compute the following

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Your uncle visited you on the last holiday you had a conversation over dinner with him on how much you have learned at ccri he was very impressed with you and in January he called to ask if you could help him file his taxes your uncle earned wages of 86,400 won 350,000 on a scratch ticket and contributed 50,000 to a tax deferred savings plan he is entitled to a personal exemption of 4050 and a standard deduction of 6300 the interest on his home mortgage was 9200 and he contributed 95,000 to charity now that you know this information your task is to compute the following gross income the adjusted gross income and taxable income base the taxable income on the greater of a standard deduction or an itemized deduction 

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