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ACC 613 Grand Canyon Week 2 Complete Work


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Description

ACC 613 Grand Canyon Week 2 Complete Work

ACC613

ACC 613 Grand Canyon Week 2 Discussion 1

Compare and contrast realization of income for income tax purposes with recognition of income for financial accounting purposes.

 

ACC 613 Grand Canyon Week 2 Discussion 2

Gambling losses are miscellaneous deductions not subject to the AGI floor. Explain why this is the case. Is there a social purpose to not limiting gambling loss deductions? Discuss the fact that gambling losses are not limited to the AGI floor but unreimbursed employee business expenses are. Include references to any tax code or publications that you use for your answer.

ACC 613 Grand Canyon Week 2 Assignment Problems

Details:

Complete the following problems at the end of each chapter:

Chapter 4: Comprehensive Problem 54

Chapter 5: Comprehensive Problem 75

Chapter 6: Comprehensive Problem 65

The assignment should be completed in an Excel spreadsheet, with one

The assignment should be completed in an excel spreadsheet, with one problem on each tab. Attached the Form 1040 page 1 for Problem 5-75 separately or copy in to the spreadsheet. You must show your work, with notes on how you completed the problem. Specifically, indicate which items you did not include in your calculations because they were not taxable and explain items that are excluded or limited.

An example of a completed tax template and the related Form 1040 and schedules are available under Resources>Course Materials>Course Add-ons. Demonstrations are available in the module readings and Course Materials.

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