Mario, 35, is single and lives with his girlfriend, Huyen, also 35. Mario has a 6-year-old son,
Manpreet, who lived with him for all of 2018. Mario provided more than 50% of the support for
both Manpreet and Huyen in 2018.
In 2018, Mario earned a salary of $76,000. In addition to his salary, Mario also received alimony
of $1,000 per month and child support payments of $500 per month from his ex-spouse. Mario
contributed $2,500 to an individual retirement account in 2018. Mario paid $13,000 of
expenditures that qualify as itemized deductions and childcare costs of $6,000 to allow Mario to
work. Mario had a total of $6,500 in federal income taxes withheld from his paychecks during
2018.
Huyen worked on and off in 2018 and earned wages of $4,000. Huyen paid no expenses that
qualify as deductions. Huyen had a total of $400 in federal income taxes withheld from her
paychecks during 2018.
A. What is Mario’s federal gross income for 2018?
B. What is Mario’s federal adjusted gross income for 2018?
C. What is the total amount of Mario’s deductions from AGI for 2018?
D. What is Mario’s federal taxable income for 2018?
E. What is Mario’s federal taxes payable or refund due for 2018?
F. Mario is upset because he received a large federal income tax refund last year (tax year
2017). Mario thinks that the tax reform enacted at the end of 2017 resulted in higher
taxes for him this year. Briefly explain to Mario why that is not necessarily the case just
because he did not receive a large refund again this year.
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Maria Is A Lesbian Working As A Sales Clerk In The Shoe Department Of Banks Depa
/in Uncategorized /by developerA.is not actionable, since homosexuals are not protected against discrimination by Title VII.
B.is actionable, since her her affinity orientation makes her more amenable to psychological injury.
C.is actionable, since the gravamen of her complaint is discrimination on the basis of her gender, not on the basis of her affinity orientation
D.is not actionable. Harassment of a lesbian by a male is regarded, in the eyes of the law, as same-sex harassment, which is generally not a recognized claim.
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Maria Is Making A Outdoor Shower She Cut Holes In The Bottom Of The Bucket For T
/in Uncategorized /by developerMaria is making a outdoor shower.she cut holes in the bottom of the bucket for the water to drain.The water level decreased by 2cm every three minutes.The bucket is filled with 44 cm of water.How long will it take for the bucket to be empty?
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Maria Posts Several Signs In The Neighborhood Offering 50 For The Return Of Her
/in Uncategorized /by developerMaria posts several signs in the neighborhood offering $50 for the return of her lost dog, Fluffy. Apple telephones to get a full description of the dog and tells Maria, “I promise to look for your dog, you owe me $50.” A contract is formed by Apple’s call to Maria. True or False
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Marian Is A Sprinter Running Short Distances On The Track Team She Wants To Find 1
/in Uncategorized /by developerMarian is a sprinter, running short distances on the track team. She wants to find how fast she runs in miles per hour. What units should she start with?
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Marica Is Planning For Her Golden Years She Will Retire In 20 Years At Which Tim
/in Uncategorized /by developerMarica is planning for her golden years. She will retire in 20 years at which time she plans to begin withdrawing 60,000 annually. she is expected to live for 20 years after retirment. Her financial advisor thinks she can earn an average 9% annually. How much does she need to invest each year to prepare for her financial needs under the above plan
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Marie Has A Capital Balance Of 106 000 And M Albert Has A Capital Balance Of 94
/in Uncategorized /by developerJ. Marie has a capital balance of $106,000 and M. Albert has a capital balance of $94,000 in their partnership as of September 30. On October 1, Marie sells one-half of her partnership interest to R. Dennis for $60,000 cash. Albert agrees to accept Dennis as a new partner. Prepare the October 1 journal entry for the partnership by selecting the account names and dollar amounts from the drop-down menus.
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Marie Mccoy Has Committed To The Local Pta To Make Some Items For A Bake Sale On
/in Uncategorized /by developerMarie McCoy has committed to the local PTA to make some items for a bake sale on Saturday. She has decided to make some combination of chocolate cakes, loaves of white bread, custard pies, and sugar cookies. Thursday evening she went to the store and purchased 20 pounds of flour, 10 pounds of sugar, and 3 dozen eggs, which are the three main ingredients in all the baked goods she is thinking about making. The following table shows how much of each of the main ingredients is required for each baked good:
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Marin Corporation Operates In An Industry That Has A High Rate Of Bad Debts
/in Uncategorized /by developerDays Account Outstanding
Amount
Probability of
Collection
Marin corporationMarin Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the baaccount was $590,400 and Allowance for Doubtul Accounts had a…
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Mario 35 Is Single And Lives With His Girlfriend Huyen Also 35 Mario Has A 6 Yea
/in Uncategorized /by developerMario, 35, is single and lives with his girlfriend, Huyen, also 35. Mario has a 6-year-old son,
Manpreet, who lived with him for all of 2018. Mario provided more than 50% of the support for
both Manpreet and Huyen in 2018.
In 2018, Mario earned a salary of $76,000. In addition to his salary, Mario also received alimony
of $1,000 per month and child support payments of $500 per month from his ex-spouse. Mario
contributed $2,500 to an individual retirement account in 2018. Mario paid $13,000 of
expenditures that qualify as itemized deductions and childcare costs of $6,000 to allow Mario to
work. Mario had a total of $6,500 in federal income taxes withheld from his paychecks during
2018.
Huyen worked on and off in 2018 and earned wages of $4,000. Huyen paid no expenses that
qualify as deductions. Huyen had a total of $400 in federal income taxes withheld from her
paychecks during 2018.
A. What is Mario’s federal gross income for 2018?
B. What is Mario’s federal adjusted gross income for 2018?
C. What is the total amount of Mario’s deductions from AGI for 2018?
D. What is Mario’s federal taxable income for 2018?
E. What is Mario’s federal taxes payable or refund due for 2018?
F. Mario is upset because he received a large federal income tax refund last year (tax year
2017). Mario thinks that the tax reform enacted at the end of 2017 resulted in higher
taxes for him this year. Briefly explain to Mario why that is not necessarily the case just
because he did not receive a large refund again this year.
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Mario Has Reached A Crossroads In His Life He Is Trying To Decide Whether To Cha
/in Uncategorized /by developerMario has reached a crossroads in his life. He is trying to decide whether to change careers. Mario makes pizzas, but he is considering entering a different line of work testing video games. Mario can either test 6 games or toss 12 pizzas in a day. Mario’s friend luigi is in a similar predicament. Luigi can test 3 games or toss 2 pizzas during a day.
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