User Account

All Pages

Calculate the amount of medical expenses

Assignment Help Accounting Basics
Reference no: EM131756323

I need help computing A and B 

Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses:

     
Dentist charges $ 900
Physician's charges   1,800
Optical charges   500
Cost of eyeglasses   300
Hospital charges   2,100
Prescription drugs   250
Over-the-counter drugs   450
Medical insurance premiums (not through an exchange)   775

a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.

b. Suppose that Simpson was reimbursed for $250 of the physician's charges and $1,200 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.

Reference no: EM131756323

Questions Cloud

Calculate jeff''s itemized deductions after considering : Calculate Jeff's itemized deductions after considering the overall phase-out of itemized deductions
Vent-for-surplus theory of international trade : Explain briefly the Vent-for-surplus theory of international trade. What is the relevance of this theory to the current development experience of low income.
Assignment about a company called omantel in oman : Demonstrate the ability to compare different theories and perspectives of strategic management and use and appraise them appropriately
Running a rabies vaccination clinic for dogs : Dr. Tarun? Gupta, a Michigan? vet, is running a rabies vaccination clinic for dogs at the local grade school.
Calculate the amount of medical expenses : Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations
Explain the terms of the original partnership agreement : Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $289,000 based on the terms of the original partnership.
Define attitude and halo effect : Define attitude and its three components. Define the Halo effect and give an example.
How are you going to set your selling price : How are you going to set your Selling Price? (Market/Cost?) How much will each factory worker be paid? Calculate the Break Even Point in Unit and in Dollar.
What is the lifo reserve : The ending inventory under LIFO is $56,030. Under FIFO, the ending inventory is $48,920. The sales were $590,840 while the cost of goods sold was $388,745.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Write down 350- to 700-word article analysis in which you

write a 350- to 700-word article analysis in which you identify situations that might lead to unethical practices and

  Each unit of finished product requires 5 pounds of raw

each unit of finished product requires 5 pounds of raw materials. the firms policy is to have raw material inventory on

  Q ron carroll operates a small company that books

q. ron carroll operates a small company that books entertainers for theaters parties conventions and so forth.the

  A lawn care company started business on january 1 2012 the

a lawn care company started business on january 1 2012. the company billed clients 105000 for lawn care services

  Under the immediate write-off approach to overhead

smith company applies overhead based on machine hours. the following data was availablebudgeted factory overhead

  How would this years total owners equity be affected by a

how would this years total owners equity be affected by a common stock not cash dividend that had been declared and

  If a company purchased a tractor trailer for 98000 the

if a company purchased a tractor trailer for 98000. the company uses the units-of-activity method for depreciating its

  Determination and distribution of excess schedule

Prepare a value analysis and a determination and distribution of excess schedule - Complete a worksheet for consolidated financial statements for 2016. Include columns for eliminations and adjustments, consolidated income, NCI, controlling retained..

  Complete the ratio excel template

Using the statement of operations and balance sheet for the community hospital, complete the Ratio excel template

  Direction of the effect on cash flows

For each of these, indicate whether the activity is investing (I) or financing (F) and the direction of the effect on cash flows

  What disclosures are required by the debtor in a troubled

What disclosures are required by the Debtor in a Troubled Debt Restructuring?

  What is the present value of the five rents

Vaughn Enterprises leases property to Hamilton, Inc. What is the present value of the five rents discounted at 11%

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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