Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 16, 2024

corrine is filing as head of household and has 2020 taxable income of $35000 which includes $23000 of 5%15% gain.what is the tax on her

corrine is filing as head of household and has 2020 taxable income of $35000 which includes $23000 of 5%15% gain.what is the tax on her taxable income using the alternative tax method?

A$1750

B3918

C4200

D 2350

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Accounting Volume 1 Financial Accounting

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

1st Edition

1593995946, 978-1593995942

More Books

Students also viewed these Accounting questions

Question

★★★★★

Describe the Toyota method for problem solving.

Answered: 1 week ago

Question

★★★★★

Apply variation of normal costing

Answered: 1 week ago

Question

★★★★★

The daily orders for a particular product at a factory, in hundreds of kilograms, are represented by a random variable X having density function f (x) = { a(x 1)2, 0 x 6, 0, elsewhere. (i) Obtain...

Answered: 1 week ago

Question

★★★★★

The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Additional data obtained from the income statement and from an examination of the accounts...

Answered: 1 week ago

Question

★★★★★

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units Units Unit...

Answered: 1 week ago

Question

★★★★★

Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 Inventory 3,800 Other Liabilities 1,000 Property Plant &...

Answered: 1 week ago

Question

★★★★★

Mike was the policy owner and life insured of a 20-year term life insurance policy, with a $500,000 face value, on which he had named his spouse, Rachel, as the beneficiary. Unfortunately, Mike was...

Answered: 1 week ago

Question

★★★★★

sheridan co issued 700,000 of 5-year,6% bonds at 96 on Jan 1 2027. the bonds pay interest annually. compute the total cost of borrowing for these bonds compute the total cost of borrowing for these...

Answered: 1 week ago

Question

★★★★★

Endor Company begins the year with $180,000 of goods in inventory. At year-end, the amount in inventory has increased to $197,000. Cost of goods sold for the year is $1,300,000. Compute Endor's...

Answered: 1 week ago

Question

★★★★★

The Finishing Department of the Maherajah Competition Water Ski Company has the following production and cost data for May 2022: 1. Transferred out: 2,155 water skis. 2. Ending work in process: 625...

Answered: 1 week ago

Question

★★★★★

Using technology, it was determined that the total sum of squares (SST) was 819.2, the sum of squares regression (SSR) was 794.19, and the sum of squares due to error (SSE) was 25.013. Calculate R2...

Answered: 1 week ago

Question

★★★★★

Is the style consistent?

Answered: 1 week ago

Question

★★★★★

Does your strategic intent play to your strengths?

Answered: 1 week ago

Question

★★★★★

Can you find a way to avoid confirmation bias as you analyse the data?

Answered: 1 week ago

Previous Question Next Question