Which addition adjustment to federal income for california

Assignment Help Financial Accounting
Reference no: EM132898713

Question 1: In 2019, Ursula filed a federal return showing: $30,000 wage income, $250 educator expense deduction, $3,500 California unemployment compensation, and$320 California tax refund from 2018. Which one of the following is an addition adjustment to federal income for California tax purposes?

a) $30,000 wage income.
b) $250 educator expense deduction.
c) $3,500 unemployment compensation.
d) $320 California tax refund.

Reference no: EM132898713

Questions Cloud

What is the total interest and fees have paid on the loan : If you immediately take down $830,000 and no more during the year, what is the total interest and fees you have paid on this loan commitment?
How many bonds will home improvement need to sell in order : Home Improvement, Inc. needs to raise $3.70 million. How many bonds will Home Improvement need to sell in order to receive the $3.70 million they need?
Prepare the journal entry on abc books for each transaction : Prepare the journal entry on ABC's books for each transaction. The three initial owners each invested $100,000 cash and each received 10,000 shares.
Determine liability on customer loyalty program on december : Determine the liability on customer loyalty program on December 31,2021. During year 2022, LOYAL Corp. had product sales for P120 million and 50% of the points.
Which addition adjustment to federal income for california : Which is an addition adjustment to federal income for California tax purposes? Ursula filed a federal return showing: $30,000 wage income, $250 educator expense
Review of the movie through the leadership lens : Critically analyze the story, events, and characters from a leadership perspective. This analysis should draw from the lessons and readings in the course
Which of the total receivables will remain unchanged : An entity has 25% investment in ordinary share and 20% investment in preference share over the investee. Which of the following is TRUE?
Which is not correct regarding trading securities : Which Purchases of merchandise inventories are always recorded net of? Which of the following is NOT correct regarding trading securities?
Prepare the journal entries in the books of the partnership : Prepare the journal entries in the books of the partnership. M and N are partners with capitals of P75,000.00 and P60,000.00 respectively.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare the journal entries to record appropriate payment

Prepare the journal entries to record the appropriate payment if the entire invoice is paid on June 18, 2021 and July 8, 2021

  Required under generally accepted auditing standards

Explain briefly (a) written representations, (b) internal control communications, and (c) management letters. In your answer, include the general content of the communication, the parties involved with the communication, the required form of the comm..

  Under the GAAP conservatism principle

Under the GAAP conservatism principle which of the following statements is true. A company should understate their income if they have an opportunity to do so. When a company has a choice regarding recording a transction or event, they should choose ..

  Determine the estimated total cost and cost per unit

Determine the estimated total cost and cost per unit of each product, assuming that salesperson is able to sell 90 units of EZRecords and 57 units of ProOffice

  Cost of goods sold and net income-ending retained earnings

It is discovered in 2014 that ending inventory in 2012 was understated.What is the effect of the understatement on the following: 2012: Cost of Goods Sold, Net Income, and Ending Retained Earnings

  Compute mycos basic earnings per share for the year ended

Compute Myco ‘s basic earnings per share for the year ended December 31, 2013. Compute Myco's diluted earnings per share for the year ended December 31, 2013.

  Calculate the tax liability on the assets

During 2002, a firm has sold 5 assets described below. Calculate the tax liability on the assets. The firm pays a 40 percent tax rate on ordinary income.

  Compute the price of the bond if the required return on bond

To finance a new line of product,Compute the price of the bond if the required return on the bond is 10% and interest is paid semi-annually.

  Method for cost recovery

He elects the straight-line method for cost recovery. Andre does not elect immediate expanding under 179. He does not claim any available additional first-year depreciation.

  Calculate the present value of the corporate bonds

a. Calculate the present value of the corporate bonds if rates increase by 2 percentage points. b. Calculate the gain or loss on the corporate bond position.

  Average cost procedure for both materials and conversion

ABC Company has a three-stage production cycle. The following data are available for the cutting department for November: Materials are added at the beginning of the process in the cutting department. What are the equivalent units under the average c..

  Prepare pearl journal entries to record the sale on july

Prepare Pearl's journal entries to record the sale on July 10, 2020. (Credit account titles are automatically indented when the amount is entered.)

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