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Janine Stubos estimates that she will owe $20 thousand in tax in 2021. She owed $14 thousand in tax in 2020 and $18 thousand in tax in 2019. Assuming she makes all her installment payments using the no-calc method and that her estimated tax owing for 2021 is correct, how much will she need to pay on April 30th, 2022? a. $6 thousand O b. $4 thousand O c. $2 thousand O d. $Nil

Janine Stubos estimates that she will owe $20 thousand in tax in 2021. She owed $14 thousand in tax in 2020 and $18 thousand in tax in 2019. Assuming she makes all her installment payments using the no-calc method and that her estimated tax owing for 2021 is correct, how much will she need to pay on April 30th, 2022? a. $6 thousand O b. $4 thousand O c. $2 thousand O d. $Nil

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Janine Stubos estimates that she will owe $20 thousand in tax in 2021. She owed $14 thousand in tax in 2020 and $18 thousand in tax in 2019. Assuming she makes all her installment payments using the no-calc method and that her estimated tax owing for 2021 is correct, how much will she need to pay on April 30th, 2022? a. $6 thousand O b. $4 thousand O c. $2 thousand O d. $Nil
Transcribed Image Text:Janine Stubos estimates that she will owe $20 thousand in tax in 2021. She owed $14 thousand in tax in 2020 and $18 thousand in tax in 2019. Assuming she makes all her installment payments using the no-calc method and that her estimated tax owing for 2021 is correct, how much will she need to pay on April 30th, 2022? a. $6 thousand O b. $4 thousand O c. $2 thousand O d. $Nil
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