Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

John, a single taxpayer, had 2013 wages of $75,000 from his job at Big Company, Inc. What is John's AGI if he has the following (and only the following) additional items in 2013?

• Itemized deductions of $12,000

• Exemption amount of $3,900

• Alimony of $10,000 received by John (from his former spouse, Natalia)

• Business income of $5,000 from John's sole proprietorship

Ignore any deduction that may relate to self-employment taxes.

a. $75,000

b. $80,000

c. $85,000

d. $90,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M938801

Have any Question? 


Related Questions in Accounting Basics

Vaughn company reports the following financial information

Vaughn Company reports the following financial information before adjustments.   Dr. Cr. Accounts Receivable $155,400 Allowance for Doubtful Accounts   $3,890 Sales Revenue (all on credit)   800,700 Sales Returns and All ...

Bubbles hot tubsbubbles hot tubs are a business that

Bubbles Hot Tubs Bubbles Hot Tubs are a business that manufactures and sells hot tubs to the UK market. At present the business manufactures three different types of hot tubs: The selling prices for each of the hot tubs ...

Assignmentbackgroundyou are an audit senior for burns amp

Assignment Background You are an audit senior for Burns & Allen, LLP. One of the audit partners received a call from Brenda Parker, CFO of a publicly traded client, Toys For U ("Toys"). Toys is a retailer with 25 locatio ...

To understand the accounting equation and its

To understand the accounting equation and its elements QUESTION Mr. "A" starts a new business. Before to start the business operation, he has purchased vehicle Rs. 1,500,000, office premises Rs. 3,000,000, stock of goods ...

1 you are the manager of a payroll system your company is

1. You are the manager of a payroll system. Your company is going to replace the legacy payroll system with a more robust, Web-based version. Suggest two approaches that would minimize downtime and interruption to the pa ...

Please see the list of stock from a virtual game that

Please see the list of stock from a virtual game that student invested during the period Sep 2016- Dec 2016. The returns are shown as well. Please use this information to write a report 2-4 pages about the project. Your ...

Incorporation of plummet companyplummet company is created

Incorporation of Plummet Company Plummet Company is created with the following asset contributions. John and Jill are equal owners in this new business venture. Shareholder Assets Basis Fair Market Value John Cash Servic ...

Assignmentexercise 1 treatment of nsf checkthe bank

Assignment Exercise 1 Treatment Of NSF check The bank statement of Stone Supplies included a $300 NSF check that one of Stone's customer had written to pay for services that were provided by Stone. Required a. Show the e ...

Discussionsustainable income and ratio analysis please

Discussion "Sustainable Income and Ratio Analysis" Please respond to the following: • Describe sustainable income and the importance of sustainable income in the evaluation of the income statement. Choose at least two it ...

1 prepare an answer to management application ma 13-31

1. Prepare an answer to Management Application MA 13-31, which can be found on page 13-24 of your text (the question concerns ExxonMobil). 2. Oregon Manufacturing had the following data for the past three months.   Janua ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen