James and Becky Harris are filing a joint tax return. Their ...

[Pineappleeh]

James and Becky Harris are filing a joint tax return. Their adjusted gross income for the last year was 85,940. Itemized deductions are 12,200, and they claim 4 exemptions. Together they had 1,155 tax withheld each month from their pay checks. a. What is their tax liability? (Use Exhibit 18-3 or 18-4 from your text) b. Are they entitled to a refund or do they owe additional taxes? How much?

Question 2

Beacon Electronics advertised a portable TV set on sale for 272.49 after a 35 markdown from the original price. What was the original price of the TV set? (Round to the nearest cent)

[Mholman93]

Answer to Question 1




a. 7,751
b. Refund, 6,109


Answer to Question 2

419.22

[Pineappleeh]

Thanks for the timely response, appreciate it

[shailee]

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