Questions
Mary Jarvis is a single individual who is working on filing her tax return for the...

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

  • She received $99,000 in salary.
  • She received $13,500 of dividend income.
  • She received $4,200 of interest income on Home Depot bonds.
  • She received $23,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,700.
  • She received $14,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $4,700.
  • Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income.

What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

What is her average tax rate? Round your answer to 2 decimal places.

Personal taxes
Salary $99,000.00
Dividend Income $13,500.00
Interest Income $4,200.00
LT Stock Sale $23,000.00
LT Stock Cost $6,700.00
ST Stock Sale $14,500.00
ST Stock Cost $4,700.00
Personal Exemption $4,000.00
Itemized Deductions $7,500.00
Apllicable Tax Rate on Dividends & LT Capital Gains 15.00%
a. Calculation of Federal Tax Liability
Calculation of Taxable Income:
Salary $99,000.00
Interest Income $4,200.00
ST Capital Gains $9,800.00
Income before Exemption and Deductions $113,000.00
Personal Exemption $4,000.00
Itemized Deductions $7,500.00
    Taxable Income before Dividends & LT Capital Gains
Taxes on Taxable Income Before Dividends & LT Capital Gains:
Tax Liability on Base of Bracket
Tax Liability on Excess over Base
Tax on Taxable Income before Dividends & LT Capital Gains
Taxes on Dividends & LT Capital Gains:
Dividend Income
LT Capital Gains Income
Total Dividend & LT Capital Gains Income
Tax on Dividends & LT Capital Gains Income
Total Federal Tax Liability
b. Calculation of Marginal Tax Rate
Marginal Tax Rate
c. Calculation of Average Tax Rate
Average Tax Rate
Taxable Income Amount Paid on Base Percentage on Excess over Base
$0.00 $0.00 10.00%
$9,225.00 $922.50 15.00%
$37,450.00 $5,156.25 25.00%
$90,750.00 $18,481.25 28.00%

In: Accounting

In vertebrate societies, what are the costs to an individual who makes an alarm call? Based...

In vertebrate societies, what are the costs to an individual who makes an alarm call? Based on research in ground squirrels, which individuals are most likely to make alarm calls, and what benefits do they receive by doing so?

In: Biology

Explain how the possible profit and loss possibilities arise for an individual who invests in a:...

  1. Explain how the possible profit and loss possibilities arise for an individual who invests in a:
    1. A Call Option
      1. Be sure to explain what a Call Option is.
      2. Be sure to incorporate the cost of the Call Option in your analysis.
    2. A Put Option
      1. Be sure to explain what a Put Option is.
      2. Be sure to incorporate the cost of the Put Option in your analysis.

In: Finance

Mary Jarvis is a single individual who is working on filing her tax return for the...

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

She received $128,000 in salary.

She received $16,000 of dividend income.

She received $8,800 of interest income on Home Depot bonds.

She received $22,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,600.

She received $9,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $6,200.

Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income.

Assume that her tax rates are based on Table 3.5. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Open spreadsheet

What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

$

What is her marginal tax rate? Round your answer to 1 decimal place.

%

What is her average tax rate? Round your answer to 2 decimal places.

%

In: Accounting

Mary Jarvis is a single individual who is working on filing her tax return for the...

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: She received $105,000 in salary. She received $16,500 of dividend income. She received $6,800 of interest income on Home Depot bonds. She received $21,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,100. She received $13,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,700. Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table 3.5. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

What is her marginal tax rate? Round your answer to 1 decimal place. 28%

What is her average tax rate? Round your answer to 2 decimal places.

In: Accounting

Suppose that A is an individual investor and OL represents other investors. All the investors who...

Suppose that A is an individual investor and OL represents other investors. All the investors who hold short positions are denoted by SH.

Currently, A holds 2,000 contracts long and OL holds 4,200 long contracts.

Starting with the current holdings, determine the holdings of A, OL, SH, as well as the volume and the Open Interest after each of the following transactions and the end result:

Day 0. Current holdings.

Day 1. A shorts 500 contracts and OL longs 500 contracts

Day 2. A longs 700 contracts and OL shorts 700 contracts

Day 3. A longs 200 contracts and SH shorts 200 contracts

Day 4. A shorts 800 contracts and SH longs 800 contracts

Suppose that A is an individual investor and OL represents other investors. All the investors who hold short positions are denoted by SH.

Currently, A holds 2,000 contracts long and OL holds 4,200 long contracts.

Starting with the current holdings, determine the holdings of A, OL, SH, as well as the volume and the Open Interest after each of the following transactions and the end result:

Day 0. Current holdings.

