Last year Sherlock had an annual earned income of S58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Sherlock's total gross income for the year? a. $58.475 b. 559.730 c. 560 985 d.562.080

Rourke Enterprises is owned by Dallas. For the year, Rourke had net income per books of $450,000. This included the following items:   Federal income tax expense $125,000   Bad Debt Expense1                         $80,000 Rent                                        $50,000   Meals                                      $45,000 Depreciation expense2                  $105,000     Dividends3                                            $50,000 1 This was calculated using the allowance method. Using specific write-off, this would have been $50,000. 2 Sum-of-the-years-digits method was used for book purposes. Had MACRS been used, depreciation expense would have been $125,000. Had straight-line been used, depreciation would have been $95,000. 3 These dividends were from Mavis, Inc. Jiminy owns 75% of Jepeto.     During the year, Rourke pays Dallas distribution of $500,000. Dallas has a basis of $600,000 in her stock. What are the tax consequences of the distribution to Dallas? What basis will…

LeRoy has the following capital gains and losses for the current year: Short-term capital gain $10,000 Collectible loss (3,000) Long term capital gain 5,000 If LeRoy is single and has a taxable income from other sources of $52,000, what is the tax on his capital gains? Oa. $2,500 Ob. $3,000 Oc. $2,640 Od. $1.800

1. Alfred Morneau earned gross pay of $640. Each period he makes a 401(k) contribution of 7% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $58,300.Total Social Security tax = $   3. Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $158,900.Total Social Security tax = $

I am stuck on what my utility expense for my income statement. I had $30K utilities the first year and incurred an additional $35K and would assume the expense is $65K. Where am I going wrong?

Answer in typing

Data: Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather’s only source of income for the year. Heather made $1,000 of estimated tax payments during the year. Question: Determine Heather’s federal income taxes due or payable Thx