Laramie distribution markets CDs of numerous performing artists. At the beginning of March , Laramie had in beginning inventory 2,500 CDs with a unit cost of $7. During March Laramie made the following purchase of CDs

March 5 2,000 @ $8
March 13 5,500 @ $9
March 21 4,000 @ $10
March 26 2,000 @ $11

During March 13,000 units were sold, Laramie use a periodic inventory system.

What I have sofar is the following, but I don't know how to continue, please help

March 1 Beginning inventory 2500 7 17,500
5 Purchase 2000 8 16,000
13 Purchase 5500 9 49,500
21 Purchase 4000 10 40,000
26 Purchase 2000 11 22,000
Total 16000 145,000
FIFO
Sold 13,000 units
That takes out the original 2,500 units in starting inventory
That takes out the 2,000 units purchased on March 5
That takes out the 5,500 units purchased on March 13
That takes out 3,000 of the 4,000 units purchased on March 21

Ending inventory is (1,000 @ $10) (2,000 @ $11) = $32,000
——————————–
LIFO
Sold 13,000 units
That takes out the 2,000 units purchased on March 26
That takes out the 4,000 units purchased on March 21
That takes out the 5,500 units purchased on March 13
That takes out 1,500 of the 2,000 units purchased on March 5

Ending inventory is (500 @ $8) (2,500 @ $7) = $21,500

Hi everyone. I'm a single parent to 2 young children, 2yrs old and 4 months old. I'm desperate to get back to work, but everytime i go to them interview things at the job centre to work out how much better off i am it doesnt work out im better off!!! I'm just wanting some advice really, i'm in a private rented house, 3 bedroom, 575 PCM, i get 460 every 4 weeks paid for by housing benefit, and i get Child benefit 33 PW, Child tax credits 107 PW, and income support £50 PW. Child care costs are costing a fortune ive noticed, and think they're about 150PW PLUS? I'm also wanting to go back full time, getting approx £6PH. Any questions you need to know pls say and i will add more info asap. Thanks, appreciate your help xx
If I was in your position I would go back to college instead. Think long-term.

I am a young person with no knowledge of real estate. I started becoming very interested in real estate investing. I have the potential with my job to save up 40,000 in 6 months in the summer to invest. I have been reading books like robert g allen's "creating wealth", william nickerson's "how i turned 1,000 into five million in real estate", and books of that sort. I have heard mixed messages of such ideas, but i am very motivated to succeed in real estate and am not so much focused on a certain author or mentor, but the ideas the teach. Has anyone had success in such teachings or in real estate investing and have any advice for me. where should i start?
welcome to the oddest world of business there is; and you may know that the US and
the world of real estate are at odds with each other–for numerous reasons.

I have read all those books and more. I was just an investor then and I rose to
broker [age] 10 yrs later.

I will tutor you for free.

Your military parent has a state of residence even though he or she is overseas. All US military have a state of residence to which they have to file a state tax return, unless the state doesn't have a state income tax. Doesn't matter when the last time they were there.

If you have a car registered in one of the states, you will have to pay any necessary taxes required by that state. You can't claim a military exemption in the few states that have them because you aren't in the military.
So, where to you hang your hat at night?

If you are a US citizen or resident and are within the physical boundaries of the USA, you are a resident of a state, whether you like it or not.

Even if you are in a mobile career such as a trucker and spend most of your time on the road, you do have a home that you return to periodically and that is your legal residence, even if it's just a UPS Store mail drop to pick up your mail.

The fact that you own a car that's registered and titled in a specific state establishes a tie to that state and not only do you have to pay the personal property taxes on the car in that state, you have to pay that state's income taxes as well.
Dear P: Is your name Houdini?

If you own a car you must drive and if you drive you must have a drivers license. Those two facts are against you in being homeless (state less). Do you have any money?(own a car) Any bank accounts? Seems as if you have access to a computer, where?

