In each of the following cases, certain qualifying education expenses were paid during the tax year for individuals who were the taxpayer, spouse, or dependent. The taxpayer has a tax liability and no other credits. Required: Determine the amount of the American opportunity tax credit (AOTC) and/or the lifetime learning credit that should be taken in each instance. 1. A single individual with modified AGI of $32,900 and expenses of $3,400 for a child who is a full-time college freshman,
2. A single individual with modified AGI of $44,500 and expenses of $3,800 for child who is a full-time college junior
3. A couple, married filing jointly, with modified AGI of $79,300 and expenses of $8,000 for a child who is a full-time graduate student.

What does the consumer price index measure? a. the change in prices of all goods and services over time b. the change in prices of specific goods and services over time c. the change in prices of final goods and services over time

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income ax this year