Krete is an unmarried taxpayer with income exclusively from wages. by december 31, year 1, krete’s employer had withheld $16,000 in federal income taxes, and krete had made no estimated tax payments. on april 15, year 2, krete timely filed an extension request to file her individual tax return and paid $300 of additional taxes. krete’s year 1 income tax liability was $16,500 when she timely filed her return on april 30, year 2, and paid the remaining income tax liability balance. what amount is subject to the penalty for the underpayment of estimated taxes?

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i.e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000