User Account

All Pages

How much is taxable income

Assignment Help Financial Accounting
Reference no: EM132945437

Mrs A, a single mum with two children, would like you to assist her to prepare her tax return for the 30 June 2021 tax year. She has presented you with the following list of items.

Payment summary from Company B - 87560
Payment Summary for casual work from Company C - 48179
Payment for attending a casual work conference - 7536
Reimbursement for expenses at the casual work conference - 2000
State lottery winnings - 1000
Net capital gain on shares sold during the year - 7446
Dividends received - 6811
Compensation for loss of wages due to an injury at her casual job - 1000
Interest from a bank term deposit - 1000
Money from selling eggs that her chickens laid to her friends - 500
General work deductions - 10000
Deductions that are not allowed for tax purposes - 5000

Problem 1: She had private insurance from 1 January 2021 and a HELP debt of $20,000. How much is her taxable income? (enter the whole number without sign and symbol)

Reference no: EM132945437

Questions Cloud

Determine what is the present value of the contract : What is the present value of the contract if the lease rate is 4.25% compounded annually? A contract requires lease payments of $700 at the beginning.
Identify the accounting issues arising within the scenario : Identify the accounting issues arising within the above scenario, referring to relevant accounting concepts and standards
What amount should A and C account change : In 2020, the partnership had net loss of P125, 624 before the interest and salaries to partners. What amount should A and C account change
How much interest would he earn in the investment : How much interest would he earn in this investment? Thomas set up a savings fund for his son's education so that he would be able to withdraw $1,600
How much is taxable income : She had private insurance from 1 January 2021 and a HELP debt of $20,000. How much is her taxable income? (enter the whole number)
What is the correct amount of petty cash fund : CHECK DRAWN BY THE COMPANY TO THE ORDER OF PETTY CASH 5,000. What is the correct amount of petty cash fund
What is the firm wacc for ssw : The cost of equity is 16.3% and the pre-tax cost. What is the firm's WACC (weighted average cost of capital), and how to calculate?
Find what amount to be credited to ordinary share capital : Find what the amount to be credited to Ordinary Share Capital account will be? If 500 shares of Preference Shares were converted into Ordinary Shares
What is carrying amount of accounts receivables on December : MUJAR Company had accounts receivables of P4,000,000. What is the carrying amount of accounts receivables on December 31, 2019

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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