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What else can I help you with?
Do you include purchases return in profit and loss account?
Yes, purchases returns should be included in the profit and loss account as they reduce the total cost of goods sold. When goods are returned, the value of those returns is deducted from the total purchases, thereby affecting the gross profit calculation. This adjustment helps provide a more accurate representation of the company's profitability during the accounting period.
Does cost segregation require amending past tax returns?
No. Section 2.01 of the Appendix of Revenue Procedure 2002-9 allows an automatic change of accounting method without amending past returns. Your accountant will need to complete a form 3115 showing the calculation of the depreciation adjustment following the study.
Tax preparer did not include all income for tax returns?
First have him explain why - maybe it wasn't to be included...if he made an error, which is still YOUR primary responsibility in all cases, have him correct it, whihc he should do for free.
What is included in the IRS Form 3800?
IRS form 3800 is used to claim any of the general business credits. The IRS began accepting tax returns for the vast majority of taxpayers on January 30.
What is a sales returns day book?
Sales returns day book only record the sales returns in any day and no other entry is recorded in it.
Is the purchases returns included in the calculation of cost of sales?
Yes purchase returns are deducted from purchases to calculate the net amount of purchases and that's why included in cost of sales.
Is used in the calculation that returns the next random number in the series?
A pseudo-random number generator.
Can payments to inmates be included on tax returns as gifts?
yes
Investment to achieve high returns quickly?
venture capital
What source does Capital Markets provide returns to shareholders?
dividends
What does ROACE stand for?
ROACE stands for Returns on Average Capital Employed
The market allocates capital to companies based on?
Risk, efficiency and expected returns.
What are the returns of the various factors of production?
Land - Rent Labour - Wages Capital - Interest
Why is the production possibility curve bowed out from the origin of the curve?
Diminishing Marginal returns to capital and labor.
What does a decrease in Return On Capital Employed imply?
Normally expressed in percentages, Return on Capital Employed measures the returns particular business gets from capital employed which is calculated based on the company's equity.
How do you calculate actual sales?
Forumula for calculation of actual saees: Actual sales = (number of units sold * Sales price ) - sales returns and discounts
Will judgments against you affect your tax returns?
No, they don't effect your tax calculation if that's what you mean. Depending on who has the judgments, tax refunds may be able to be taken.
