Answered: Alexis had $87,768

Business

Accounting

Alexis had $87,768

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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Question

Alexis had $87,768 of income from wages and $279 of taxable interest. Alexis also made contributions of $2,300 to a tax-deferred retirement account. Alexis has o dependents and files as single. What is Alexis's total income? Enter an integer or decimal number [more..] What is Alexis's adjusted gross income? For Alexis's filing status, the standard deduction is $6,300, and the exemption amount is $4000 per exemption. What is Alexis's taxable income? Use the 2015 tax table to find the income tax for Alexis filing as single..

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