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I need help here to get documents on the GBS132 Exercise assignments please help. GBS132 Personal and Family Financial Security Lesson 3: Exercise 1. Denise
I need help here to get documents on the GBS132 Exercise assignments please help.
GBS132 Personal and Family Financial Security Lesson 3: Exercise 1. Denise Smith is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $45,000 as a sales assistant for Custom Business Solutions: $3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of $142. Estimate her taxable income, tax liability, and tax refund or tax owed. a. What is her taxable income and explain how you got the answer. b. What is her tax liability and explain how you got the answer. c. What is her tax refund or tax owed and explain how you got the answer. -----------------------------------------------------------------------Salary $33,500 Dividend 800 Gift from mother 500 Child support from ex-husband 3,600 Interest on savings account Rent 250 900 Loan from bank 2,000 Interest on state government bonds 300 ------------------------------------------------------------------------2. Virginia Newman received the items and amounts of income shown above during 2010. Calculate her (a) gross income and (b) that portion (dollar amount) of her income that is tax exempt. a. Calculate her gross income b. Calculate that portion (dollar amount) of her income that is tax exemptStep by Step Solution
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