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Excel Online Structured Activity: Personal taxes Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: She received $85,000 in salary. . She received $12,500 of dividend income. . She received $4,900 of interest income on Home Depot bonds. . She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,700. • She received $12,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $6,300. • Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table 3.5. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet a. What is Mary's…

Questions:- General Account.

Excel Online Structured Activity: Personal taxes Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: -She received $108,000 in salary. -She received $17,500 of dividend income. -She received $7,000 of interest income on Home Depot bonds. -She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,200. -She received $11,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $5,700. -Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. $. What is her marginal tax rate? Round your answer to 1 decimal place. What is her average tax rate? Round your answer to 2…

GV is a small accounting firm supporting wealthy individuals in their preparation ofannual income tax statements. Every December, GV sends out a short survey to itscustomers, asking for the information required for preparing the tax statements. Basedon 50 years of experience, GV categorizes its cases into the following two groups:• Group 1 (new customers): 20 percent of cases• Group 2 (repeat customers): 80 percent of casesThis year, there are 50 income tax statements arriving each week.In order to prepare the income tax statement, GV has three resources.The activities are carried out by the following three persons:• An administrative support person who processes every tax statement.• A senior accountant (who is also the owner) who processes only tax statements fornew customers.• A junior accountant who only processes tax statements for repeat customers.What is the total demand rate for each of the three resources?

please get the correct answer for the questions a) and b)

General Accounting Question need help

1. Jonas Brown is employed as a mechanic in Country A. His emoluments is $40,000 per week . He receives a tax-free travelling allowance of $5,000 per week. Calculate his annual deductions assuming the following:a. The annual income tax threshold is $1,000,000 per year. b. Housing Contribution Rate 3% for the employer 2% for the employee. c. John contributes 10% per month to an approved pension scheme and his employer provides a matching contribution.d. National Insurance is 3% for the employer and 3% for the employee.e. The income tax rate is 25%. f. Number of weeks is 52

Managerial Accounting Taxation Problem #1 - Calculating Federal Income Tax & Refund/Payment Due John is a single taxpayer and has the following information for 2023: Income before deductions $120,000 Standard Deduction $ 13,850 Itemized Deduction $ 18,400 Federal Taxes Paid $ 17.100 Tax Credits $ 1,500 Required: 1. What is John's taxable income? 2. What is John's federal income taxes? 3. Does John owe money or get a refund? How much? 4. What is John's marginal tax rate? 5. What is John's average tax rate?

Questions of account

Hello tutor provide answer this financial accounting question

Suppose pre-tax earnings are $100,000.00 and the corporate tax rate is 42%. How much additional money can a business owner receive by declaring the earnings as personal income which is taxed at a rate of 31%? a. $11,000.00 b. $42,000.00 c. $31,000.00 d. $3,200.00

Subject: Accounting

Need answer the question

Ms. Cumacaliua is concurrently employed at Cumanan Corporation and Paatras Company. She received the following during the month: Cumanan 50,000 P Paatras 40,000 Professional fees P Less: 6,000 12,000 Creditable withholding tax Loan repayment SSS, PhilHealth, HDMF Net pay 7,000 3.000 40.000 P P. 22,000 ist Compute the amount subject to business tax. c. P 77,000 d. P 90,000 a. PO Her b. P 62,000 combare tue smonur

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K Andy Palermo is a commission salesperson with a base salary of $98,000. In 2023, he earns commissions of $16,900. Of this amount he rece travel. He incurs the following expenses: Meals and Entertainment with clients 22,700 11,900 Hotel and airline tickets What is the amount of Andy's maximum deduction for these expenses in determining his 2023 employment income? A. $9,400 B. $11,900 OC. $34,600 D. $16,900 E. $23,250 $

Your client A1 Services Ply Ltd has 10 employees and has approached you for advice on the following transactions: a) Payment to an employee for an estimated cost of electricity used in his home workshop. The total amount paid during the Fringe Benefits Tax (FBT) year is $450. b) Loan to an employee at 1% interest. The employee used the loan as a deposit to buy a holiday home with the intention of renting it out. A loan of $45,000 was provided on the 1st of April 2023. c) Payment of an employee's medical bills for a recent heart scare. The total amount paid during the FBT year is $3,500. d) $150 gift card to all employees as a Christmas present e) Payment of Christmas party for all employees to attend, total cost $2,500 Additional Information Refresh the assessment to view updated details after you submit an attempt. I REQUIRED: Advise A1 Services Pty Ltd which of the above items will be subject to Fringe Benefits Tax and determine the taxable value of the benefit provided. Provide…