Solution:
a. Ellie is limited to the amount of 2230 (the sum of income earned for the year plus 350) when she files her own tax return.
= $1,880 + 350
Ellie is limited to the great of 2230.
b. The additional standard deduction of 1250 or 1550 is provided to people who are 65 and over or blind in 2017 based on the filing status.
The standard allowance of ruby and Woody shall be 12600 (commonly married) plus 1250 additional allowances of ruby aged sixty-five years old and 1250 additional allowances for Woody aged sixty-five.
= $12,170 + 1250 + 1250 = 14,670
c. Shonda is limited to more than 500 (the total amount of the $150 income earned for the year plus $350) when filing her personal tax return.
This limitation only extends to the "simple" deduction norm.
The regular extra deduction number on your refund is provided to a person who is 65 or older or blind.
Therefore, Shonda's standard deduction is 2050 (500+1550).
d. Frazier can not use the standard deduction and should therefore specificity as his wife itemizes.
Answer:
Unearned Fees A/c Dr. $8,370;
Fees Earned A/c Cr. , $8,370.
Explanation:
The amount of $33,480 paid is for 36 months. Subscription per months will be $33,480 divided by 36 months
=$33,480 / 12
=$930
The subscription was paid on April 1st. Between April 1st and December 31st, there were 9 months.
The subscriptions for that year will be
= $930 x 9
=$8,370
The journal entries will be as follow
Unearned Fees A/c Dr. $8,370;
Fees Earned A/c Cr. , $8,370.
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Answer:
So, accounting rate of return = 33 %
Explanation:
given data
net income after tax = $179,850
initial cost = $545,000
time = 7 year
salvage value = $34,000
we will get here the accounting rate of return
solution
as we know that accounting rate of return is express as
accounting rate of return = Net income ÷ initial investment .................1
put here value and we get
accounting rate of return = 
So, accounting rate of return = 33 %
