Arabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $55,000 as a sales representative forPlanning Associates; $3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction. Calculate her taxable income, tax liability, and tax refund or taxowed for 2018.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Arabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $55,000 as a sales representative for
Planning Associates; $3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction. Calculate her taxable income, tax liability, and tax refund or tax
owed for 2018.

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