In the current year of income, John had $65,000 of assessable income, $8,000 of deductions and $3,000

Fantastic news! We've Found the answer you've been seeking!

Question:

In the current year of income, John had $65,000 of assessable income, $8,000 of deductions and $3,000 net exempt income. What is John’s taxable income?

	A.	$2,000
	B.	$75,000
	C.	$65,000
	D.	$57,000

Related Book For answer-question

Elementary Statistics Picturing the World

ISBN: 978-0321911216

6th edition

Authors: Ron Larson, Betsy Farber

See More Books

Posted Date: Nov 17, 2022 06:10 AM

See More Questions

8. A common use for sequential coding is (1 Point) O identifying inventory items identifying documents O creating the chart of accounts identifying fixed assets
Cost accountants use the concept of equivalent units of production (EUP) to measure actual production for a period in a process costing environment. Write a memo describing what EUP measures and why...
Number of classes: 8 Data set: Number of hospitals in each state (a) An expanded frequency distribution, (b) A frequency histogram, (c) A frequency polygon, (d) A relative frequency histogram, and...
What tensions may arise if a shareholder-centric model is imposed on a stakeholder-focused society?
Show that the piecewise-linear basis functions {i}ni =1 are linearly independent.
Given two 2.00-+C charges, as shown in Figure P25.16, and a positive test charge q = 1.28 x 10-18 C at the origin, (a) What is the net force exerted by the two 2.00-+C charges on the test charge q?...
Use the Hubble expansion relation (9.1.1), the temperature scaling relation (9.1.3), and the energy density relation before the electron-positron annihilation (9.3.6b) to show that the temperature as...
Determining sales and variable cost volume variances Todhunter Publications established the following standard price and costs for a hardcover picture book that the company produces. Todhunter...
Accounting information systems collect and process information from transactions and then organizes it into useful information for company management and typically include the general journal, which...
1. Since Mr. Snodgrass doesnt have any historical data, (only an estimate of the number of customers hell serve each month), which specific type of qualitative method is he using? What would be the...
Hillary and Tom have one child, Kitty. In 2015 Hillary and Tom entered into a written agreement providing that Tom would pay Hillary $5,000 each year in alimony and $10,000 each year in child...
Which of the following industries would you classify as an oligopoly? Explain your answer. If you are not sure, what information do you need to know to decide? a. Clothing b. Cosmetics c. Cell phones...
According to the United Airlines Website, their Basic Economy fare differs from their standard Economy fare as follows: complimentary seat selection and upgrades are not available, group and family...
For each of the following goods, state whether it is a private good, mixed good, or public good. Discuss your rationale in terms of exclusivity and rivalry. a. Tap water b. Fish caught from a river...
Plaza Mayor, a historical landmark in the heart of Madrid, Spain, has several stores, cafs, and restaurants that attract tourists and locals. It is a place where different types of alliances and...
The marriage market involves an arrangement by which couples meet, get to know each other, and eventually may decide to enter into a matrimonial contract. a. Explain the nature and role of asymmetric...
Why program planning is important in public health leadership?
Subprime loans have higher loss rates than many other types of loans. Explain why lenders offer subprime loans. Describe the characteristics of the typical borrower in a subprime consumer loan.
P(A) = 0.40, P(B) = 0.10, P(C) = 0.50, P(A and B) = 0.05, P(A and C) = 0.25, P(B and C) = 0.10, P(A and B and C) = 0.03 In the Venn diagram shown below, P(A or B or C) is represented by the blue...
In hypothesis testing, does using the critical value method or the P-value method affect your conclusion? Explain.
The odds of winning an event A are p: q. Show that the probability of event A is given by P(A) = p / p + q. Use the following information. The chances of winning are often written in terms of odds...
Cress Trust owns houses in Marion County, for whom Rainbow Realty Group, Inc., sells, rents, and manages. The same person serves as Rainbows president and Cresss corporate trustee. Cress offers four...
Genevieve and William Timmons began their tenancy of a ground-floor apartment at Cobblestone Square in September 2011. Kingsley-Johnston, Inc., is a property management company responsible for...
Linda Miller rented 35 acres of pastureland in Wabaunsee County, Kansas, from William Burnett for $1,000 per year. Miller and her husband used the land to grow and harvest brome grass for their...

In the current year of income, John had $65,000 of assessable income, $8,000 of deductions and $3,000

Question:

Expert Answer:

SOLUTION Johns taxa... View the full answer

Elementary Statistics Picturing the World

Students also viewed these accounting questions