Last year Juni earned $49,800 from her job, and $42 in interest income. Her employer withheld $4800 to pay for health insurance and another $3000 for her tax-deferred retirement account. She qualifies for a deduction of $18,700. Calculate her Gross, Adjusted Gross, and Taxable incomes.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Last year Juni earned $49,800 from her job, and $42 in interest income. Her employer withheld $4800 to pay for health insurance and another $3000 for her tax-deferred retirement account. She qualifies for a deduction of $18,700. Calculate her Gross, Adjusted Gross, and Taxable incomes.

Income Type
Amount
Correct?
Gross Income
49842
Yes
Adjusted Gross
Income
Taxable Income
Total Score
1
Transcribed Image Text:Income Type Amount Correct? Gross Income 49842 Yes Adjusted Gross Income Taxable Income Total Score 1
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