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DanielleElmas [232]
3 years ago
15

Determine the amount of the 2018 standard deduction allowed in the following independent situations. In each case, assume the ta

xpayer is claimed as another person's dependent.
Amount of the
Standard Deduction
a. Mason, aged 18, reports income as follows: $1,900 from a paper route and $10,800 from repairing computers. $
b. Emma, aged 17, records income as follows: $950 in cash dividends from a stock investment, $5,100 from providing dance lessons, and $1,700 from babysitting. $
c. Samuel, aged 13, incurs income as follows: $100 interest on a bank savings account and $500 from mowing neighbors' lawns. $
d. Gabriel, aged 22, reports income as follows: $300 in cash dividends from a stock investment. $
e. Elijah, aged 65, incurs income as follows: $12,000 from Social Security and $5,200 in wages from a part-time job.
Business
1 answer:
wlad13 [49]3 years ago
4 0
I believe it’s b.
Sorry if it’s wrong I’m not sure
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Which law signed by president george w. bush, allowed for more economic freedom amongst different kinds of businesses on the 401
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6 0
1 year ago
Wayman Corporation reports the following amounts in its December 31, 2018, income statement. Sales revenue $ 376,000 Income tax
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Answer:

                                          <u>Wayman Corporation</u>

                <u>Income statement for the year ended December 31, 2018</u>

                                                        Amount in $       Amount in $

Sales revenue                                                              432,000    

Cost of goods sold                                                       <u>(136,000)</u>

Gross profit                                                                  296,000

<u>Operating expenses</u>

Salaries expense                                   46,000

Advertising expense                             36,000

Utilities expense                                    56,000          (138,000)

Operating income                                                         158,000

<u>Non-operating or other</u>

Interest expense                                                           (26,000)

Income before income taxes                                        132,000

Income tax expense                                                    <u> (56,000)</u>

Net income                                                                  <u> </u><u>   76,000</u>

Explanation:

A multiple income statement is one in which incomes and expenses are classified under operating and non-operating heads. Like other forms of income statement, it shows the income and expenses of an entity for a given period of time.

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Um...look what i found
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NASTY AND ALSO THE GUY THE ANSWERED IS NOW BANNED HAHAHA
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