Midterm review Excel

Question 9 Mary Am lives in Detroit, Michigan, USA. She commutes daily to Windsor, Ontario, Canada, where she is employed by GM Company of Canada Limited. She works 9 am to 5 pm, Monday through Friday. Which one of the following best indicates Carla's residency status for Canadian income tax purposes for 2023? A A full-time resident B) A deemed resident (sojourner) C A part year resident A non-resident Question 10 An auditor reviewing Sneaky Corporation discovered that $100,000 of corporate revenue was being deliberately recorded in the books as a debit to Bank and a credit to shareholders loan. Which of the following statements is true? ↓ A This transaction does not fit any of the above options B) This transaction is an example of tax evasion c) This transaction is an example of tax planning. (D) This transaction is an example of tax avoidance

34. A taxpayer is a US citizen who lived and work in France during the entire tax year all their income was earned outside the USA and consists of wages capital gain dividend interest is the following statement true about reporting income in this situation.   A. Generally all the all of the income needs to be reported to the United States. US residents are required to report their worldwide income   B. Only the passive income needs to be reported to United States since none of work was performed there.

24. A citizen of Canada moved to the United States on May 1st of 2022 and lived and worked in the United States the rest of the year is the following statement true and the situation.    A. End of the dual must apply for a social security number to work in the United States.    B. If the individual was issue a permanent residency card on June 1st 2022 they may be considered a US resident for tax purposes for 2022.

User During the 2023 income year, Lance McGuinness (a non-resident taxpayer) received the following income: Salary from employer for work performed in Australia $ 45,000 Salary from employer for work performed outside of Australia $105,000 Rent received from property in Hong Kong $ 20,000 Calculate Lance's Australian taxable income for 2023 Question 7Select one: A. $170,000 B. $65,000 C. $45,000 D. $ 150,000

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X, a non-resident citizen arrives in the Philippines on July 31, 2022 to reside here permanently after many years of living abroad. He had the following data in 2022:Gross income, foreign sources, January 1 to July 31, P500,000Gross income, Philippine sources, August 1 to December 31, P300,000Gross income, foreign sources, August 1 to December 31, P200,000How much of his gross income is subject to Philippine Income Tax?

Badges of trade are used to determine A. if an individual is UK resident or not B. whether or not a trade exists C. how much tax an individual should pay D. the age of a taxpayer 10. Unused pension allowance can be carried forward up to A. 1 year B. 3 years C. 2 years D. 6 years

Total income subject to Philippine income tax assuming Jasmine is a resident citizen Jasmine has the following items of income Philippines Abroad P100,000 50,000 Business income Professional fees Compensation income 400,000 Rent income Interest income P200,000 100,000 300,000 30,000 200,000 40,000 Your answer Total income subject to Philippine income tax assuming Jasmine is a domestic corporation Jasmine has the following items of income Philippines Abroad P100,000 50,000 Business income Professional fees Compensation income 400,000 Rent income Interest income P200,000 100,000 300,000 30,000 200,000 40,000 Your answer

Income Taxation: INDIVIDUAL INCOME TAXATION in the philippinesCan you show me the solution as to why Letter b. P 47, 500 is the answer?

Saved Help Save & Exit Submit Check my work Jorge and Anita, married taxpayers, earn $153,500 in taxable income and $43,500 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita earn an additional $103,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $103,500 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate % b. Marginal tax rate % 2:38 AM ENG 1/26/202

Hi expert please give me answer general accounting question