7. Recognize cash flow from personal tax returns and other data APFS48. John and Mary Customer have submitted their current personal tax return that contains the following information on various forms and schedules: Wages Interest Sole proprietor income Capital losses Total tax Taxes withheld Sales proceeds Depreciation Wages Interest Sole proprietor income Capital losses Total tax Taxes withheld Sales proceeds Depreciation $130,000 6,000 10,500 2,000 14,000 14,600 $130,000 6,000 10,500 2,000 14,000 5,000 950 14,600 5,000 950 Based on the information provided, what is the couple's cash flow? A. $137,850 B. $136,450 C. $135,500 D. $130,850
7. Recognize cash flow from personal tax returns and other data APFS48. John and Mary Customer have submitted their current personal tax return that contains the following information on various forms and schedules: Wages Interest Sole proprietor income Capital losses Total tax Taxes withheld Sales proceeds Depreciation Wages Interest Sole proprietor income Capital losses Total tax Taxes withheld Sales proceeds Depreciation $130,000 6,000 10,500 2,000 14,000 14,600 $130,000 6,000 10,500 2,000 14,000 5,000 950 14,600 5,000 950 Based on the information provided, what is the couple's cash flow? A. $137,850 B. $136,450 C. $135,500 D. $130,850
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:7. Recognize cash flow from personal tax returns and other data
APFS4B. John and Mary Customer have submitted their current personal tax return that contains the
following information on various forms and schedules:
Wages
Interest
Sole proprietor income
Capital losses
Total tax
Taxes withheld
Sales proceeds
Depreciation
Wages
Interest
Sole proprietor income
Capital losses
Total tax
Taxes withheld
Sales proceeds
Depreciation
$130,000
6,000
10,500
2,000
14,000
14,600
5,000
950
$130,000
6,000
10,500
2,000
14,000
14,600
5,000
950
Based on the information provided, what is the couple's cash flow?
A. $137,850
B. $136,450
C. $135,500
D. $130,850
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