Domniqued is a customer

This year Mary received a $600 refund of state income taxes that she deducted on her tax return last year. Mary included a total

Mariulka [41]

Answer:

$600

Explanation:

If instead of itemizing, Mary had elected the standard deduction last year, then she wouldn't have to include any state income tax refund on her current gross income. But since she itemized her deductions and actually deducted these $600 from her gross income last year, she must include them in he current gross income.

5 0

2 years ago

Bridgeport Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the busin

Goryan [66]

Ok thanks so much for your i i for a while and i is going there for the rest of

5 0

3 years ago

Why is it important for a partnership agreement to spell out managerial responsibilities and financial arrangements?

alina1380 [7]

It is important so no one in the agreement screws the other person over

5 0

3 years ago

Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following

MrRa [10]

Answer:

$\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]$

Explanation:

We mulitply each line by the stated percent of each activity

for example

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

6 0

3 years ago

Payroll Taxes Champaign Inc., a company that provides educational consulting services to large universities across the nation, h

HACTEHA [7]

Answer:

Date Account Title Debit Credit

XX-XX Wages Expense $62,000

Federal Income Tax Withholding Payable $7,440

Social Security Taxes Payable (Employee) $3,844

Medicare Taxes Payable (Employee) $ 899

Cash $49,817

Working

Social Security Taxes Payable (Employee) = 6.2% * 62,000 = $3,844

Medicare Taxes Payable (Employee) = 1.45% * 62,000 = $899

Date Account Title Debit Credit

XX-XX Social Security Taxes Expense (Employer) $3,844

Medicare Taxes expense (Employer) $899

State Unemployment tax expense $75

Social Security Taxes Payable (Employer) $3,844

Medicare Taxes Payable (Employer) $899

State Unemployment tax Payable $75

5 0

3 years ago

Domniqued is a customer​

Domniqued is a customer