Acct 553 Week 1 Homework

ACCT 553 Week 1 Homework

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3-31.

Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of $12,250 and four exemptions. Assuming an adjusted gross income of $40,000, what is their taxable income for 2012?

3-32.

Compute Marie's taxable income for 2012, assuming she is single and claims two dependent children. Her adjusted gross income is $70,000, and she has itemized deductions of $9,000.

3-36.

Compute Stanley's taxable income for 2012, assuming he has $1,000 in wages from working in a grocery store and $2,000 in interest income from some bonds he owns. Stanley, age 16, is claimed as a dependent on his parents' return.

13-55.

Mr. Z, a non-dealer, sold assets on an installment plan. Determine Mr. Z's gross income for 2012. Relevant data include:

13-69.

Comprehensive Problem. Bill is a cash-basis, calendar-year taxpayer. Which of the following December items result in gross income or deductions for the current year?

ACCT 553 Week 1 Homework

Purchase here

http://devrycourse.com/acct-553-week-1-homework

Product Description

3-31.

Tom and Linda are married taxpayers who file a joint return. They have itemized deductions of $12,250 and four exemptions. Assuming an adjusted gross income of $40,000, what is their taxable income for 2012?

3-32.

Compute Marie's taxable income for 2012, assuming she is single and claims two dependent children. Her adjusted gross income is $70,000, and she has itemized deductions of $9,000.

3-36.

Compute Stanley's taxable income for 2012, assuming he has $1,000 in wages from working in a grocery store and $2,000 in interest income from some bonds he owns. Stanley, age 16, is claimed as a dependent on his parents' return.

13-55.

Mr. Z, a non-dealer, sold assets on an installment plan. Determine Mr. Z's gross income for 2012. Relevant data include:

13-69.

Comprehensive Problem....