Reference no: EM131263940
Marissa is 20 years, single and a U.S. citizen with a valid social security number.
-On Marissa's intake and interview sheet, she answered "Unsure" to the question, "Can anyone claim you or your spouse on their tax return"?
- During interview with Marissa, you determine the following facts:
(1) Marissa was a full-time student during 2015 year.
(2) Her only income was $6,500 in wages from her job.
(3) She lived with her parents all year, but they told her they will not claim her.
(4) Marissa does not provide more than half of her own support.
How many personal exemptions can Marissa claim on her 2013 tax return?
(A) Marissa can claim 0 exemptions, because her income is less than $10,000.
(B) Marissa can claim 0 exemptions, because her parents can claim her as a dependent.
(C) Marissa can claim 1 exemptions, because she had earned some income.
(D) Marissa can claim 1 exemptions, because her parents have decided not to claim her this year.
Difference between general control and application control
: In a 150 words or more what is the difference between a general control and an application control? When evaluating controls, what techniques can you use to determine if the control is an application control or a general control? Provide examples of ..
|
Individual taxpayer reports
: An individual taxpayer reports a $19,000 NOL in 2016. To which tax year can this NOL be apply? how would your answer change if taxpayer were C Corporation, rather than individual?
|
Analyse wiggen aircraft suppliers ltd balance sheet
: Analyse Wiggen Aircraft Suppliers Ltd balance sheet data shown in Table for the years 2013 and 2012. (Use financial ratios to Support your answer) Demonstrate Wiggen's ability in 2013 to meet its current liabilities
|
Audited financial statements and gave unqualified opinion
: Your neighbor Brian Porter invited you to lunch yesterday. Sure enough, it was no “free lunch” because Brian wanted to discuss the annual report of Midway Corporation. He owns Midway stock and just received the annual report. Brian says, “Our auditor..
|
How many personal exemptions can marissa claim
: Marissa is 20 years, single and a U.S. citizen with a valid social security number. -On Marissa's intake and interview sheet, she answered "Unsure" to the question, "Can anyone claim you or your spouse on their tax return"? How many personal exemptio..
|
Reported for consolidated cash after acquisition is complete
: Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1, 2013. To obtain these shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date. Flynn's stock had a fair..
|
Practically apply the decision making models
: You had to practically apply the decision making models and tools you have learned about throughout the subject. Reflect on your experience in completing the various assessments in this course. How critical do you believe the quality of decision maki..
|
What is the total cost of ownership in present value terms
: Joan is leading a 5-year project to equip the Murray state buses with WiFi. The cost of hardware will be $12,000 and the recurring costs of maintenance will be $3000 per year. Suppose, the project's life is 5 years, what is the total cost of ownershi..
|
Use challenger-defender rate of return analysis
: A firm must decide which of these 3 alternatives to adopt and expand its capacity. The firm wishes a minimum annual profit of 20% of the initial cost of each separable increment of investment. Any money not invested in capacity expansion can be inves..
|