Receiving monthly pension payments

Assignment Help Financial Accounting
Reference no: EM13912031

Amir is Single. He has 25,000 salary, tax-exempt interest of 3,000, and dividends from domestic corporations of 2700. On sep 1 he began receiving monthly pension payments of 1,000. Assume an exclusion ratio of 40%. He received rent of 12000 and incurred 17000 of expenses related to the duplex. What is his AGI?

Reference no: EM13912031

Questions Cloud

What was the cost of construction actually incurred : In 2016, Long Construction Corporation began construction work under a three-year contract. The contract price is $2,100,000. Long recognizes revenue over time according to percentage of completion for financial reporting purposes. What was the cost ..
Volume of gas could extinguisher : A carbon dioxide fire extinguisher of 10 liters capacity contains 5 kg of carbon dioxide. What volume of gas could this extinguisher deliver at NTP?
Calculate the concentration of the acid : The acid from a soil sample was extracted and analyzed by titration. A 20.0 mL sample required 16.0 mL of 2.00 mol/L calcium hydroxide solution to undergo neutralization. Calculate the concentration of the acid. Include a balanced equation in your..
How many brazilian reals equal a british pound : Assume the British pound is worth $1.5658 and the Brazilian real is worth $0.3852. What is the cross rate of the British pound with respect to the Brazilian real? That is, how many Brazilian reals equal a British pound? If you have 5,000 British p..
Receiving monthly pension payments : Amir is Single. He has 25,000 salary, tax-exempt interest of 3,000, and dividends from domestic corporations of 2700. On sep 1 he began receiving monthly pension payments of 1,000. Assume an exclusion ratio of 40%. He received rent of 12000 and incur..
A chemical equation : 1) in a chemical equation a) the mass of the reactants equals the mass of the products b)the mass of the products is greater than the mass of reactants
Compute the sample mean and sample standard deviation : When we compute the sample mean and sample standard deviation for the transaction times, we find that x = 36.56 and s = 4.475.
Partnership distributed-what amount is taxable : Susans salary is 44,000 and she received dividends of 600. She recieved a statement from SJ partnership indicating that her share of the partnership's income was 4,000. The partnership distributed 1,000 to her during the year and 600 after year end. ..
Complete production cost report for cutting department : Complete a production cost report for the cutting department and the sewing department. what is the cost of one basic shirt?

Reviews

Write a Review

Financial Accounting Questions & Answers

  You are an accountant for the lanthier company the

you are an accountant for the lanthier company. the president of the company calls you into the office and says ?owe

  What are the effects on the corporations taxable income

The corporation's accumulated earnings and profits at the beginning of the year was $600,000. In the current year the corporation had a $200,000 net loss from operations, which did not include the following transaction. At the end of the year the cor..

  Weighted-average method in its process costing system

The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 15,000 units; The ending work in process inventory is 100% complete with respect to materials and 70% comple..

  Prepare a process cost report for january

The FiFO costing method,prepare a process cost report for january - Flash had been completed and transferred to the finished goods inventory (1 Pound of input equals 1 pound of output).

  Multiple choice questions on accounts basics1the

multiple choice questions on accounts basics.1.the relationship between current assets and current liabilities isa.

  What is the payback period for the new machine

A company is considering purchasing a machine for $24,000. The machine will generate an after-tax net income of $2,600 per year. Annual depreciation expense would be $2,100. What is the payback period for the new machine?

  Average cost per unit as a performance measure

What problems are related with using the average cost per unit as a performance measure and what problems are related with using the variable cost per unit as a performance measure?

  Elucidate how this strategy avoids double taxation

Elucidate how this strategy avoids double taxation, including examples of other shareholder-corporation transactions that could be used for such purpose. Also, discuss the possible pitfalls surrounding corporate payments to shareholders.

  What is the maximum loan that the company will need

What is the maximum loan that the company will need between January and June?

  Sawyer corporation issued 200000000 face value bonds on 1st

sawyer corporation issued 200000000 face value bonds on 1st july 2013. the bonds are a 20 year issue and carry a coupon

  Company''s book balance of cash

Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31. 2005.

  How do the various classifications of investments affect

How do the various classifications of investments affect financial statements? What is the rationale behind the different accounting methods for the various investment classifications?

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