FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Based on the following data, will Ann Wilton receive a federal tax refund or owe additional taxes in
2019? (Input the amount as a positive value. Round your intermediate calculations and final
answer to 2 decimal places. Omit the "$" sign in your response.)
Taxable Income
0-$47,630
$47,630-$95,259
$95,259-$147,667
$147,667-$210,371
Tax Rate
158
20.58
268
298
Net income (line 23600)
Deductions to determine net income
Federal income tax withheld
Total non-refundable tax credit amounts,
excluding medical expenses
Medical expenses
Refund
$8149.85$
$50,690
$11,570
$ 7,009
$12,144
$ 2,800
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Transcribed Image Text:Based on the following data, will Ann Wilton receive a federal tax refund or owe additional taxes in 2019? (Input the amount as a positive value. Round your intermediate calculations and final answer to 2 decimal places. Omit the "$" sign in your response.) Taxable Income 0-$47,630 $47,630-$95,259 $95,259-$147,667 $147,667-$210,371 Tax Rate 158 20.58 268 298 Net income (line 23600) Deductions to determine net income Federal income tax withheld Total non-refundable tax credit amounts, excluding medical expenses Medical expenses Refund $8149.85$ $50,690 $11,570 $ 7,009 $12,144 $ 2,800
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