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I need help with the following 5 questions... please help i have limited time..see attachment below.. Questions 13-18 13. (TCO 3) Describe the formula for

I need help with the following 5 questions... please help i have limited time..see attachment below..

image text in transcribed Questions 13-18 13. (TCO 3) Describe the formula for computing individual taxable income. Why do you think this formula is so much more complicated than the formula for computing corporate taxable income? 14. (TCO 1) How would you describe the three sources of tax law and the importance of each? Which source do you think is the most important? 15. (TCO 1) Explain the relationship between tax base and tax rate in determining the revenue collected by the government. Give an example of how a particular tax would fit into the various components of the equation. 16. (TCO 9) D Trucking uses the accrual method of accounting. Below is a reconciliation of D Trucking's allowance for bad debts for the current year. Beginning allowance for bad debts $61,150 Actual write-offs of accounts receivable during the year (80,000) Addition to allowance 88,500 Ending allowance for bad debts $69,650 Considering the difference between the GAAP and the tax rules for accounting for bad debts, calculate D Trucking's temporary excess of taxable income over book income. 17. (TCO 4) Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation. As part of her employment contract, Mrs. Adams received a $10,000 moving allowance. What is the effect of this $10,000 cash receipt on the couple's AGI assuming the following? Their deductible moving expenses totaled Their deductible moving expenses totaled $8,000. $11,000 Questions 13-18 18. (TCO 8) During the audit of Mr. and Mrs. Greenwood's income tax return, the revenue agent concluded that the couple had claimed a $26,300 deduction that was not allowed by law. The improper deduction reduced the couple's tax by $19,205. The Greenwood's total tax deficiency was $13,890. Compute the penalty that the IRS agent can impose if the agent concludes that the improper deduction was attributable to negligence. Compute the penalty that the IRS agent can impose if the agent concludes that the improper deduction was attributable to fraud

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