Question
1. What is the due date for the deposit of these taxes? April 15 March 15 March 31 April 15 2. Assume that no deposit
1. What is the due date for the deposit of these taxes?
April 15
- March 15
- March 31
- April 15
2. Assume that no deposit was made until May 2. Compute the following penalties. Assume a 365-day year in your computations. Round your answers to the nearest cent.
| a. | Penalty for failure to make timely deposit. | $ |
| b. | Penalty for failure to fully pay tax. | $ |
| c. | Interest on taxes due and unpaid. | $ |
| d. | Total penalty imposed. | $ |
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Advanced Financial Accounting
Authors: Richard Baker, Valdean Lembke, Thomas King, Cynthia Jeffrey
8th Edition
73526916, 978-0073526911
