What effect would ira contribution have on julie

Assignment Help Financial Accounting
Reference no: EM13140356

Julie is a student and earns $9000 working part-time at the college ice cream shop in 2011. she has no other income. her medical expenses for the year totaled $2,700.During the year, she suffered a casualty loss of $3,500 when her apartment hurned. Julie contributed $1,950 to her church. Onthe advice of her parents, Julie is trying to decide whether to contribute $1,000 to the traditional IRA her parents have set up for her. what effect would the IRA contribution have on Julie's itemized deductions?

Reference no: EM13140356

Questions Cloud

Find the molar mass of sample : a sample of a gas has a mass og 0.311g. its volume is 0.225 L at a temperature of 55 degrees C and a pressure of 886 mmHg. find its molar mass
Find onfidence interval estimate of the population mean : Find the 90% confidence interval estimate of the population mean. Interpret the interval estimate. 79 43 58 66 101 63 79 33 58 71 60 101 74 55 88.
Straight-line method used to amortizing bond discount : Upton Company issues $3 million, 10-year, 6% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount.
What is the pressure of n2 : N2 is .070 moles, O2 is 0.35 moles and CO2 is 0.20 moles, the total is pressure 1.55 atm what is the pressure of N2?
What effect would ira contribution have on julie : Julie is trying to decide whether to contribute $1,000 to the traditional IRA her parents have set up for her. what effect would IRA contribution have on Julie's itemized deductions?
What percentage of students score more than other student : Mean of 950 and a standard deviation of 200. nancy bright's sat score was 1390. what percentage of students have scores more than nancy bright?
Explain legacy correspondent hosts and legacy applications : Mobile IP was intended to work with legacy correspondent hosts and legacy applications. However, some advantages may be gained if correspondent hosts are aware of mobility in certain ways.
How much is the amount of gross profit for year : If the cost of goods manufactured during the year amounted to $665,000 and annual sales were $998,000, how much is the amount of gross profit for the year?
What is the density of the liquid : a 26.0 ml sample of a liquid was found to have a mass of 13.0g. what is the density of the liquid?

Reviews

Write a Review

Financial Accounting Questions & Answers

  How many shares will you receive when you invest

The aBC Class A share mutual fund has a NAV of 35.64 and an offer/purchase of 37.81. How many shares will you receive when you invest 10,000?

  Explain how much will linda include in her taxable income

Ppaid $25,000 in premiums on a 20-year endowment policy on her life. The policy has a face value of $40,000. At age 60, Linda decides to collect the face value of the policy. In the year of collection, explain how much will Linda include in her ta..

  Prepare the september 9 entry to establish the fund

Prepare the September 9 entry to establish the fund and (2) the September30 entry to both reimburse the fund and reduce it to $300.

  Evaluate the product cost

Calculation of product cost of providing one evening of instruction - Evaluate the product cost of providing one evening of instruction for all students?

  Create journal entries for each situation

Limon Company uses the chart of accounts shown below. Use the numbers preceding each title to create journal entries for each situation.

  Analyzing the strength and weakness from ratios

Analyzing The Strength and weakness from Ratios and  What would you learn from examining the incomestatement for the year ended 2008

  How much money will there be in an account at the end

How much money will there be in an account at the end of eight years, if $20,000 is deposited at 6% compounded monthly?

  Create a memo identifying as to which of the two entity

Create a memo identifying as to which of the two (2) entity forms that Clara and Larry should select (considering both Tax and Nontax Factors).

  Provide specific examples of accounting information

Provide specific examples of accounting information that might be useful in assessing Michael Porter's cost leadership competitive strategy.

  What would your suggestion be in regards to percentage

Essentially, once they contribute to the 401(k), their obligations end. As CFO, what would your suggestion be in regards to the percentage the company contributes to the 401(k) plan?

  The current assets of most companies

Descriptive Questions-Basic Accounting Principle like Advance payments from customers for future services and the current assets of most companies.

  Show the flexible budget and variance analysis

As sales manager, Terry Dewitt was given the following static budget report for selling expenses in the Clothing Department of Garber Company for the month of October.

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