Author Question: Barbie and Jose are married and claim 2 exemptions. Last year Barbie earned 32,400 and Jose earned ... (Read 87 times)

Chelseaamend · **on:** Jun 24, 2018

Barbie and Jose are married and claim 2 exemptions. Last year Barbie earned 32,400 and Jose earned 28,600 in wages. Additional tax information for the year is as follows: Interest earned: 2,800; alimony paid: 5,900; contributions to IRA retirement fund: 2,300; state and local income taxes paid: 6,200; contributions to charity: 2,700. Find the taxable income if they file a joint return.
A) 39,100
B) 37,950
C) 35,300
D) 39,200

Question 2

The wholesale cost of a video game is 459.45. The original markup was 51 based on selling price. Find the final sale price after the following series of price changes: a markup of 24, a markup of 17, and a markdown of 10. (Round each selling price to the nearest cent)
A) 2,224.31
B) 510.45
C) 1,224.31
D) 1,259.73