Maurice Tutor

(5)

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Aug 2017 My Price 4.00

percentage of profits

20.   LO.1 In 2015, Aurora received a $25,000 bonus computed as  a percentage  of prof- its.  In  2016,  Aurora’s  employer  determined  that  the  2015  profits  had been incorrectly computed, and Aurora had to refund the $8,000 in 2016. Assume that Au- rora was in the 35% tax bracket in 2015 but in the 15% bracket in 2016.

a.      In 2015, how much is Aurora required to include in income?

b.     In 2016, what is the amount of the deduction Aurora can claim? What is the reduction in taxes for 2016 as a result of the deduction?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Aug 2017 09:08 PM My Price 4.00

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