This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Fred Stearns is single and earned 48,200 as a graphic artist last year. He had the following ... (Read 84 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jun 24, 2018
Fred Stearns is single and earned 48,200 as a graphic artist last year. He had the following itemized deductions: 964 state and local taxes, 1,540 in mortgage interest and 360 in charitable deductions. He claims two exemptions. a. What is his taxable income? b. What is the amount of his tax liability? (Use Exhibit 18-3 or 18-4 from your text)

Question 2

A calculator that previously sold for 44.99 has been reduced to 37.34. What is the markdown percent? (Round to the nearest whole percent)


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

batool

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 24, 2018
Answer to Question 1




a. 34,100
b. 4,658


Answer to Question 2

17


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jun 24, 2018
Excellent

rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth
Artist's rendition of the view from a hypothetical airless planet orbiting Alpha Centauri A Artist's rendition of the view from a hypothetical airless planet orbiting Alpha Centauri A
Vasectomy. (a) Vas deferens is located within the spermatic cord on both sides. (b) A small incision Vasectomy. (a) Vas deferens is located within the spermatic cord on both sides. (b) A small incision
Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
Withdrawing Medication from Single-Dose or Multiple-Dose Vials Withdrawing Medication from Single-Dose or Multiple-Dose Vials
Example of a single-nucleotide polymorphism (SNP) Example of a single-nucleotide polymorphism (SNP)
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library