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)
?
?
a. $34,100
b. $4,658
?
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Indicate whether the statement is true or false
Sea Rovers, Inc contracted to sell 1,000 pounds of shrimp to the Seafood Shack with delivery on June 1 . On May 1, Sea Rovers advised the Seafood Shack that it would not be able to deliver the shrimp. The Seafood Shack
a. can sue Sea Rovers immediately for breach of contract. b. must wait until June 1 to see if Sea Rovers will perform before suing for breach of contract. c. cannot sue Sea Rovers because Sea Rovers gave adequate notice. d. must wait until actual damages are determined before it can sue.
Given the following data about an assembly line and the knowledge that we are trying to attain an output rate of 40 units per hour, what is the theoretical minimum number of stations?
Work Element Time (sec) 1 90 2 80 3 75 4 70 5 90 6 85 A) four or fewer stations B) five stations C) six stations D) seven or more stations
Fact Pattern 15-1AMacro Marketing, Inc., and National Food Corporation (NFC) discuss the terms of a contract. Macro then faxes NFC a memo on Macro's letterhead that summarizes the items on which they agreed, including a two-year term. Macro begins to perform, but NFC refuses to pay. Macro files a suit to collect. NFC claims that there is no contract.Refer to Fact Pattern 15-1A. The transaction between Macro and NFC falls within the Statute of Frauds'
A. collateral-promise provision. B. one-year rule. C. sales-of-goods stipulation. D. secondary-contracts section.