12. (L03) Paula and Paul are California residents and live in Vacaville. Paula is a member of the U.S. Air Force. Paula's Air Force pay was $57,300. Paul had wages of $46,200. They received interest income of $750 from a bank in Colorado and dividends of $1,200 from a New Jersey corporation. How much of their income is subject to California income tax?
12. (L03) Paula and Paul are California residents and live in Vacaville. Paula is a member of the U.S. Air Force. Paula's Air Force pay was $57,300. Paul had wages of $46,200. They received interest income of $750 from a bank in Colorado and dividends of $1,200 from a New Jersey corporation. How much of their income is subject to California income tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![12. (L03) Paula and Paul are California
residents and live in Vacaville. Paula is a
member of the U.S. Air Force. Paula's Air Force
pay was $57,300. Paul had wages of $46,200.
They received interest income of $750 from a
bank in Colorado and dividends of $1,200 from
a New Jersey corporation. How much of their
income is subject to California income tax?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F094cb090-8af1-482d-b83f-b6c65cfe0f35%2F9237b775-69f4-4aca-8069-c32c0ac53220%2Frnq31yn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:12. (L03) Paula and Paul are California
residents and live in Vacaville. Paula is a
member of the U.S. Air Force. Paula's Air Force
pay was $57,300. Paul had wages of $46,200.
They received interest income of $750 from a
bank in Colorado and dividends of $1,200 from
a New Jersey corporation. How much of their
income is subject to California income tax?
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