Answer:
I. 14.50%
II. 3.55
III. 51.48%
Explanation:
Kindly observe your question is incomplete but i found the other section of the question
Kindly check attached picture for detailed explanation
<span>1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?
The different copies are for John and each tax return he may file
2. Who sent John this W-2?
John's employer - ProperLiving Widget Engineering & Design
3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)
I do not know
4. How much did John 'take home' in net pay? (assuming this was John's only job)
I do not know
5. How much did John save in his 401(k) in the 2014 tax year?
I do not know
6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?
Yes
8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?
1) lower 2) higher
9. Which are tax deductible?
Student loan payments
</span>
A regular outcome could be a lot of hate from co-workers and your boss, and eventually you might be put on admin leave or fired.
Answer:
D) $801
Explanation:
Businesses can only deduct $25 per gift per client, in this case the client's wife is not an actual client, so Sue can only deduct $25 for the gift plus the wrapping expenses. She can also deduct the $400 spent in the calendars and the $370 watch.
Sue's total deductions = $25 + $6 + $400 + $370 = $801
Answer:
C) Income Statement and Cash Flow Statement
Explanation:
The Income Statement shows a clear separate entry for the Net income which is calculated after all the deductions and additions.
Net Income is the first balance shown on the cash flow statement after which the calculations are carried out to find the flow of cash in and out of the company.
Net income is also shown in the Balance Sheet but not separately but together with retained earnings. It is added to the retained earnings and the amount is shown as a whole amount of retained earnings or shown as a change in equity.
So best answer is C because the question asked is where would you find Net Income on?
Meaning separately. So it is separately present on Income Statement and Cash Flow Statement.
Otherwise it is present on all three statements ( on balance sheet as part of retained earnings or equity).
