Betty Smith is the owner of Accurate Tax Service. For the year ending April 30, 2019, the following information is available for this service business. At the beginning of this accounting period, the balance in the Betty Smith, Capital account was $31,800. Following is a summary of activities during this accounting period: Betty Smith, capital withdrawn: $17,100 Revenue from income tax preparation: $71,400 Revenue from monthly clients: $45,600 Salaries expense: $11,000 Advertising expense: $630 Rent expense: $7,000 Automobile expense: $1,100 Office supplies expense: $7,200.

Explain Reporting the Funded Status of the Pension Plan.

Year Quarter Revenue 2005 Qtr1 5,206   Qtr2 6,310   Qtr3 6,037   Qtr4 5,551 2006 Qtr1 5,226   Qtr2 6,476   Qtr3 6,454   Qtr4 5,932 2007 Qtr1 6,103   Qtr2 7,733   Qtr3 7,690   Qtr4 7,331 2008 Qtr1 7,379   Qtr2 9,046   Qtr3 8,393   Qtr4 7,126 2009 Qtr1 7,169   Qtr2 8,267   Qtr3 8,044   Qtr4 7,510 2010 Qtr1 7,525   Qtr2 8,674   Qtr3 8,426   Qtr4 10,494 State the model found when performing a regression using seasonal binaries. (A negative value should be indicated by a minus sign. Round your answers to 4 decimal places.) yt =  +  t +  Q1 +  Q2 +  Q3 Use the regression equation to make a prediction for each quarter in 2011. (Enter your answers in millions rounded to 3 decimal places.)  Quarter Predicted Q1   Q2   Q3   Q4

What would Jeremy's taxable income be if he were to choose a standard deduction of $5700 instead of itemizing his deductions? Would it be higher or lower?

Determine the annual insurance premiums for a policy insuring a male age 40 , who wants to purchase a whole life policy with a face value of $50,500

Year Quarter Revenue 2005 Qtr1 5,196   Qtr2 6,300   Qtr3 6,027   Qtr4 5,541 2006 Qtr1 5,109   Qtr2 6,455   Qtr3 6,402   Qtr4 5,895 2007 Qtr1 6,065   Qtr2 7,695   Qtr3 7,652   Qtr4 7,293 2008 Qtr1 7,360   Qtr2 9,035   Qtr3 8,299   Qtr4 7,015 2009 Qtr1 7,130   Qtr2 8,212   Qtr3 8,015   Qtr4 7,468 2010 Qtr1 7,700   Qtr2 8,655   Qtr3 8,407   Qtr4 10,475 Quarter 2005 2006 2007 2008 2009 2010 Qtr1 5,196 5,109 6,065 7,360 7,130 7,700 Qtr2 6,300 6,455 7,695 9,035 8,212 8,655 Qtr3 6,027 6,402 7,652 8,299 8,015 8,407 Qtr4 5,541 5,895 7,293 7,015 7,468 10,475 (b) State the model found when performing a regression using seasonal binaries. (A negative value should be indicated by a minus sign. Round your answers to 4 decimal places.) yt =  +  t +  Q1 +  Q2 +  Q3 (c) Use the regression equation to make a prediction for each quarter in 2011. (Enter your answers in millions rounded to 3 decimal places.)  Quarter Predicted Q1   Q2…

Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $305,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter?