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NET SALES ARE $3,000,000, BEGINNING TOTAL, ASSETS ARE $1,400,000. AND THE ASSET TURNOVER IS 3.0 TIMES. WHAT IS THE ENDING TOTAL ASSET BALANCE? A) $1,400,000. B) 800,000. C) $1,000,000. D) $600,000. IN 2016, AN INDIVIDUAL EARNED $65,000 OF EMPLOYMENT INCOME. THE FOLLOWING DEDUCTIONS WERE MADE FROM HER SALARY: - REGISTERED PENSION PLAN (RPP) CONTRIBUTION OF $5,000. - MAXIMUM CANADA PENSION PLAN (CPP) AND EMPLOYMENT INSURANCE (EI) CONTRIBUTIONS OF $3,499. - CHARITABLE DONATIONS OF $600. (SHE HAS MADE ANNUAL DONATIONS) WHAT WOULD BE HER TOTAL FEDERAL TAX? A. $7,228 B. $7,402 C. $8,253 D. $9,718 Maureen Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the year was $134,750. What is her taxable income? a. $105,698 b. $120,620 c. $122,750 d. $121,863 e. $129,324

NET SALES ARE $3,000,000, BEGINNING TOTAL, ASSETS ARE $1,400,000. AND THE ASSET TURNOVER IS 3.0 TIMES. WHAT IS THE ENDING TOTAL ASSET BALANCE? A) $1,400,000. B) 800,000. C) $1,000,000. D) $600,000. IN 2016, AN INDIVIDUAL EARNED $65,000 OF EMPLOYMENT INCOME. THE FOLLOWING DEDUCTIONS WERE MADE FROM HER SALARY: - REGISTERED PENSION PLAN (RPP) CONTRIBUTION OF $5,000. - MAXIMUM CANADA PENSION PLAN (CPP) AND EMPLOYMENT INSURANCE (EI) CONTRIBUTIONS OF $3,499. - CHARITABLE DONATIONS OF $600. (SHE HAS MADE ANNUAL DONATIONS) WHAT WOULD BE HER TOTAL FEDERAL TAX? A. $7,228 B. $7,402 C. $8,253 D. $9,718 Maureen Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the year was $134,750. What is her taxable income? a. $105,698 b. $120,620 c. $122,750 d. $121,863 e. $129,324

FINANCIAL ACCOUNTING
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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i want all 3 Q answer pls provide

NET SALES ARE $3,000,000, BEGINNING TOTAL, ASSETS ARE $1,400,000. AND THE ASSET TURNOVER IS 3.0 TIMES. WHAT IS THE ENDING TOTAL ASSET BALANCE? A) $1,400,000. B) 800,000. C) $1,000,000. D) $600,000. IN 2016, AN INDIVIDUAL EARNED $65,000 OF EMPLOYMENT INCOME. THE FOLLOWING DEDUCTIONS WERE MADE FROM HER SALARY: - REGISTERED PENSION PLAN (RPP) CONTRIBUTION OF $5,000. - MAXIMUM CANADA PENSION PLAN (CPP) AND EMPLOYMENT INSURANCE (EI) CONTRIBUTIONS OF $3,499. - CHARITABLE DONATIONS OF $600. (SHE HAS MADE ANNUAL DONATIONS) WHAT WOULD BE HER TOTAL FEDERAL TAX? A. $7,228 B. $7,402 C. $8,253 D. $9,718 Maureen Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the year was $134,750. What is her taxable income? a. $105,698 b. $120,620 c. $122,750 d. $121,863 e. $129,324
Transcribed Image Text:NET SALES ARE $3,000,000, BEGINNING TOTAL, ASSETS ARE $1,400,000. AND THE ASSET TURNOVER IS 3.0 TIMES. WHAT IS THE ENDING TOTAL ASSET BALANCE? A) $1,400,000. B) 800,000. C) $1,000,000. D) $600,000. IN 2016, AN INDIVIDUAL EARNED $65,000 OF EMPLOYMENT INCOME. THE FOLLOWING DEDUCTIONS WERE MADE FROM HER SALARY: - REGISTERED PENSION PLAN (RPP) CONTRIBUTION OF $5,000. - MAXIMUM CANADA PENSION PLAN (CPP) AND EMPLOYMENT INSURANCE (EI) CONTRIBUTIONS OF $3,499. - CHARITABLE DONATIONS OF $600. (SHE HAS MADE ANNUAL DONATIONS) WHAT WOULD BE HER TOTAL FEDERAL TAX? A. $7,228 B. $7,402 C. $8,253 D. $9,718 Maureen Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the year was $134,750. What is her taxable income? a. $105,698 b. $120,620 c. $122,750 d. $121,863 e. $129,324
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