Day 1. A shorts 500 contracts and OL longs 500 contracts

Day 2. A longs 700 contracts and OL shorts 700 contracts

Day 3. A longs 200 contracts and SH shorts 200 contracts

Day 4. A shorts 800 contracts and SH longs 800 contracts

In: Finance

Suppose that A is an individual investor and OL represents other investors. All the investors who...

Suppose that A is an individual investor and OL represents other investors. All the investors who hold short positions are denoted by SH.

Currently, A holds 2,000 contracts long and OL holds 4,200 long contracts.

Starting with the current holdings, determine the holdings of A, OL, SH, as well as the volume and the Open Interest after each of the following transactions and the end result:

Day 0. Current holdings.

Day 1. A shorts 500 contracts and OL longs 500 contracts

Day 2. A longs 700 contracts and OL shorts 700 contracts

Day 3. A longs 200 contracts and SH shorts 200 contracts

Day 4. A shorts 800 contracts and SH longs 800 contracts

In: Finance

Mary Jarvis is a single individual who is working on filing her tax return for the...

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

  • She received $88,000 in salary.
  • She received $20,000 of dividend income.
  • She received $6,300 of interest income on Home Depot bonds.
  • She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,100.
  • She received $14,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,800.
  • Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income.
Personal taxes
Salary $88,000.00 Tax Table for Single Individuals:
Dividend Income $20,000.00 Taxable Income Amount Paid on Base Percentage on Excess over Base
Interest Income $6,300.00 $0.00 $0.00 10.00%
LT Stock Sale $24,500.00 $9,225.00 $922.50 15.00%
LT Stock Cost $6,100.00 $37,450.00 $5,156.25 25.00%
ST Stock Sale $14,000.00 $90,750.00 $18,481.25 28.00%
ST Stock Cost $7,800.00 $189,750.00 $46,075.25 33.00%
Personal Exemption $4,000.00 $411,500.00 $119,401.25 35.00%
Itemized Deductions $7,500.00 $413,200.00 $119,996.25 39.60%
Apllicable Tax Rate on Dividends & LT Capital Gains 15.00%
  1. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

    $

  2. What is her marginal tax rate? Round your answer to 1 decimal place.

    %

  3. What is her average tax rate? Round your answer to 2 decimal places.

    %

In: Accounting

Kirk is a bright individual who is being groomed for the Controller’s position in a medium-sized...

Kirk is a bright individual who is being groomed for the Controller’s position in a medium-sized manufacturing firm. After his first year as Assistant Controller, the officers of the firm were starting to include him in major company functions. For instance, today he was attending the monthly financial statement summary given at a prestigious consulting firm. During the meeting, Kirk was intrigued at how all the financial data he had been accumulating was transformed by the consultant into revealing charts and graphs. Kirk was generally optimistic about the session and the company’s future until the consultant started talking about the new manufacturing plant the company was adding to the current location and the costs per unit of the chemically plated products it produced. At that time, Bob (the President) and John (the chemical engineer) started talking about waste treatment and disposal problems. John mentioned that the current waste facilities were not adequate to handle the waste products that would be created by the “ultramodern” new plant in a manner that would meet the industry's fairly high standards, although they could still comply with federal standards. Kirk’s boss, Henry, noted that the estimated cost per unit would be increased if the waste treatment facilities were upgraded according to recent industry standards. While industry standards are presently more stringent than federal regulations, environmentalists are strongly pressuring for more stringent regulations at the federal level. Bob mentioned that since their closest competitor did not have the waste treatment facilities that already existed at their firm, he was not in favor of further expenditure in this area. Most managers at this meeting resoundingly agreed with Bob, and business continued on to another topic. Kirk did not hear a word during the rest of the meeting. He kept wondering how the company could possibly have such a casual attitude toward the environment. Yet he did not know if, how, or when he could share his opinion. Soon he started reflecting on whether this was the right firm for him. What should Kirk do? Putting Corporate Responsibility first, but recognizing the politics at play, what is the most ethical thing to do? The most practical? What strategy would you suggest to Kirk if he came to you for advice?

In: Finance

When working on the intervention side to incorporate a planned change process, with an individual who...

When working on the intervention side to incorporate a planned change process, with an individual who is a client at a small addiction counting office that works through individual and group sessions.

Write about all the points below:

1. What interventions would one decide to use to use as a tool to achieve a planned change to work on goals that enhance the client’s quality of life and communities that they live in?

2. What humanity behaviors were applied and how did it affect the public around the client, as well as any other theories that could be used in the community.

3. How does working with other professionals, when allotted, to gain positive field results?

4. How well can you apply aptitude to gain persuasion, pray and enforce social justice for clients that are apart of suffering populations and communities?

5. How can one produce positive changes and ways to end the helping relationship that develop the clients wanted areas of change, that was arranged by professional and client?

In: Psychology