Harmon, Inc

question 94

Multiple Choice

Harmon, Inc. was incorporated and began business on January 1, 2014. Its tax liability for 2014 was $36,000. Its tax liability for 2015 was $50,000. Which of the following is a correct statement concerning the payment of estimated taxes for 2015?

• A) Harmon must pay $12,500 on the15^th day of April, June, September, and December.
• B) Harmon must pay $9,000 on the 15^th day of April, June, September and December. The $14,000 balance is payable by March 15, 2016.
• C) Harmon may pay the $50,000 tax no later than March 15, 2016.
• D) None of the above statements is correct.

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Definitions:

Initial Understanding

The foundational or basic comprehension of a concept, phenomenon, or situation before further, deeper learning takes place.

Dependent Variables

Variables in an experiment that are expected to change as a result of changes made to the independent variables.

Frequency Polygon

A graphical representation of the distribution of numerical data. It is a line graph of class frequencies plotted against mid-point values.

Normal Distribution

A bell-shaped distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence.