Business, 01.03.2021 22:00 gtrsoccer

Topic 1 Samuel recently graduated from Portland State University with an Accounting degree. He is currently working as an accountant for a large consulting company and wants to know how to account for the following items. The company paid for a CPA prep course, which would have cost him $3,000. They also paid for all of the CPA exam and state filing fees, which totaled $900. The bank where he got his student loans also forgave half of his $40,000 of student loans, which brought his current year balance down to $20,000. His AGI before considering any of these items was $62,000. Using the tax law, determine how these items will affect his taxes.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 19:20

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

Answers: 2

Answer

Business, 21.06.2019 23:00

What is overdraft protection (odp)? a.) a cheap and easy way to always avoid overdrawing a bank account b.) a service to automatically transfer available funds from a linked account to cover purchases, prevent returned checks and declined items when you don’t have enough money in your checking account at the time of the transaction. c.) an insurance policy sold by banks to prevent others from withdrawing your money d.) a service provided by the government that insures individuals bank deposits up to $250,000

Answers: 2

Answer

Business, 22.06.2019 19:50

At the beginning of 2014, winston corporation issued 10% bonds with a face value of $2,000,000. these bonds mature in five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $1,852,800 to yield 12%. winston uses a calendar-year reporting period. using the effective-interest method of amortization, what amount of interest expense should be reported for 2014? (round your answer to the nearest dollar.)

Answers: 2

Answer

Business, 22.06.2019 23:30

Which career pathways require workers to train at special academies? a.emts and emergency dispatchers b.crossing guards and lifeguards c.police officers and firefighters d.lawyers and judges

Answers: 3

Answer

You know the right answer?

Topic 1 Samuel recently graduated from Portland State University with an Accounting degree. He is cu...

Questions