What is justin adjusted gross income

Assignment Help Accounting Basics
Reference no: EM132026950

Question - Justin Peter earned a salary of $30,000 during 2014. During the year, he was required by his employer to take several overnight business trips, and he received an expense allowance of $1,500 for travel and lodging. In the course of these trips, he incurred the following expenses which were either adjustments to income or deductions from adjusted gross income.

Travel - $1,100

Lodging - 500

Entertainment of customers - 400

What is Justin's adjusted gross income if he does not account to his employer for the expenses?

A. $29,900

B. $31,500

C. $30,000

D. $29,500

Reference no: EM132026950

Questions Cloud

What is the adjusted wacc for comida corp : Comida corp. is a grocery store located in the midwest. What is the adjusted WACC for Comida Corp. if the corporate tax rate is 20%?
Develop a swott table summarizing your findings : Students gain experience conducting an internal and external environmental analysis for their proposed new division and its business model.
Discuss the awareness of individual learning styles : Discuss how the awareness of individual learning styles, preferences and strategies influence teaching (those who are in a position to teach) and learning.
Problems at a national and global level : What problems do you think a health system seems most crucial to you and what do you think about the possible solutions to these problems
What is justin adjusted gross income : Justin Peter earned a salary of $30,000 during 2014. What is Justin's adjusted gross income if he does not account to his employer for the expenses
Is free agency increases competitive balance : Is free agency increases competitive balance? Why or why not? Explain using Economic concepts.
Marginal social benefit of peanut brittle in moldavia : A new report from the Moldavian finance minister finds that peanut brittle consumption raises dental insurance costs throughout the country.
Compute juan gross income : Juan has only applied the gift card to purchase $100 of clothing. Compute Juan's gross income assuming that he uses the cash basis of accounting
How much money will you pay after three years : Find the interest paid on a loan of $1,200 for three years at a simple interest rate of 5% per year. How much money will you pay after three years?

Reviews

Write a Review

Accounting Basics Questions & Answers

  The electric utilities are govt owned and operated due to

scenario company a is a us company with a subsidiary located in country z where various forms of bribery are accepted

  Determine the hierarchy level for each cost pool

Based on this information, determine the hierarchy level for each cost pool and an appropriate allocation base for each pool

  How many items of your product will you need to produce

How many items of your product will you need to produce to meet this sale price? How did you calculate this?

  Osawa inc planned and actually produced 200000 units of

osawa inc. planned and actually produced 200000 units of product in 2012 its first year of operations. variable

  Provide an analysis of liabilities

What this was intended to say was that you should provide an analysis of liabilities, and that analysis / discussion should be at a minimum of 525 words.

  Calculate cash flows from operations using indirect method

Calculate cash flows from operations using the indirect method

  Adjusted the accounting records to reflect the estimate

Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the service revenue on account.

  Determine the spending variances and the efficiency variance

Determine the spending variances (both variable and fixed), the efficiency variance, and the fixed overhead production volume variance.

  What is the minimum selling price on the special order

Fixed costs for the period were: Cost of goods sold $1,080,000, What is the minimum selling price on the special order to produce net income of $4.09 per ball

  Cash on the maturity date of loan

Classic Corporation borrowed $90,000 from the bank on November 1, 2011. The note had an 8 percent annual rate of interest and matured on April 30, 2012. Interest and principal were paid in cash on the maturity date.

  What is tax research

What is tax research? What is the purpose of conducting tax research? Are results of tax research conclusive? Explain your response

  What amount of the contribution is deductible

What amount of the contribution is deductible? In what year is it deductible? Which of the expenditures listed above, if any, are deductible by Brandy?

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