SOUND EFFECTS INC CHANGED ITS TAX YEAR FROM A CALENDAR TO A FISCAL YEAR ENDING...
60.1K
Verified Solution
Link Copied!
Question
Accounting
SOUND EFFECTS INC CHANGED ITS TAX YEAR FROM A CALENDAR TO A FISCAL YEAR ENDING FEB.28,2019. FOR THE SHORT YEAR TAXABLE INCOME OF 80,000. TAXABLE INCOME FOR THE 12 MONTH PERIOD IS 200,000. SOUND EFFECTS FILED A TAX RETURN FOR THE SHORT PERIOD AND PAID TAX BASED ON THE GENERAL METHOD. SOUND EFFECTS IS CONSIDERING FILING AN ELECTION UNDER THE EXCEPTION RULE AND REQUESTING A REFUND OF ANY OVERPAYMENT. HOW MUCH IS SOUND EFFECTS OVERPAYMENT IF IT MAKES THE ELECTION UNDER THE EXCEPTION RULE FOR THE SHORT YEAR.
0
2700
9050
24500
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.