Answer:
Not filing your return will cost you an additional 5 percent of your unpaid tax bill each month.
Not paying what you owe will add an extra 0.5 percent each month to your overall IRS debt.
If you did not file on time and did not pay any tax you owed, you are subject to both penalties. However, the IRS actually gives you a bit of a break. The maximum penalty that you’ll pay for both in any given month is 5 percent, rather than 5.5 percent.
If you don’t file or pay for five months, the failure-to-file penalty will max out at 25 percent of your unpaid taxes. But the 0.5 percent failure-to-pay penalty will continue to accrue, up to another 25 percent of what you owe, until the tax is paid.
Interest also is charged on the overdue amount
If your due a refund then the only way to get it is to file
Explanation:
Answer:
Category killer
Explanation:
Since in the question it is given that the Outdoor Adventures, Inc. operates a chain of very large stores of sporting goods at very competitive prices. Due to opening its first store, there is a drop in sales for small sporting good store because of category killer as it refers a store which keeps a variety of goods in its specialized field due to which it gains a competitive advantage.
<span>Maintaining an active lifestyle requires small but manageable changes in daily life. First of all, awareness is key. How many steps do you normally take? What do your work life and home life look like in terms of movement? Once someone knows what a typical day looks like, they can see where they are weak. Small changes can then be made, such as parking the car further from the store or taking walking breaks when sitting at the office desk for hours each day. Finally, an active lifestyle can be social. Being with friends does not have to revolve around food and drink; rather, friends can be enjoyed while playing leisurely sports (i.e., racquetball, tennis) or walking while conversing.</span>
Answer:
Accounts receivable to be reported at the end of 2019 = $1090000
Explanation:
Assuming that all sales are made on credit.
The opening accounts receivable were = $ 1200000
We add the credit sales made during the year to the opening balance of accounts receivable to reach at total accounts receivable.
Total accounts receivable = 1200000 + 6250000 = 7450000
We deduct the amount received from customers against these sales to reach at the closing balance for accounts receivables.
Closing balance Accounts receivables 2019 = 7450000 - 6360000 = $1090000
Question Completion:
Requirement. Identity two types of short-term finance Akram could use when the farm income is low
Answer:
Akram's Farm
Akram's farm can make good use of the following short-term financing sources:
1. Akram's farm can use Accounts Payable to provide short-term trade finance when the farm buys farm inputs, equipment, and other supplies on credit. The farm's Accounts Payable can provide interest-free trade loans by allowing the farm to take longer time to settle the suppliers. But, the farm should not miss out on cash discounts - an important source of trade finance.
2. Akram's farm can generate finances by ensuring early collections of the Accounts Receivable. Akram's farm can also go ahead and borrow on the accounts receivable through short-term bank loans guaranteed on the accounts. The farm can also factor the accounts receivable by selling them to factoring and finance houses for less.
Explanation:
Akram's farm is still a small farm that is not yet formed as a company. The immediate concentration is growing the entity and starting the processes for changing its corporate status so that it can take advantage of the sources of finance available to companies.
