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Complete the required federal individual income tax return forms for Magdalena Schmitz for the 2015 tax year. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040.
Tax information provided by client:
Magdalena Schmitz has undergone some major changes in her life recently. In 2014, at the age of 46, her husband, Roger, passed away. Magdalena has not remarried as of the end of 2015. Magdalena currently lives in Bedford, Pennsylvania. She was living in Pittsburgh when her husband passed away but she moved back to her childhood home so she could get help from her family raising her children. Magdalena was employed in Pittsburgh early in the year but left that job and relocated 100 miles away to pursue a life and start her new job.
the economic downturn has caused several companies to lay off workers leaving those workers who remain to do the work
Emerson Electronics had the following information related to its September inventory. Sales were made at $20 per unit and Emerson uses the perpetual inventory system. What is the value of ending inventory under FIFO?
The company's initial chart of accounts follows.
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Educational Incentives
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