Juanita,single and Age 43,had the Following Items for 2014

question 5

Essay

Juanita,single and age 43,had the following items for 2014:
Compute Juanita's taxable income for 2014.

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Definitions:

Bank Statement

A report issued by a bank detailing the transactions in a customer's account over a specific period.

Deposit In Transit

Money that has been received and recorded by a business but has not yet been recorded by its bank.

Outstanding Checks

Checks that have been written and recorded in the issuing entity's books but have not yet been cashed or cleared by the bank.

Note Receivable

A written promise for amounts to be received, typically outlining the terms including payment amounts, interest rate, and due date.