Mr. Babu Kamil is a married person and have a net income of $85,000 in 2021. His spouse has a net income of $4500 and she has no mental or physical infirmity. Calculate the spousal amount to be claimed in Line 30300 $13808 – 4500 = $9,308 Calculate the spousal credit (how much credit Mr. Babu gets from this amount). $9308*15% = $1396.20

Mr. Babu Kamil is a married person and have a net income of $85,000 in 2021. His spouse has a net income of $4500 and she has no mental or physical infirmity. Calculate the spousal amount to be claimed in Line 30300 $13808 – 4500 = $9,308 Calculate the spousal credit (how much credit Mr. Babu gets from this amount). $9308*15% = $1396.20

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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