The following table shows all the incomes (before taxes and subsidies), taxes and subsidies that a family of 4 members had during 2020. Year 2020 Household members Age Income ($) Taxes ($) Subsidies ($) 45 50000 10000 0 35000 5250 250 0 0 0 1000 1 2 3 4 43 16 5

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
The following table shows all the incomes (before taxes and subsidies), taxes and
subsidies that a family of 4 members had during 2020.
Year 2020
Household members Age Income ($) Taxes ($) Subsidies ($)
1
50000 10000
5250
45
43
35000
250
3
16
1000
Question 25
Given the information of the table, calculate the Adjusted Total Income for this family
according to the CIS definition. The result should be an integer number in $ (round to
the nearest integer number if necessary). E.g. if the result is 353.3, write 353.
Your Answer:
Answer
Question 26,
Given the information of the table, calculate the Adjusted After Tax Income for this
family according to the CIS definition. The result should be an integer number in $
(round to the nearest integer number if necessary). E.g. if the result is 353.3, write
353.
Your Answer:
Answer
Transcribed Image Text:The following table shows all the incomes (before taxes and subsidies), taxes and subsidies that a family of 4 members had during 2020. Year 2020 Household members Age Income ($) Taxes ($) Subsidies ($) 1 50000 10000 5250 45 43 35000 250 3 16 1000 Question 25 Given the information of the table, calculate the Adjusted Total Income for this family according to the CIS definition. The result should be an integer number in $ (round to the nearest integer number if necessary). E.g. if the result is 353.3, write 353. Your Answer: Answer Question 26, Given the information of the table, calculate the Adjusted After Tax Income for this family according to the CIS definition. The result should be an integer number in $ (round to the nearest integer number if necessary). E.g. if the result is 353.3, write 353. Your Answer: Answer
Question 27
Given the information of the table, calculate the Adjusted Market Income for this
family according to the CIS definition. The result should be an integer number in $
(round to the nearest integer number if necessary). E.g. if the result is 353.3, write
353.
Your Answer:
Answer
Transcribed Image Text:Question 27 Given the information of the table, calculate the Adjusted Market Income for this family according to the CIS definition. The result should be an integer number in $ (round to the nearest integer number if necessary). E.g. if the result is 353.3, write 353. Your Answer: Answer
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