George and Wanda received $29300 of Social Security benefits this year ($11,000 for George: $18.300 for Wanda). They also received $4,800 of interest from jointly owned City of Ranburne Bonds and dividend income. What amount of the Social Security benefits must George and Wanda include in their gross income under the following independent situations? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. Required: a. George and Wanda file married joint and receive $8.750 of dividend income from stocks owned by George b. George and Wanda file married separate and receive $8,750 of dividend income from stocks owned by George c. George and Wands file married joint and receive $32.200 of dividend income from stocks owned by George d. George and Wanda file married joint and receive $16,100.of dividend income from stocks owned by George Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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George and Wanda received $29,100 of Social Security benefits this year ($11,000 for George, $18.300 for Wanda). They also received
$4,800 of interest from jointly owned City of Ranburne Bonds and dividend income.
What amount of the Social Security benefits must George and Wanda include in their gross income under the following independent
situations?
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer
blank. Enter zero if applicable.
Required:
a. George and Wanda file married joint and receive $8,750 of dividend income from stocks owned by George
b. George and Wanda file married separate and receive $8,750 of dividend income from stocks owned by George
c. George and Wands file married joint and receive $32.200 of dividend income from stocks owned by George
d. George and Wanda file married joint and receive $16,100,of dividend income from stocks owned by George
Complete this question by entering your answers in the tabs below.
Required A
Required C
George and Wanda file married joint and receive $8,750 of dividend income from stocks owned by George.
Amount to be included in gross income
Required
Required D
Required >
Transcribed Image Text:George and Wanda received $29,100 of Social Security benefits this year ($11,000 for George, $18.300 for Wanda). They also received $4,800 of interest from jointly owned City of Ranburne Bonds and dividend income. What amount of the Social Security benefits must George and Wanda include in their gross income under the following independent situations? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. Required: a. George and Wanda file married joint and receive $8,750 of dividend income from stocks owned by George b. George and Wanda file married separate and receive $8,750 of dividend income from stocks owned by George c. George and Wands file married joint and receive $32.200 of dividend income from stocks owned by George d. George and Wanda file married joint and receive $16,100,of dividend income from stocks owned by George Complete this question by entering your answers in the tabs below. Required A Required C George and Wanda file married joint and receive $8,750 of dividend income from stocks owned by George. Amount to be included in gross income Required Required D Required >
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