Calculating federal tax due

Assignment Help Accounting Basics
Reference no: EM1364770

Sheniqua, a single taxpayer, had taxable income of $73,239. Her employer withheld $14,077 in federal income tax from her paychecks throughout the year. Using the tax tables, would Sheniqua receive a refund or would she be required to pay additional tax? What is the amount?

Reference no: EM1364770

Questions Cloud

Comparison of formal research and business proposals : What are some differences? What are the capabilities of one in contrast with the capabilities of the other?
Write pl-sql block to display the last name of people : Write a PL/SQL block that displays the last name and salary of the following people. Each of these can be done separately as PL/SQL, first to test and get the output lines then encapsulated in the procedure.
Discusses debits and credits : Define the terms debit and credit. Explain how debits and credits affect the following: assets, liabilities, owner's capital account, revenues and expenses.
Calculate required down payment : The Smiths are purchasing a home that sells for $175,000. The lending institution is requiring a minimum down payment of 20%. To obtain a 20 year mortgage at 8 percent,
Calculating federal tax due : Sheniqua, a single taxpayer, had taxable income of $73,239. Her employer withheld $14,077 in federal income tax from her paychecks throughout the year. Using the tax tables
Limitations of inventory control models such as eoq : What do you think can be the limitations of inventory control models such as EOQ, continuous-review, and periodic-review models?
What is the maximum mass it can support in freshwater : what is the maximum mass it can support in freshwater. find the maximum height of the projectile is equal to its horizontal range.
Explain and analyze the waysto use the federal register : Explain and Analyze the ways in which managers could use the Federal Register to determine the single most significant challenge associated with its use
Calculate the present and future value : Calculate the present value of a $100 cash flow for the following combinations of discount rates and times:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Budgets for different types of organizations

Please address the differences in creating budgets for the following entities: manufacturing, non-manufacturing, serviced-based business, and not-for-profit organizations.

  Journal entries-inventory valuation

Prepare the journal entries required at December 31, 2007 and at December 31, 2008 assuming that a perpetual inventory system and the direct method of adjusting to market is used.

  Interest earned on savings account for six months

A friend has $950 that has been saved from her part-time job. She will need her money-Calculate the interest earned on the savings account for six months.

  Various accounting treatments for stock compensation

Evaluate the various accounting treatments for stock compensation and how do they relate to the practice of accounting and its uses in business.

  Keeping a manual accounting system

Your friend, Wendy Geiger, owns a small retail store that sells canies and nuts. Geiger acquires her goods from a few select vendors. She generally makes purchase orders by phone and on credit. Sales are primarily for cash. Geiger keeps her own ma..

  Record allowance for doubtful accounts

The ledger of Elburn Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $28,000.

  Report foreign currency on consolidated balance sheet

A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2009, for 100,000 pesos each. It pays for both items on June 1, 2009

  Recording sales tax journal entries

Prepare an appropriate journal entry to indicate the impact of the transactions on the state's fund financial statements for the year ending December 31, 2011.

  Realized gain on transaction

Alvin owned a building located in Kansas that he rented to a local business-Alvin built a new building at a cost of $400,000. What is Alvin’s realized gain (loss) on this transaction?

  Consolidated financial statements

According to US GAAP, what should be the basis for reporting the assets and liabilities of Small within consolidated financial statements created on the date of acquisition?

  Selling and administrative expense budgets

The selling and administrative expense budget of Fenley Corporation is based on the number of units sold, which are budgeted to be 2,500 units in January. Prepare the selling and administrative expense budget for January.

  Buying and selling division-allocation practice

There are various steps that can be used to reconcile the use of different approaches between the buying and selling divisions

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