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calculate martha's agi:   salary, $90,000 unemployment, 3,000 contribution to IRA, 3,000 hobby income, 4,500 gambling winnings, 1,500 hobby supplies, 5,000 cash (cafeteria plan) 4,000 gambling losses 500 state income tax paid, 6,000   related to business: advertising, 2,500 charity contribution, 1,200 parking ticket paid by business, 200 revenue, 30,000 1/2 tax (self employment) 5,600 supplies for business, 8,000 sub contractors, 10,000   use 2020 tax information

calculate martha's agi:   salary, $90,000 unemployment, 3,000 contribution to IRA, 3,000 hobby income, 4,500 gambling winnings, 1,500 hobby supplies, 5,000 cash (cafeteria plan) 4,000 gambling losses 500 state income tax paid, 6,000   related to business: advertising, 2,500 charity contribution, 1,200 parking ticket paid by business, 200 revenue, 30,000 1/2 tax (self employment) 5,600 supplies for business, 8,000 sub contractors, 10,000   use 2020 tax information

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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calculate martha's agi:

 
salary, $90,000
unemployment, 3,000
contribution to IRA, 3,000
hobby income, 4,500
gambling winnings, 1,500
hobby supplies, 5,000
cash (cafeteria plan) 4,000
gambling losses 500
state income tax paid, 6,000
 
related to business:
advertising, 2,500
charity contribution, 1,200
parking ticket paid by business, 200
revenue, 30,000
1/2 tax (self employment) 5,600
supplies for business, 8,000
sub contractors, 10,000
 
use 2020 tax information
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