Zenith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
| March 1. | Paid rent for the month, $3,700. |
| 3. | Paid advertising expense, $2,360. |
| 5. | Paid cash for supplies, $1,010. |
| 6. | Purchased office equipment on account, $15,500. |
| 10. | Received cash from customers on account, $5,060. |
| 15. | Paid creditor on account, $1,480. |
| 27. | Paid cash for miscellaneous expenses, $640. |
| 30. | Paid telephone bill for the month, $240. |
| 31. | Fees earned and billed to customers for the month, $33,700. |
| 31. | Paid electricity bill for the month, $400. |
| 31. | Paid dividends, $2,600. |
Journalize the selected transactions for March 2018.
In: Accounting
In: Statistics and Probability
Need answer ASAP!!!!
Mr. and Mrs. Dint filed their 2015 Form 1040 on March 10, 2017. The couple earned $48,000 from their regular salaried jobs and correctly reported this amount on their Form 1040.
However, during 2015, Mr. and Mrs. Dint also operated an illegal cigarette smuggling business. This side business earned them an additional $18,000. The couple did not report this income on their 1040.
Although their illegal operation was a cash-only business, the Dint's are worried that the IRS might find out about this extra income and charge them penalties and interest for not reporting the income.
What is the latest date that the IRS can assess the Dint's any additional 2015 tax?
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April 15, 2021 |
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March 10, 2018 |
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April 15, 2018 |
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there is no limit to the statute of limitations on the Dint's 2015 tax return |
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