Pat was divorced from her hunsband in 2008 during the

Assignment Help Accounting Basics
Reference no: EM13590831

Pat was divorced from her hunsband in 2008. during the current year she received alimony of $18000 and child support of $ 4000 for her 11 yearold son, who lives with her. her former hunsband has asked her to sign an agreement giving him the dependency exepmption for the child but she declined to do so. after the divorce she accepted a position as a teacher in the local school district. during the current year she received a salary of $ 32000. the school district paid her medical insurance premiums of $ 6900 and provided her with group term life insurance coverage of $ 40000. the premiuns attributable to her coverage equaled $ 160. during her marriage, pat's parents loaned her $ 8000 to help with the down payment and that they were cancelling the balance on the loan, which was $ 5000. they didi sobecause they wanted to help their on daughter.pat received dividends from national motor company of $ 4600 and interest on state of california bonds of $ 2850.pat sold her personal aumobile for $ 2800 because she needded a larger car. the automobile had cost $ 8000. she pirchased a new auto for $11000. pat had itemized deductions of $9100. compute her taxable income for 2013.

Reference no: EM13590831

Questions Cloud

Saffing company purchased the net assets ie assets minus : staffing company purchased the net assets i.e. assets minus liabilities of time management inc. for 390000. time
If the diagonal length of a square is tripled how much is : question 1 if the diagonal length of a square is tripled how much is the increase in the perimeter of that
So for variance analysis is flexible budget variance the : so for variance analysis is flexible budget variance the same thing as total variance? since flexible budget variance
A car weighing 10 n on a hill which makes an angle of 20 : a car weighing 10 n on a hill which makes an angle of 20 degree with the horizontal.find the components of cars weight
Pat was divorced from her hunsband in 2008 during the : pat was divorced from her hunsband in 2008. during the current year she received alimony of 18000 and child support of
Dixon construction company was awarded a contract to : dixon construction company was awarded a contract to construct an interchange at the junction of u.s. 94 and highway 30
Statement of cash flows a summary of cash flows for : ex 2- 1 chart of accounts the following accounts appeared in recent financial statements of continental airlines
An isosceles trapezoid has an area of 40 square meters and : question 1 the area of an isosceles trapezoid in 246 square meter. if the height and the length of one of its congruent
Obama company sells its product for 25 per unit during 2012 : obama company sells its product for 25 per unit. during 2012 it produced 20000 units and sold 15000 units there was no

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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