Alice Cummings is an excellent salesperson and earned $97,000. She paid $17,000 for necessities such as...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Alice Cummings is an excellent salesperson and earned $97,000. She paid $17,000 for "necessities" such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. Her Discretionary Income is O $97,000 O $56,000 O $41,000 O $73,000 O $80,000 Alice Cummings is an excellent salesperson and earned $97,000. She paid $17,000 for "necessities" such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. Her Discretionary Income is O $97,000 O $56,000 O $41,000 O $73,000 O $80,000
Expert Answer:
Related Book For
Federal Tax Research
ISBN: 9781285439396
10th edition
Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill
Posted Date:
Students also viewed these accounting questions
-
Carol is a 17-year-old high school senior. She will graduate in 1 month and has plans to attend the state university a few hours from her home. Carol has always made good grades in school, has...
-
Alice is selling her 2000 Chevrolet cavalier to her friends, Bob and Charles. It is commonly known that Bob attaches a value of $6000 to Alices old car, while Charless value of the car is $6500....
-
As a result of the income she generated from her on-campus job, Anh found herself with a small amount of disposable income. In early 2013, she took $ 1,000 of her disposable income and purchased...
-
Elastic bands are attached to tuning fork 1 ( which was 2 5 6 Hz ) to reduce its frequency. It is sounded again with tuning fork 2 ( 2 5 5 Hz ) , making 1 2 beats in 6 . 0 s . What is the new...
-
Do the tables exhibit referential integrity? Answer yes or no and then explain your answer. Write NA (Not Applicable) if the table does not have a foreign key. Discuss in detail.
-
form. Use DeMorgan's Theorem to reduce the Boolean Expression below to its simplest A+ BC+D(E+ F)
-
Determine if the column can support the eccentric compressive load of \(1.5 \mathrm{kip}\). Assume that the bottom is fixed and the top is pinned. Use the NFPA equations in Sec. 13.6 and Eq. 13-30. 3...
-
Sharp Paper Inc. has three paper mills, one of which is located in Memphis, Tennessee. The Memphis mill produces 300 different types of coated and uncoated specialty printing papers. This large...
-
Claudia is self-employed and earns $190,000 p.a. If she makes a tax deductible (concessional) contribution to superannuation of $15,000, will she save tax and if so, how much? Exclude Medicare Levy/...
-
PhotoTech, Inc., a manufacturer of rechargeable batteries for digital cameras, signed a contract with a digital photography company to produce three different lithium-ion battery packs for a new line...
-
what does it mean by mattel inc's revenue being recognized when control of the goods is transferred to the customer?
-
A ball is shot straight up near the Earth's surface. (a) Can its velocity be zero while its acceleration is nonzero? \((b)\) Is the velocity of the ball the same at any two points, one of which is on...
-
An electron is decelerated from \(4 \times 10^{6} \mathrm{~m} / \mathrm{s}\) to zero in \(6 \times 10^{-8}\) s. (a) Calculate the distance travelled by the electron in this interval. (b) Calculate...
-
A sports car goes from zero to \(108 \mathrm{~km} / \mathrm{hr}\) in 3 seconds. (a) What is the acceleration of the car, assuming it is constant? (b) How far does it travel during this time period?...
-
A thin disk of radius \(R\) carries a uniformly distributed charge. The surface charge density on the disk is \(\sigma\). What is the electric field at a point \(\mathrm{P}\) along the perpendicular...
-
In 2001, the Fed pursued an expansionary monetary policy and reduced interest rates. At the same time, President George W. Bush pushed through legislation that lowered income taxes. a. Illustrate the...
-
2.78 To which carbon atoms in a heptane molecule can each of the following alkyl groups be attached without extending the longest carbon chain beyond seven carbons? b. Isopropyl c. sec-Butyl a. Ethyl...
-
Determine the reactions in supports A and D and connections B and C. Sketch its shear and moment diagram and determine the magnitude ankoration of the maximum shear and moment for every member. 18 3...
-
What two bodies have authority to set accounting standards in the United States?
-
Summarize what is discussed in each of the following sections of Circular 230: a. Subpart A, 10.4(c) b. Subpart B, 10.21 c. Subpart B, 10.26 d. Subpart B, 10.29
-
Use WestlawNext Campus Research to answer the following questions: a. Find Reg. 1.61-11. What is the subject matter of this regulation? b. Which American Law Reports Tax covers the theft of grain...
-
Consider a scenario where an online trade application is being developed. The two registered users can negotiate over the price of a product being traded. Create a class diagram for this application...
-
Consider a scenario where you negotiate with a company over the salary and perks being offered for a position. Create a class diagram for this using negotiation patterns as your base and draw a...
-
What are the three foundation concepts of stability model?
Study smarter with the SolutionInn App