Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS sent her a penalty charge of 6.40% simple interest on the unpaid taxes of $1,400. Calculate the penalty. (Remember that the government uses exact interest.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
How can an increase in prices affect consumption?
Answers (2)
Last month when Holiday Creations, Inc., sold 37,000 units, total sales were $315,000, total variable expenses were $239,400, and fixed expenses were $39,000. Required: 1. What is the company's contribution margin (CM) ratio? 2.
Answers (1)
A population of 478 rats has been undergoing linear growth over a five-year period. if the average growth rate was 1.4 rats per year, what was the approximate size of the initial population
Answers (1)
The imitation based account's primary weakness is that
Answers (1)
On January 1, 2015, Jon Sports has a bond payable of $200,000. During 2015, it pays off $20,000 of the outstanding bond principal and issues a new $70,000 bond. There are no other transactions related to the bond payable account.
Answers (1)
New Questions in Business
Match the business with the appropriate cost system (s) for that business using the number of the cost system where 1 = job order costing, 2 = process costing, and 3 = activity-based costing. a. Ketcher, Tryer, and Friar, attorneys-at-law b.
Answers (1)
Solemon Company has total fixed cost of $15,000, variable cost per unit of $6, and a price of $8. If Solemon wants to earn a targeted profit of $3,600, how many units must be sold?
Answers (1)
Using the following information, what is the amount of net income? Purchases $ 33,189 Selling expenses $ 758 Merchandise inventory, September 1 7,436 Merchandise inventory, September 30 8,978 Administrative expenses 760 Sales 51,684 Rent revenue 832
Answers (1)
You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. O True O False
Answers (1)
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 17,000 $ 12,000 Finished goods $ 46,000 $ 50,000 Additional information: Direct materials $ 57,000 Direct labor cost $ 87,000 Manufacturing
Answers (1)