Question

As an accountant, you have calculated income taxes for a customer for the last 3 years. During those three years, the customer made a tax payment of $1,250, received a tax refund of $550, and made a tax payment of $925. The customer also paid a processing fee of $60 each year.

Answer 1

Answer:

The total amount customer paid during those 3 years  is $1685

Step-by-step explanation:

We are supposed to find the total amount customer paid during those 3 years

Customer made a tax payment = $1250

He received a refund of amount = 550

So, amount paid by him = 1250-550

Amount paid by him ==700

Now again He made a tax payment = $925

Processing fee = $60

So, Total Amount paid by him =700+925+60

Total Amount paid by him =1685

Hence the total amount customer paid during those 3 years  is $1685