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Problem - Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information is as follows:
State income taxes paid $2,000
Mortgage interest on her personal residence 9,000
Points paid on purchase of her personal residence 1,000
Deductible contributions to her IRA 3,000
Uninsured realized casualty loss (in a Federal disaster area) 6,000
Tax preparation fees for her prior year income tax return 400
Required - What amount may Jordan claim as itemized deductions on her current-year income tax return?
a. $12,000
b. $12,900
c. $13,300
d. $15,900
What is the days sales outstanding? Round your answer to one decimal place. What is the average amount of receivables? Round your answer to the nearest dollar.
assume there were 6000 units in beginning work in process 60 complete 20000 units were completed during the month.
Chase and Olivia Ellison have a home with an appraised value of $180,000 and a mortgage balance of only $90,000. Given that an S&L is willing to lend money at a loan-to-value ratio of 75 percent, how big a home equity credit line can Chase and Oli..
On January 13 2005 Peploski Shoes was destroyed by fire. Inventory at Jan 1/05 $150,000.00. Calculate the cost of inventory destroyed by fire
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Columbia Sportswear Company acquired a trademark that is helpful in distinguishing one of its new products.
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