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Which of the following is correct about the total income recognized on his 2022 tax return? Cash basis $200 , 000 ; Accrual basis $210
Which of the following is correct about the total income recognized on his 2022 tax return? Cash basis $200 , 000 ; Accrual basis $210 , 000 Cash basis $210 , 000 ; Accrual basis $200 , 000 Cash basis $170 , 000 ; Accrual basis $160 , 000 Cash basis $200 , 000 ; Accrual basis $225 , 000 QUESTION 2 10 points (Extra Credit) a. Show the calculation of their 2022 Federal income tax. b. Show the calculation of any available child tax credits and depedent tax credits. You can ignore any income phaseout for the credits. c. What is their net tax due after the credits? d. What is their average or effective tax rate based on the net tax due in part c? e. What is their marginal tax rate? Which of the following is correct about the total income recognized on his 2022 tax return? Cash basis $200 , 000 ; Accrual basis $210 , 000 Cash basis $210 , 000 ; Accrual basis $200 , 000 Cash basis $170 , 000 ; Accrual basis $160 , 000 Cash basis $200 , 000 ; Accrual basis $225 , 000 QUESTION 2 10 points (Extra Credit) a. Show the calculation of their 2022 Federal income tax. b. Show the calculation of any available child tax credits and depedent tax credits. You can ignore any income phaseout for the credits. c. What is their net tax due after the credits? d. What is their average or effective tax rate based on the net tax due in part c? e. What is their marginal tax rate
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