Just as I am not buying the no home state bit. The IRS and state dept of revenue won't buy it either. Federal taxes are a given, but the state taxes could be avoided if you move to a state without an income tax–oh that's right you don't live in a state.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent
of course you will pay the tax and registration in the state you are registering the car
and there is no such thing as not a resident of any state, unless you are working overseas
your 'tax home' is where you work, and if you are an itinerant worker, where you work from, get your instructions, and get your pay from is your 'tax home', especially if you have no permanent residence
Let's put it this way, if you do not currently have a home (and say, live in hotels), the IRS is going to assign you a tax home based on your income *or* the last state you were domiciled in.

You cannot be stateless.

Here are my questions for you to answer after reading my situation:

1) Should I amend both 2007 and 2008 taxes?
2) Should I only amend my 2008 taxes?

Before I get into my story, I know people think you don't have to report your Roth contributions on your taxes & I have heard that as well, BUT I was told by my bank that when I go to retrieve the funds many years from now, the government will not know how much I have contributed, so they ADVISED ME to show my Roth contributions on my taxes and starting in 2009 I know to do this.

I did not know you should do this until this year and the people that do my taxes never mentioned it, so TWO tax filings have passed with no Roth contributions. I put $4000 in a Roth at the beginning of 2008 for 2007. The bank messed up and put it towards my 2008 contribution. I went to make my 2008 contribution early this year & found out about the mess up, so I contributed another $5000 to 2009 and $1000 to max out the 2008 year. I found paperwork this week and took it to the bank to prove I had designated $4000 to go to 2007. The bank is fixing their error at this time. They said they would send a letter to the IRS that I contributed $4000 for 2007. With the IRS getting this letter, do I need to amend my 2007 taxes or just my 2008 taxes or should I do both?

Any other thoughts?
Dear S: Never go to a bank for tax advice!!

Good move on the Roth deal. Roth contributions are after tax and come out tax free. There are some minor tweaks but just leave the money in there and after 5 years all distributions are tax free. I would suggest you find a broker who is knowledgeable about retirement accounts and investing and sign up with them. If your bank did not follow your wishs you have an issue with them.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent
If you make both deductible and non-deductible contributions to a regular IRA (not Roth) there is a form to fill out with your tax return. For a Roth, there isn't. Your banker is confused.

Keep your records of what you contributed, especially given the messup with the 07/08 contribution, in case it's ever questioned. But you don't have anything to report or amend. And when you retire it doesn't matter how much was your contribution and how much was appreciation.
The form 5498 is AUTOMATICALLY done by the ROTH custodian and it's sent to the IRS and you.
*That* form will track your total contributions.

The "letter" the bank is planning to send the IRS is a corrected 5498. They will send you a copy as well.

All you need to do is save the 5498s.
Repeating - YOU DO NOT SHOW ROTH IRA CONTRIBUTIONS! Stop listening to your banker. He knows NOTHING about taxes.

Helen, EA in PA
Tell your banker to stick to banking. He or she does not know what they are talking about as far as taxes are concerned. The folks who did your taxes never brought the subject up because there's nothing for you to report.

You don't "report" Roth contributions on your tax return. There's no place to record them. Any reporting is handled automatically by the account custodian.

When you take the distributions down the road when you are retired, you don't pay tax on the distributions. The mere fact that the funds are being distributed from a Roth means that they are tax free to you.

There's nothing for you to amend. The bank corrected their error on the original reporting. That error could have resulted in a bill from the IRS for the excise tax on an excess contribution but it's been rectified now, so no worries and no action needed from you.

I score a 5 out of 5 in A.P. test in high school.

How do I put it in a resume:

- Advancement Placement test- Spanish, perfect score ??

This looks weird to me.

Thanks.

