1. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
How do you think we build a future? I think we build it by investing in our kids and investing in education.

2. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Final Exam
Question 1.1. (TCOs 2 & 3) Evelyn sold her personal residence to Drew on March 1 for $300,000. Before the sale, Evelyn paid the real estate taxes of $3,000 for the calendar year. For income tax purposes, the real estate tax deduction is apportioned as follows: $750 to Evelyn and $2,250 to Drew. Drew's basis in the residence is: (Points : 5)
Question 2.2. (TCOs 3, 4, 5, & 7) In the current year, Galaxy Corporation, a closely held C corporation that is not a personal service corporation, has $80,000 of passive losses, $60,000 of active business income, and $10,000 of portfolio income

3. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Midterm 2 NEW
1. (TCO 9) Which of the following is NOT a characteristic of the audit process?
2. (TCO 9) A characteristic of fraud penalties is:
3. (TCO 1) The Internal Revenue Code was codified for the first time in what year?
4. (TCO 1) Subchapter S covers which specific area of tax law?
5. (TCO 11) Which of the following taxpayers may file as a head of household in 2008?

4. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Midterm 3 NEW
1. (TCO 9) Trent files his tax return 35 days after the due date. Along with the return, Trent remits a check for $8,000, which is the balance of the tax owed.
Disregarding the interest element, Trent's total failure to file and to pay penalties are:
2. (TCO 9) A characteristic of fraud penalties is:
3. (TCO 1) Tax bills are handled by which committee in the U.S. Senate?
4. (TCO 1) Which statement is false with respect to tax treaties?
5. (TCO 11) Emily, whose husband died in December 2008, maintains a household in which her dependent daughter lives.

5. ACCT 324 ACCT 324 Slingshot Academy www.snaptutorial.com
ACCT 324 Week 2 You Decide Assignment
ACCT 324 Week 2 You Decide Assignment

6. ACCT 324 ACCT 324 Slingshot Academy www.snaptutorial.com
ACCT 324 Week 3 Homework Assignment Chapter 10 and 12
ACCT 324 Week 3 Homework Assignment Chapter 10 and 12

7. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Week 4 Homework
Chapter 9: Problem #47
Christine is a full-time teacher of the fourth grade at Vireo Academy. During the current year, she spends $1,400 for classroom supplies. On the submission of adequate substantiation, Vireo reimburses her for $500 of these expenses—the maximum reimbursement allowed for supplies under school policy. [The reimbursement is not shown as income (Box 1) of Form W-2 given to Christine by Vireo.]

8. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Week 5 Homework
Chapter 12 Discussion #1
LO.1 Priscilla was recently promoted and received a substantial raise. She talks to her tax adviser about the potential tax ramifications. After making some projections, her adviser welcomes her to the AMT club. Priscilla believes that it is unfair that she must pay more than the regular income tax, as she is a “HENRY” (high earner not rich yet) with substantia] college-related debts.

9. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Week 6 Homework
Chapter 14
36. LO.1, 2 Which of the following results in a recognized gain or loss?
b. Adam sells his personal residence (adjusted basis of $150,000) for $100,000.
c. Carl's personal residence (adjusted basis of $65,000) is condemned by the city. He receives condemnation proceeds of $55,000.
d. Olga's land is worth $40,000 at the end of the year. She had purchased the land six months earlier for $25,000.

10. ACCT 324 ACCT 324 Slingshot Academy www.snaptutorial.com
ACCT 324 Week 7 Course Project
ACCT 324 Week 7 Course Project.pdf

11. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
ACCT 324 Week 8 Final Exam
Question 1.1. (TCOs 2 & 3) Evelyn sold her personal residence to Drew on March 1 for $300,000. Before the sale, Evelyn paid the real estate taxes of $3,000 for the calendar year. For income tax purposes, the real estate tax deduction is apportioned as follows: $750 to Evelyn and $2,250 to Drew. Drew's basis in the residence is: (Points : 5)
Question 2.2. (TCOs 3, 4, 5, & 7) In the current year, Galaxy Corporation, a closely held C corporation that is not a personal service corporation

12. ACCT 324 Slingshot Academy
ACCT 324 Slingshot Academy
How do you think we build a future? I think we build it by investing in our kids and investing in education.
For more best Courses / Tutorials
Visit Now