Steps forAshley Warren earned $ 68, 500 last year while paying $ 22,000 in housing expenses, $ 4, 400 on utilities, $4,000 on food, $30,000 in miscellaneous expenses, and $14, 663 in taxes. What cash surplus or deficit did Ashley earn last
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Steps forAshley Warren earned $ 68, 500 last year while paying $ 22,000 in housing expenses, $ 4, 400 on utilities, $4,000 on food, $30,000 in miscellaneous expenses, and $14, 663 in taxes. What cash surplus or deficit did Ashley earn last year?
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- Cody Sebastian, of Lubbock, Texas, earns $56,000 a year. He pays 12 percent of his gross income in federal, state, and local taxes. He has fixed expenses in addition to taxes of $1,600 per month and variable expenses that average $1,400 per month. What is his net cash flow (surplus or deficit) for the year? Enter negative values with minus sign. Round your answer to the nearest dollar.Alice makes $40,800 per year before taxes, which equal $9995 total for state income tax and all federal taxes. Alice pays $500 per month in rent, $200 per month in student loans, $480 every six months for insurance, about $25 per week in groceries, roughly $150 per month for entertainment, and exactly $70 per month for utilities. Assume 4 weeks in a month. What is her debt to income ratio?Assume that your starting salary will be $55,000 per year, and assume that you have no additional income sources. Also, assume that Federal income taxes are 27% of your gross income, and that there is not any state tax in Texas. What is your monthly net income?
- Last year Diane's annual income was $86,011. Use the following Income Tax table to calculate how much Daan paid last year in income tax. Round your answer to the nearest dollar. Only enter the number. Do not enter the dollar sign. For example: 11,526 In the kmage15. Diane Tennet earns $62,500 per year as an engineer. She receives a raise of 3.3% in a year in which the CPI index increases by 4.2%. Ignoring taxes, find the effect of the two increases on her purchasing power.The Yeung family is using the Quantitative Reasoning Process to set up a monthy budget. They have a monthly income of $4,365. In July, their monthly expenses were $3,113, their monthly state and federal taxes totaled $778, and they contributed $230 to their savings plan. What was the Yeung's monthly cash flow for July? O $0 (Their income is exactly the same amount as they are spending and saving.) $244 (Their income is a little more than they are spending and saving.) O -$508 (Their income is a lot less than they are spending and saving. They are going into debt) $508 (Their income is a lot more than they are spending and saving.) -$244 (Their income is a little less than they are spending and saving. They are going into debt)
- Anna has the following income for the quarter: a. Professional income P80,000 b. Income from her business P30,000 c. Compensation income P40,000 d. Interest income from bank deposit P10,000. 1. What amount of income will Anna report in her quarterly income tax return? a. P80,000 b. P110,000 c. P120,000 d. P150,000 2. If Anna, opted to use 8% rate, how much is her income tax due in her quarterly ITR? a. P6,400 b. P8,800 c. P9,600 d. P12,000Yolanda is a cash basis taxpayer with the following transactions during the year: Cash received from sales of products $66,000 Cash paid for expenses (except rent and interest) 40,000 Rent prepaid on a leased building for 18 months 45,000 beginning December 1 Prepaid interest on a bank loan, paid on 5,000 December 31 for the next 3 months Calculate Yolanda’s income from her business for this calendar year. Sales income $_____________ Expenses: Other than rent and interest $______________ Rent $_____________________ Interest $__________________ Net income $_______________Last year Diane's annual income was $92,052. Use the following Income Tax table to calculate how much Daan paid last year in income tax. In the image. Round your answer to the nearest dollar. Only enter the number. Do not enter the dollar sign. For example: 11,526
- Jim Lawler spends 23% of his income on housing, 10% on food, 9% on clothing, 17% on transportation, 12% on education, 8% on recreation, 6% on miscellaneous, and saves the balance. If his savings amount to $220 per month, what are his monthly earnings?Ed and Marta are paid $2 comma 410 after taxes every month. Monthly expenses include $777 on housing and utilities, $395 for auto loans, $164 on food, and an average of $713 on clothing and other variable expenses. Assuming that they save excess funds, calculate and interpret their savings ratio. Hint: Prepare an income statement, and then compute the ratio.Calculate the paychecks below: 1. Bob is paid an annual salary of $50,000 and taxes are 20%. a. How much is his GROSS Monthly Pay? b. How much is withheld for taxes? c. What is his NET Monthly pay? 2 Manl