Sheniqua, a single taxpayer, had taxable income of $80,528. Her employer withheld $12,884 in federal income tax from her paychecks throughout the year. What is the amount of refund would Sheniqua receive or additional tax she would pay? Note: Input your answer as a positive number.

L. A. and Paula file as married taxpayers. In August of this year, they received a $5,200 refund of state income taxes that they paid last year. How much of the refund, if any, must L. A. and Paula include in gross income under the following independent scenarios? Assume the standard deduction last year was $25,100. Note: Leave no answer blank. Enter zero if applicable. Required: a. Last year L. A. and Paula had itemized deductions of $19,200, and they chose to claim the standard deduction. b. Last year L. A. and Paula claimed itemized deductions of $31,400. Their itemized deductions included state income taxes paid of $7,500 and no other state or local taxes. c. Last year L. A. and Paula claimed itemized deductions of $27,600. Their itemized deductions included state income taxes paid of $10,500, which were limited to $10,000 due to the cap on state and local tax deductions.

Lacy is a single taxpayer. In 2022, her taxable income is $44,200. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Required: All of her income is salary from her employer. Her $44,200 of taxable income includes $1,200 of qualified dividends. Her $44,200 of taxable income includes $5,200 of qualified dividends.

Cassy reports a gross tax liability of $1,190. She also claims $590 of nonrefundable personal credits, $795 of refundable personal credits, and $390 of business credits. What is Cassy's tax refund or tax liability due after applying the credits?

Campbell, a single taxpayer, earns $442,000 in taxable income and $4,100 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: a. How much federal tax will she owe? b. What is her average tax rate? c. What is her effective tax rate? d. What is her current marginal tax rate?

Chuck, a single taxpayer, earns $80,200 in taxable income and $12,900 in interest from an investment in City of Heflin bonds. (Us the U.S tax rate schedule.) Required: a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D How much federal tax will he owe? Note: Do not round intermediate calculations. Round "Federal tax" to nearest whole dollar amount. Federal tax

Assign overhead using traditional costing and ABC. E5.21 (LO 1, 2, 4) Shady Lady sells window coverings to both commercial and residential customers. The following information relates to its budgeted operations for the current year: Revenues Commercial $300,000 Residential $480,000 Direct material costs $ 30,000 Direct labour costs 100,000 Overhead costs 55,000 Operating income (loss) 185,000 $115,000 $ 70,000 300,000 162,000 532,000 $(52,000) The controller, Susan Chan, is concerned about the residential product line. She cannot understand why this line is not more profitable given that window coverings are less complex to install for resi- dential customers. In addition, the residential client base resides close to the company office, so travel costs are not as expensive on a per-client visit for residential customers. As a result, she has decided to take a closer look at the overhead costs assigned to the two product lines to determine whether a more accurate product costing model…

Adelaide is self-employed and must submit estimated quarterly tax payments. Her predicted total tax liability for the current year will be $⁢36,000, and her current withholdings are $⁢18,283. She is advised to determine her quarterly payments by subtracting her current withholdings from her predicted total tax liability and dividing by four. What is a good estimate for Adelaide to use for her quarterly payments?

Sharon Jones is single. During 2022, she had gross income of $159,800, deductions for AGI of $5,500, itemized deductions of $14,000 and tax credits of $2,000. Sharon had $22,000 withheld by their employer for federal income tax. She has a tax  (due/refund) rounded to the nearest whole dollar of $.

Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $188,000. Assume the following tax table is applicable. Single Individuals If Your Taxable Income Is Up to $9,875 $9,875- $40,125 $40,125- $85,525 $85,525- $163,300 $163,300- $207,350 $207,350- $518,400 You Pay This Amount on the Base of the Bracket $0.00 987.50 4,617.50 14,605.50 33,271.50 Over $518,400 What is her marginal tax rate? 47,367.50 156,235.00 Plus This Percentage on the Excess over the Base 10.0% 12.0 22.0 24.0 32.0 35.0 37.0 Average Tax Rate at Top of Bracket 10.0% 11.5 17.1 20.4 22.8 30.1 37.0