OH
Hi

I would suggest you put it like this:

Spanish Advancement Placement - achieved 100%

Hope this helps

Trish

i upgraded my Barclay's young persons account today to a student account in branch with my i,d and the told me my overdraft wil be a minimum of £200 and it was £200 and im allowed to change it to up to £3000 because im a student its also interest free, but im 17 they said it was ok because i had the account so long and got a income and a student is that right i read there terms and it does not say you need to be 18 it says you need to be a qualifying student what do you think??? it does work i transferred £100 from it to my haifax account today.
You can upgrade once you give them proof of your university offer, etc. This allows you to have a Student Account and get all the benefits that it offers you…such as a larger overdraft, savings and so on…

The main thing I would advise you is that banks can be really good at tempting you with large overdrafts. When I first started at university, my overdraft was £200 then at Christmas I asked for an extension and they gave me £800 - over the four years I was a student it went up to £3000. The year after I graduated, Barclays wrote to me asking to pay back my overdraft. I ended up with a £10,000 Graduate Loan whilst only earning £11,500 a year - my payments were a quarter of my wage.

Be careful of Barclays bearing gifts - they will want them back eventually…

Good Luck at Uni!

heres a bit about me:
im 16,
10 years experience of piano

and i need to put my phone number in there…
i just need to know how to set it up. (: thanks!
PIANO LESSONS
First Lesson Free
Call for an appointment
555-555-5555

Also Craigslist is perfect for what you want to do and its free.
PIANO LESSONS
By appointment
'Call 333-333-3333 after 4PM. ( or whatever time works best for you.)

Keep it short and simple.

A tenant has decided to move out of my house for personal reasons, but she gave me less than a week's notice.
In the contract, she must give 60 days prior notice, but she gave me less than a week.
The lease doesn't say anything about an early termination fee or her having to pay up to two months' rent by not giving the proper notice.
Can I legally charge her rent for however long it takes, up to 60 days after the notice, until someone else moves in?
If she did not give you 60 days' notice as the lease required, you can keep whatever deposits she gave you to reimburse you for your lost rent, but you have an obligation to find a new tenant to mitigate your loss. You can legally sue her for lost rent but only up until the time a new tenant takes the apartment.
Thanks.

Report Abuse

She is liable for the rent for 60 days from the end of the rental period. If she is on a one year lease, that extends beyond the 60 days, she is liable until the end of the lease. You have a duty to her to try and rent the property under the same terms and conditions to mitigate her damages. Be very nice to her. You may want to be able to get a judgment against her for the damages, maybe garnishee her wages.
"" The lease doesn't say anything about an early termination fee or her having to pay up to two months' rent by not giving the proper notice.""

It appears you answered your own question, since those terms weren't stipulated in the contract, what grounds are you basing your claim on?
"The lease doesn't say anything about an early termination fee or her having to pay up to two months' rent by not giving the proper notice."

Yes it does, that's the purpose of requiring (and her agreeing) to give sixty days notice.
I would have to read the contract to know for sure. But if the contract is legally binding and she has a lease for longer then yes you can. If it is not in the lease and doesnt have any legal binding value then no.
Is the lease still in force, or is it past the lease time and on a monthly basis ?? If within the lease, you can her for rent up to the end of the 60 days, or until it is rented
You are 100% correct. 60 days means 60 days. As long as the lease says that 60 days notice is required, it is IMPLIED that she would have to pay rent for those 60 days if not giving that much notice.
Yes, but you must make an honest effort to replace her such as advertising in a local newspaper or on Craigslist.

I went to progressive.com as i need full coverage but I don't really understand. So is the recommended package they give me full coverage because if its not then how do I know if i got full coverage or not
Does the recommend package repair your car if you are in an accident or just the other persons car? If it repairs your then you have full coverage,if not then all you have is liability. Liability insurance covers damage that you cause to someone else's property but it does not cover damage to your car.If you are making car payments then you have full coverage,because the people who loaned you the money to buy the car require it.Check your policy and you should be able to tell,if you are still confused call them and they will help you.I have beeb with progressive for 10 years and nothing but praise for them.
There is no such thing as full coverage. You can pick and choose what coverages you want.

Liability covers if the accident is your fault it covers the other car.
Comprehensive covers theft and vandalism.
Collision covers hit and hit or if you crash your car then your insurance pays for the damage.

There are other coverages as well. Ask them for a description of what everything means and then pick the coverages you want.