Business, 19.02.2021 16:20 aliviafrancois2000

Advanced Scenario 2: Pat and Terri Jefferson Interview Notes
Pat and Terri are married and want to file a joint return.
Pat is a U. S. citizen and has a valid Social Security number. Terri is a resident alien and has an ITIN.
Pat has a child from a previous marriage, Jacob, age 17.
Pat and Terri have a child together, Jill, age 12.
Jacob and Jill are U. S. citizens and have valid Social Security numbers.
Pat received a total of $3,300 in unemployment compensation when he lost his job due to the coronavirus pandemic. He also earned $22,000 in wages.
Terri did not have any income.
Pat and Terri provided all the support for their two children.

Advanced Scenario 2: Test Questions

3. Pat and Terry are eligible for which of the following credits?
a. Credit for other dependents
b. Child tax credit
c. Earned income credit
d. Both a and b
4. Patâ€™s unemployment compensation is not taxable this year because it was received as a result of the coronavirus pandemic.
a. True
b. False

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 08:00

Why do police officers get paid less than professional baseball players?

Answers: 2

Answer

Business, 22.06.2019 15:20

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Answers: 3

Answer

Business, 22.06.2019 20:30

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.

Answers: 3

Answer

Business, 22.06.2019 23:00

How an absolute advantage might affect a country's imports and exports?

Answers: 2

Answer

You know the right answer?

Advanced Scenario 2: Pat and Terri Jefferson Interview Notes
Pat and Terri are married and wa...

Questions