Report: accounting midterm examaccounting midterm examby
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examaccounting midterm examMIDTERM EXAM8Running head: MIDTERM
EXAM1Midterm ExamNameCourseDateMidterm ExamQuestion 1Salary55000+
Interests on bank account+300+ Tax-exempt interest+200Total
income55,500- Tax-exempt interestReport was generated on Monday,
Jul 8, 2019, 2:13 PMPage 3 of 13Report: accounting midterm
exam-200Gross income55,300- Deduction for AGI-3500Adjusted gross
income51,800- Itemized deductions-13000- Deduction
single-payer-12000Taxable income26,800Tax liability (12%)3,216Tax
withheld5, …