General Account - Dorothy Fonda is an unmarried head ofhousehold with the following income for the year: Wages,$34,500; Bank interest, $275; Municipal bond interest, $115;Lottery prize, $325; Gift from her father, $5,000. Dorothycontributed $1,250 to her traditional IRA, which she willdeduct. Compute her AGI.a. $33,250.00b. $33,575.00c. $33,850.00d. $33,965.00

Municipal Bond Interest and Gift from the father are not taxable, thus not included in the…

Answered: General Account - Dorothy Fonda is an…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxation Of Trusts And Estates

Section: Chapter Questions

Problem 6BCRQ

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Case Study for Harry and Belinda Johnson. Given: Harry Johnson - Annual Income $73,000.00 contributed to a traditional IRA $3,000.00 Belinda Johnson - Annual Income $94,000.00 contribued to 401(k) $3,000.00 Earned Interst - checking & savings $400.00 Earned Interst -Trust (taxed same as check & sav) $3,000.00 1. What is the total value of their exemptions? 2. How much is the standard deduction for the Johnsons?
Diana Rene’s deposited an inheritance of 13,050 in a bank account and earned 435 in Simple bankers interest at a rate of 10.5% find the length of time the money was on deposit
Subject - account Please help me. Thankyou.
Subject - General Account
1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this amount, he deposits 5% of the remaining amount into a money market account earning 2%. If Cameron's monthly earnings are $4,800 what amount interest will he earn on his deposit each month? 2. Find the maturity value for a loan on $4,225 at 8% made on March 5 and due on May 5 of the same year. Assume a 365-day year. 3. Republic Bank advertises their interest rates at 7 % %. You decide to apply for a loan in the amount of $9,000 for 90 days. The bank grants your loan and the loan officer tells you that there is a document preparation fee of $150 that needs to be paid at the time you sign the documents for the loan. Find the APR. Assume a 360-day year. 4. You took out a loan of $5,000 on May 2 and went back on June 15 to make a payment of $1,200. The loan was at 4% for 1 year. What was your remaining balance after making that payment?
Using the following information about the family’s assets and liabilities, calculate the total assets: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility bill: $500 Home: $320,000 Mortgage (30 years): $210,000 Car: $25,000 Car loan (60 months): $18,000 Student loan (7 years): $25,000 Household items: $15,000 Retirement account: $64,000 Other assets: $39,000 A) 464,000 B) 400,000 C) 415,000 D) 479,000
Jessica no one deposited an inheritance of 13,500 in a bank and earned 450.00 in Simple bankers interest at a rate of 5.5%. Find the length of time the money was on deposit?
please solve account general questions
Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the interest is earned, she leaves it in her account. At the end of the third year, what is her balance? a. $1,030.00 b. $1,090.00 c. $1,095.95 d. $1,092.73
A young man is the beneficiary of a trust fund established for him 16 years ago at his birth. If the original amount placed in trust was $50,000, how much will he receive if the money has earned interest at the rate of 9/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.) compounded annually $198.515 29 compounded quarterly $ compounded monthly $
5. On June 1, Bertha Hammond deposited $545 in a savings account at Metro Sav- ings and Loan Association. At the end of November her interest was computed at an annual interest rate of 7%. How much simple interest did Bertha's money earn? 6. Jasper Brown deposited $743 20 in a savi pany on MayWAt the end O 7 % How much simple interest did dasper s money earn? the Suburban Trust Com- annual rate of
Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31, Mia invested $1,300 in a three-month CD that pays 2.81%. At the end of the year, how much i interest will Mia have eamed, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is $. (Round to the nearest cent)

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