Ac553Weekone Assignments

Week 1 Assignment Solution Taxable Income deliberation: get married Taxpayers 3-31. Tom and Lindas taxable income is $13,250. familiarized gross income $40,000 less(prenominal): Itemized demonstrations v. $11,600 11,950 less(prenominal): Personal exemptions (4 × $3,700) 14,800 Taxable income $13,250 Taxable Income Computation: single Taxpayer 3-32. Maries taxable income is $49,900. Adjusted gross income $70,000 less(prenominal): Itemized conclusions v. $8,500 9,000 Less: Personal exemptions (3 × $3,700) 11,100 Taxable income $49,900 Taxable Income: Standard DeductionDependents 3-36. Stanleys taxable income is $1,700. Adjusted gross income $3,000 Less: Standard deduction (earned income + $300) 1,300 Taxable income $1,700 If Stanley is age 16, $1,600 bequeath be taxed at his bare(a) reckon of 10 percent and $100 (net unearned income ($2,000 ? $950 ? $950)) will be taxed at his parents marginal rate. installment Sales: Installment Plans 13-55. Mr.

Zs gross income for 2011 is $57,850: 2009 50/200 × $ 25,000 = 25% × $ 25,000 = $ 6,250 2010 81/300 × $ 80,000 = 27% × $ 80,000 = 21,600 011 96/400 × $125,000 = 24% × $125,000 = 30,000 $57,850 countywide ProblemAccounting Methods: Cash-Basis Taxpayers 13- 69 a. hoggish income $700, constructive receipt. b. deductible because mailed by year-end and subsequently cashed. c. perfect(a) income when received, as well though a prepayment because Bill is on the cash basis. d. Gross income, constructive receipt. e. Prepayment of rent is gross income. f. Dedu ctible, even though gainful with borrowed ! funds. g. Not gross income until collected.If you want to get a fat essay, order it on our website: BestEssayCheap.com

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