Determine Mr

question 106

Essay

Determine Mr.Smith's 2019 filing status in each of the following independent cases.
a.Mr.Smith and Mrs.Smith were legally divorced on December 1.Mr.Smith has not remarried and has no dependent children.
b.Mr.Smith and the first Mrs.Smith were legally divorced on February 10.Mr.Smith remarried the second Mrs.Smith on December 5.He has no dependent children.
c.Mrs.Smith dies on June 22.Mr.Smith has not remarried and has no dependent children.
d.Mrs.Smith died on November 1,2017.Mr.Smith has not remarried and maintains a home for one dependent child.
e.Mrs.Smith died on April 3,2018.Mr.Smith has not remarried and has no dependent children.
f.Mr.and Mrs.Smith were legally divorced on September 10,2016.Mr.Smith has not remarried and maintains a home for his two dependent children.

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Definitions:

Payables Turnover Rate

A liquidity metric that measures how quickly a company pays off its suppliers by dividing total purchases by average accounts payable.

Accounts Payable Balance

The amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.

Sales

The exchange of goods or services for money, representing the primary revenue source for most businesses.

COGS

Stands for Cost of Goods Sold; it's the direct cost attributable to the production of the goods sold by a company, including both raw materials and labor costs.