Last year, Mr. Tyker's AGI was $182,800, and his total tax liability was $51,650. This year, his total tax liability is $65,440. Compute the minimum amount of current year tax that Mr. Tyker had to prepay (withholding and estimated payments) to avoid an underpayment penalty.
A. $65,440
B. $56,815
C. $51,650
D. $58,896
Answer: B
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Ting Company started the accounting period with the following beginning balances: Raw Materials Inventory, $21,000; Work in Process Inventory, $45,000; and Finished Goods Inventory, $10,000. During the accounting period, the company purchased $30,000 of raw materials and ended the period with $8,000 in raw material inventory. Direct labor costs for the period were $60,000 and $63,000 of manufacturing overhead costs was allocated to work in process. Ending work in process was $41,000 and ending finished goods was $17,500. Goods were sold during the period for $162,500. The amount of cost of goods manufactured (i.e., amount transferred from work in process to finished goods) would be:
A. $170,000. B. $221,000. C. $166,000. D. $117,500.
Which sentence is punctuated correctly?
A) Learning effective communication skills, therefore, will increase your employment opportunities. B) Learning effective communication skills; therefore, will increase your employment opportunities. C) Learning effective communication skills; therefore will increase your employment opportunities.
In general, a tenant is under a duty to make minor repairs to the leased premises
a. True b. False Indicate whether the statement is true or false