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Luda [366]
3 years ago
10

James had $15,345.21 withheld from his income one year. He

Mathematics
1 answer:
puteri [66]3 years ago
5 0

Answer:

$2,373.23

Step-by-step explanation:

-Tax refund is determined by comparing your total income tax to the amount that was withheld for federal income tax.

-Assuming that the amount withheld for federal income tax was greater than your income tax for the year, you will receive a refund for the difference.

#Refund =Withheld -Actual Tax liability=$15345.21-$12971.98=$2,373.23

Hence James' tax refund will be $2,373.23

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5/8 divided by 7/10 for the lowest fraction
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Find the difference. Enter your answer in simplest terms, using the slash (/) as the fraction bar.
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Each transaction has been an analyzed in the trial balance below by showing its effects on the accounting equation-specifically, identifying the accounts and amounts.

<h3>How to prepare a Trial Balance?</h3>

The Journal Entries are:

Cash                                                                                 6500

Photography equipment                                                33500

                  Capital                                                                       40000

Prepaid Insurance                                                           2100

                   Cash                                                                         2100

Office Supplies                                                                  880

                  Cash                                                                          880

Cash                                                                                   3331

           Revenue                                                                          3331

Utilities Expense                                                                 675

           Cash                                                                                 675

Cash account = 6500 - 2100 - 880 + 3331 - 675

Cash Account = 6176

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                                                                              Debit                         Credit

Cash                                                                       6176

Prepaid Insurance                                                  2100

Supplies                                                                   880

Revenue                                                                                                      3331

Utilities Expense                                                      675

Capital                                                                                                       40000

Photography Equipment                                         33500

Total                                                                         43331                       43331

Read more about Trial Balance at; brainly.com/question/24914390

#SPJ1

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