

The above formula will add B2 to B6

A possible warning signal that you may be headed for financial problems with credit is that you
a.
pay only the minimum required.
c.
you only buy sale items.
b.
only buy what you can afford.
d.
all of the above.

Answers

Answer:

I can't provide a definite answer (apologies), but I can definitely say that the answer is narrowed down to where it's either A or D.

Explanation:

Answer:

A- pay only the minimum required.

Explanation:

Brant promised to repair Carolyn's car on Thursday. After picking up the necessary part at a junkyard, he discovered he could not do the job after all and that the junkyard would not buy back the part. Carolyn does not know about these developments. However, she thinks Brant will be finished with her car sometime today. What should Brant do

Answers

i mean... tell carolyn asap and explain, then try to sell the part on ebay or something

can someone help me i have no how to do this is tyyyy!!

Answers

Answer:

im bad at math sry

Explanation:

i have an f in math lolll

Identify the business environment associated with each of the following factors.
a. Employees
b. Tools and equipment
c. Inflation
d. Political factors
e. Technology applied
f. Cultural factors
g. Invested funds
h. Entrepreneur
i. Management
j. Geographical factors
k. Business structure
l. Economic recessions

Answers

Answer:

There are five elements of the Business Environment. They are:

Economical EnvironmentSocial EnvironmentPolitical Environment Legal Environment Technological Environment

Each of the 12 factors listed in the question must belong to one category of environment. They are classified as follows:

Explanation:

Economic Environment

InflationEconomic RecessionsInvestment Funds

Social Environment

EmployeesCultural Factors

Political Environment

ManagementPolitical FactorsBusiness StructureEntrepreneurGeographical factors

Legal Environment

EmployeesBusiness Structure

Technological Factors

Tools and EquipmentTechnology applied

Cheers