Claiming dependents for taxation

Assignment Help Accounting Basics
Reference no: EM1359344

Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh university and lives in an apartment. While the niece and cousing have no income, her brother has a part-time job and earns $4,000 per year. How many personal and dependency exemptions may Danni claim.

1

2

3

4

Reference no: EM1359344

Questions Cloud

Competitive consequences of restructuring : In order to cut expenses when the dollar was at its peak, Caterpillar shifted production of small construction equipment overseas. By contrast, Caterpillar's main competitors in that area,
State whether each reference is hit or a miss : Assume a cache has 16 1-word blocks and is initially empty. Placement is by direct mapping. Also, state whether each reference is a hit or a miss.
Economic status influencing diagnosis : What information do you feel is needed to diagnose an individual with an alcohol use disorder? Does economic status alter the individual"s diagnosis? Should economic status influence the diagnosis? Why or why not?
Explain fair trade marketing : Explain Fair Trade Marketing- An Alternative System for Globalization and Development
Claiming dependents for taxation : Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh universit..
Problem on exchange risk : About two thirds of all California almonds are exported. The ups and downs of the United State dollar, therefore, cause headaches for almond growers. To avoid these problems, a grower decides to concentrate on domestic sales.
Issues of substance abuse : What are the different ways in which the issues of substance abuse and teen pregnancy might be related? Support your statement with facts either from the textbook or outside research.
Translation-transaction and economic exposure : What are the different issues involved with translation exposure, transaction exposure and economic exposure? How can companies plan to mitigate the risk of each? What are the opportunity costs associated with measures to mitigate this risk?
What is the final position of the man : what is the final position of the man. What is the magnitude of the electric field (in N/C) at the point (-2.0 m, 3.0 m).

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journal entry for depreciation-presentation

At the end of its first year, the trial balance of Eaton Company shows Equipment $30,000 and zero balances in Accumulated Depreciation?Equipment and in Depreciation Expense ?Equipment. Depreciation for the year is estimated to be $6,000.

  Audit findings

Determine both the relationship of risks in the planning of the audit and factors that influence those risks. Speculate on which type of risk creates the most uncertainty for the auditor, and recommend at least two ways to plan the audit to mitiga..

  Preparation of single step and multi step income statement

The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2007- Prepare a multiple-step income statement. Prepare a single-step in..

  Compute the effect of transfer on net income

Top management has decided the transfers between the two divisions should be at $19. Compute the effect of the transfer on the net income for the Battery Division, Automotive Division, and the total company

  Internal controls-payroll cycle

Please provide an explanation of the strengths and weaknesses of the internal controls related to the payroll cycle.

  Valuation by us gaap and ifrs

Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, briefly:

  Adjusting entry for the end of the year

There was $800 of supplies on hand at the end of the year. Prepare the adjusting entry for the end of the year.

  Determining tests of controls

What do you do if you are unable to determine internal controls? Which do you think is most important?

  Recording long-term asset purchases

Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?

  Government and institutional accounting

In your role as the financial manager, you routinely review your firm's financial statements and financial ratios to evaluate the financial health of your company.

  Compute the depreciation expense

Survival Industries, Inc. purchased a boat at a cost of $360,000-Compute the depreciation expense for 2014

  Determining major funds

Using a Governmental Agency or Not-for-Profit organization identify what are considered to be its major funds? In what key ways are major funds reported differently than non-major funds?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd