Calculate Evan AGI and taxable income

Assignment Help Accounting Basics
Reference no: EM132568460

Question - This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $76,500 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows:

Cost of moving his possessions to the city (125 miles away) $1,200

Interest paid on accumulated student loans 2,940

Cost of purchasing a delivery uniform 1,540

Contribution to State University deliveryman program 1,370

Required - Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan's student loans this year.

Reference no: EM132568460

Questions Cloud

Determine omg luggage purchased neon green luggage : Assume the company uses a perpetual inventory system. Determine whether to include or exclude the items. OMG Luggage purchased neon green luggage
Define importance of standardized nursing terminologies : Explain how you would inform this nurse (and others) of the importance of standardized nursing terminologies. Describe the benefits and challenges.
In corporate and networked setting : In a corporate, networked setting, should end users be allowed to install applications on their company workstations, whether the applications are on a DVD
How to record the journal entries for the month of october : Record the journal entries for the month of October. (If no entry is required for a transaction/event, select "No journal entry required")
Calculate Evan AGI and taxable income : Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan's student loans this year
Cyberattacks using common cybersecurity resources : Tech companies prepare for cyberattacks using common cybersecurity resources.
What is the potential or realized impact of the legislation : In your opinion, what is the potential or realized impact of this legislation on the community? Do you agree or disagree with the legislation?
Persuasion in the workplace : What kind of persuasive messages are used in your workplace and how is reader resistance reduced? Most obviously, persuasion is present in retail as advertising
What is the expected return to the stocks a and b : What is the expected return to the following two stocks: Stock A and Stock B?State of Weather, Return on stock A,Return on stock B

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd