ACCT 224 DeVry Week 2 Quiz Latest

ACCT 224 DeVry Week 2 Quiz Latest
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ACCT 224 DeVry Week 2 Quiz Latest
ACCT224
ACCT 224 DeVry Week 2 Quiz Latest
(TCO 3) During 2013, Judy, a single taxpayer, 23 years old, had $48,000 of gross income. Her itemized deductions
totaled $6,000. Her 10-year-old brother lived with and was fully supported by her. What is Judy's taxable income for
2013?
o 31,250
o 34,750
o 32,250
o 48,050
Question 2. Question : (TCO 3) Mr. and Mrs. Airs had taxable income of $114,000 for 2013. He was 27; she
was 35. What is their tax liability if they elect to file married filing jointly?
o 20,357.50
o 21,400
o 22,650
o 26,500
Question 3. Question : (TCO 3) Mr. and Mrs. Roberts are joint filers with $90,000 of AGI. The couple has three
dependent children: Jacob, their 19-year-old son, Jared, their 16-year-old son, and Robby, their 8-year-old son. For
2013, their child credit is
o $1,800.
o $2,000.
o $1,200.
o $0.
Question 4. Question : (TCO 3) Which of the following statements concerning extensions of time to file an
individual tax return is true?
o
o
o
o
The extension extends the time for payment of tax.
The first extension is for 6 months.
A second extension of 4 additional months is available with the approval of the Internal Revenue Service.
An extension prevents the taxpayer from owing interest and penalties.

Question 5. Question : (TCO 3) For 2013, Michelle (a single person) had the following tax information:
Wages: $56,000
Itemized deductions: $3,350
Michelle's taxable income for the year is
o 46,000.
o 43,850.
o 45,350.
o 40,550.
(General Feedback: Chapter 14. $56,000 -$6,100 - $3,900)