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

Author Question: A property has an assessed value of 80 of its fair market value. If you were writing an Excel ... (Read 121 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jun 24, 2018
A property has an assessed value of 80 of its fair market value. If you were writing an Excel formula to calculate the assessed value of the property, what value would be used to multiply by the fair market value?
 A) 8
  B) 80
  C) 0.8
  D) 0.08

Question 2

Janet and Pat McGuire are married and file a 1040 jointly. Janet earns 28,000 and Pat earns 18,500 for the year. They have two children. They have earned interest income of 240. Janet contributed 2,000 to her IRA and Pat contributed 1,500 to his. Their itemized deductions are 3,750 in medical and dental expenses, 4,500 in real estate taxes, 7,480 in home mortgage interest, 1,000 in student loan interest, 1,100 in personal property taxes, and 675 in charitable contributions. Together, they had 3,200 withheld for taxes. Use a tax table. Which is true about how much Janet and Pat either owe in taxes or have due as a refund?
 A) owe 1,802
  B) refund of 1,802
  C) owe 1,521
  D) refund of 1,521


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

B


vinney12

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 24, 2018
Correct answers!


kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Self-sealing property Self-sealing property
Writing and the Ventral Premotor Cortex Writing and the Ventral Premotor Cortex
Reading and Writing Disorders Produced by Brain Damage Reading and Writing Disorders Produced by Brain Damage
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Basic Marketing Research: Using Microsoft Excel Data Analysis Basic Marketing Research: Using Microsoft Excel Data Analysis
Iraqi market Iraqi market
Video: ACTH/Cortisol (glycogenolysis, protein catabolism, lipolysis and gluconeogenesis)

For a complete list of videos, visit our video library