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kvasek [131]
3 years ago
10

Compute Emily's 2018 taxable income on the basis of the following information. Her filing status is single. Salary $85,000 Inter

est income from bonds issued by Xerox 1,100 Alimony payments received (divorce finalized in 2014) 6,000 Contribution to traditional IRA 5,500 Gift from parents 25,000 Capital gain from stock investment, held for 7 months 2,000 Amount lost in football office betting pool 500 Age 40
Business
1 answer:
Allisa [31]3 years ago
3 0

Answer:

The  Emily's 2018 taxable income is $76,600

Explanation:

The computation of the taxable income for the year 2018 is shown below:

= Salary + interest income from bonds issued by Xerox + Alimony payments received + Capital gain from stock investment, held for 7 months - Contribution to traditional IRA - standard deduction

= $85,000 + $1,100 + $6,000 + $2,000 - $5,500 - $12,000

= $76,600

The standard deduction for married and single tax payers is $12,000

And, the Gift from parents  is not taxable  & Amount lost in football office betting pool is not allowed for deduction as it is come under gambling.

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Due to the complexity of the incident, the Incident Commander has expanded the Operations Section to include an Evacuation Group
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Answer:

Modular Organization

Explanation:

Modular organization is an Incident Command System structure that employs a top-down approach and identify a response organization structure on the basis of the size, complexity, or hazardous effect of an incident. It is the responsibility of the Incident Commander to establish and expand the modular organization as was the case in the example. The ICS organization was expanded to include the Evacuation Group due to the size, complexity, or severity of hazard.

3 0
3 years ago
Lorenzo, who works as a supervisor at Travelus Corp., notices that one of the employees, Maya, takes very long coffee breaks whi
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Answer:

From the given information, we can infer that Lorenzo has decided to give Maya a warning.

Explanation:

The warning is the statement which indicates any unpleasant situation which may arise if not taken any precaution. Although it is unpleasant to hear and to contemplate, it gives sufficient time for any situation to be covered up within the time. In the above case, Lorenzo decided to warn Maya about her activity. By doing this he would be able to draw Maya's attention towards her behavior.

5 0
3 years ago
Your uncle repays a $450 loan from Tenth National Bank (TNB) by writing a $450 check from his TNB checking account. Assume these
katrin [286]

Answer:

Uncle accounting:

         Cash              Note Payable        

DEBIT   CREDIT      DEBIT      CREDIT

             450             450

Bank Accounting

         Cash              Note Receivables

DEBIT   CREDIT      DEBIT      CREDIT

450                                              450

B.- False

Explanation:

The uncle will see a decrease in their assets (cash) and a decrease i ntheir liabilties(Note payable)

Therefore their net equity (wealth) will remain the same

The bank will record the collection from their client and decrease their receivables.

6 0
3 years ago
Workers in contributing to the common good is
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4 0
3 years ago
The following proceeds received by Grove City in year 1 are legally restricted to expenditure for specified purposes: Donation b
tatiyna

Answer:

The $1,200,000 should be accounted for in Grove’s special revenue funds

Explanation:

Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.  

The computation of special revenue funds is shown below:

= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district

= $300,000 + $900,000

= $1,200,000

4 0
3 years ago
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