subject
Business, 13.10.2020 03:01 pingkeara

Marc and Michelle are married and earned salaries this year of $71,600 and $14,850, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $1,450 from corporate bonds. Marc contributed $3,450 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,450. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $7,900 of expenditures that qualify as itemized deductions and they had a total of $6,710 in federal income taxes withheld from their paychecks during the course of the year. (Use the tax rate schedules.)a. What is Marc and Michelle's gross income?Description AmountCorporate bond interest Marc's salary Michelle's salary Gross income b. What is Marc and Michele's adjusted gross income?

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 20:20
Jimmy owns an ice cream parlor. he designs a schedule for the different tasks the employees have to perform in order to prevent monotony at work. according to the schedule, if an employee makes waffle cones on a day, he serves ice creams the next day and clears the tables on the day after that. jimmy is using the approach at his ice cream parlor.
Answers: 2
question
Business, 22.06.2019 03:30
Acrosswalk_when there are no pavement markings.
Answers: 1
question
Business, 22.06.2019 03:30
Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks
Answers: 2
question
Business, 22.06.2019 08:30
An employer who is considering hiring eva has asked donna, eva’s former supervisor, for a report on eva. in truth, eva’s work for donna has been only average. however, eva is donna’s friend, and donna knows that eva probably will not get the job if she says anything negative about eva, and donna knows that eva desperately needs the job. further, donna knows that if the situation were reversed, she would not want eva to mention her deficiencies. nevertheless, it has been donna’s policy to reveal the deficiencies of employees when she has been asked for references by employers, and she knows that some of eva’s faults may be bothersome to this particular employer. finally, this employer has leveled with donna in the past when donna has asked for a report on people who have worked for him. should donna reveal deficiencies in eva’s past performance? (remember to use one of the three moral theories acceptable for this test to solve this dilemma. any discussion of any personal opinion, religious perspective, or theory other than the moral theories acceptable for this test will result in a score of "0" for this question.)
Answers: 1
You know the right answer?
Marc and Michelle are married and earned salaries this year of $71,600 and $14,850, respectively. In...
Questions
question
Mathematics, 05.04.2021 15:00
question
Mathematics, 05.04.2021 15:00
question
Mathematics, 05.04.2021 15:00
question
Computers and Technology, 05.04.2021 15:10
question
Mathematics, 05.04.2021 15:10
question
History, 05.04.2021 15:10