Problem 7-45.mason phillips, age 45, and his wife, ruth, live at 230 wood lane, salt lake city, ut 84101. mason’s social security number is 111-11-. ruth’s social security number is 123-45-6789. mason and ruth are cash basis taxpayers and had the following items for 2017: salary of $140,000.bad debt of $30,000 from uncollected rent. collection of unpaid rent from a prior year of $6,000.sale of § 1244 stock resulting in a loss of $105,000. the stock was acquired eight months ago. rental income of $60,000.rental expenses of $33,000.casualty loss on rental property of $10,000.personal casualty loss (from one event) of $20,000.theft loss of $5,000 on a computer used 100% associated with their jobs. theft loss of $8,000 on a painting held for investment. other itemized deductions of $18,000.federal income tax withheld of $3,000.compute mason and ruth’s 2017 federal income tax payable (or refund due)

Concrete consulting co. has the following accounts in its ledger: cash; accounts receivable; supplies; office equipment; accounts payable; jason payne, capital; jason payne, drawing; fees earned; rent expense; advertising expense; utilities expense; miscellaneous expense. transactions oct. 1 paid rent for the month, $3,600. 3 paid advertising expense, $1,200. 5 paid cash for supplies, $750. 6 purchased office equipment on account, $8,000. 10 received cash from customers on account, $14,800. 15 paid creditors on account, $7,110. 27 paid cash for miscellaneous expenses, $400. 30 paid telephone bill (utility expense) for the month, $250. 31 fees earned and billed to customers for the month, $33,100. 31 paid electricity bill (utility expense) for the month, $1,050. 31 withdrew cash for personal use, $2,500. journalize the following selected transactions for october 2019 in a two-column journal. refer to the chart of accounts for exact wording of account titles

Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income

Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?