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PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999 Exercise 4
Use Worksheets 3.1 and 3.2. Harvey Yang graduated from college in 2010 and began work as a systems analyst in July of that year. He is preparing to file his income tax return for 2010 and has collected the financial information shown in the table to the right for that calendar year.
a. Prepare Harvey's 2010 tax return, using a $5,700 standard deduction, a personal exemption of $3,650, and the tax rates given in Exhibit 3.3. Which tax form should Harvey use, and why?
b. Prepare Harvey's 2010 tax return using the data in part a along with the following information:
Which tax form should he use in this case? Why?
a. Prepare Harvey's 2010 tax return, using a $5,700 standard deduction, a personal exemption of $3,650, and the tax rates given in Exhibit 3.3. Which tax form should Harvey use, and why?
b. Prepare Harvey's 2010 tax return using the data in part a along with the following information:
Which tax form should he use in this case? Why?
Explanation
Verified
Verified
a.
If the income of tax payer is less th...
PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
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