What factors should mary consider in making his decision

Assignment Help Accounting Basics
Reference no: EM131786473

Problem

Provide supplemental information and calculations.

1. Susan Beale is a single mother with two children ages three and six. She pays a total of $7,000 each year to a neighbor to care for her children while she works. Her employer reimburses $4,000 of this amount. Before considering the child care payments and reimbursement, her adjusted gross income is $44,000, and her taxable income is $36,000. Assuming that Susan files as a head of household, how should she report the child care payments and any allowable child care credit?

2. Mary Giles participates in a flexible spending account (FSA) arrangement with her employer. She has a choice of receiving $2,000 of child care assistance of $2,000 of health cost reimbursements. Mary's adjusted gross income is approximately $80,000. What factors should Mary consider in making his decision?

Reference no: EM131786473

Questions Cloud

Determine the percentage of mice : Determine the percentage of mice that developed tumors from each group (LL and LD). Compare them and comment.
What is the role of financial conduct authority : What is the role of Financial Conduct Authority (FCA) in the UK Financial institutions? Using appropriate examples assess the FCA's effectiveness
What is the amount of samuel inc net accounts receivable : Samuel, Inc. has Accounts Receivable of $240,000 and an Allowance for Doubtful Accounts of $14,000. What is the amount of its net accounts receivable?
Mean height of women in a country : The mean height of women in a country (ages 20-29) is 64.3 inches. A random sample of 70 women in this age group is selected.
What factors should mary consider in making his decision : Mary Giles participates in a flexible spending account (FSA) arrangement with her employer. What factors should Mary consider in making his decision?
Account balance for local customers : Find an appropriate (t or z) 95% confidence interval for the true mean checking account balance for local customers.
Compute the following tax consequences to usa corp : Compute the following tax consequences to USA Corp as a result of the dividend from Quebec Corporation
Was the study a controlled experiment or an observational : Assuming that the study was properly conducted, can we conclude that the early surgery caused the improvements? Explain.
Normally distributed with a standard deviation : Suppose that the incubation times are approximately normally distributed with a standard deviation of 1 day

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a journal entries to record the transaction

Emmylou Company purchased 70 Harris Company 12%, 10 year. Prepare a journal entries to record the transaction described above.

  Prepare the journal entries to record the transactions

Wahlberg Computers sells computers for $2,500 each on account. Prepare the journal entries to record the transactions above. Omit explanations

  Explain a supply chain linkage

Explain a supply chain linkage and give an example.

  Compute the amounts and ratios as of the beginning of year

Denna Company's working capital accounts at the beginning of the year follow: Compute the following amounts and ratios as of the beginning of the year

  Keller company estimates that variable costs will be 60 of

keller company estimates that variable costs will be 60 of sales and fixed costs will total 1920000. the selling price

  How much was paid to suppliers in the month of february

Ann sell sports kit10% of sales are cash transaction and the remainder is on an month's credit. How much was paid to suppliers in the month of February2002.

  Analyze how accounting policies are defined in literature

Analyze how accounting policies are defined in the literature. Determine how the authoritative literature addresses comprehensive income

  How much total interest will concord pay

With the first payment due one year after the purchase. How much total interest will Concord pay on this payment plan

  2012 april 20 purchased 40250 of merchandise on credit from

tyrell co. entered into the following transactions involving short-term liabilities in 2012 and 2013.2012 april 20

  What is the taxable equivalent yield on a municipal bond

What's the taxable equivalent yield on a municipal bond with a yield to maturity of 4.2 percent for an investor in the 25 percent marginal tax bracket

  Calculate the value to be assigned to the bonds

Love & Co. issues bonds with a face value of $50,000 for $51,000. Each $1,000 bond carries 10 warrants, and each warrant allows the holder to acquire one share of $1 par common stock for $40 per share.

  Chabud corporation uses the weighted-average method in its

chabud corporation uses the weighted-average method in its process costing system. this month the beginning inventory

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