Calculate the Mickey AGI in given case

Assignment Help Accounting Basics

Reference no: EM131814031

Question: Mickey Mouse had the following transactions during 2016. He files as head of household and has 3 dependents:

Wages received $65,000

City and State income taxes paid $4,100

Interest income on bonds: Issued by City of Albuquerque $950

Issued by US Treasury $1,200

Issued by Intel Corporation $3,800

Totaling; $5,950; Alimony paid $3,200;

Property taxes paid on personal residence $ 3,550;

Lottery prize winning s received $4,700;

Donation made to the Salvation Army $1,380;

Child Support paid $7,500;

Unreimbursed/Deductible moving expenses $750;

Gift received from his favorite aunt $12,000;

Capital Loss from Stock investment ($3,650);

Home mortgage interest paid $8,250;

Medical expenses paid $3,160.

Calculate Mickey's AGI.

Reference no: EM131814031

Questions Cloud

Calculate the dividends per share on each class of stock : Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places.

Prepare an income statement based on full absorption costing : Determine the apparent profit or loss on the special order based solely on these data

Why are security prices and interest rates inversely related : How might the payments system evolve over time to reduce transactions costs for society? Why are security prices and interest rates inversely related?

Discuss about a global societal problem : Describe background information on how that problem developed or came into existence. Show why this is a societal problem, and provide perspectives.

Calculate the Mickey AGI in given case : Mickey Mouse had the following transactions during 2016. He files as head of household and has 3 dependents.

What factors may impact the increase or decrease of health : Who are the stakeholders in this situation? What factors may impact the increase or decrease of health services supply and demand in your county?

Determine the cost formula for overhead costs : Using the high-low method, determine the cost formula for overhead costs (use ALL of the data, i.e., ignore the years and combine the data)

How much interest will you owe at the end of the first year : How much interest will you owe at the end of the first year?

Summarize the business research project or article : Summarize the business research project or article. Determine the potential unethical research practices that should be avoided in this project.

User Account

All Pages