ACCT Notes
02/12/2008 14:58:00
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Final Exam:
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35 Questions from TAX (outline + notes only)
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5 Questions from Debits/Credits (CH.4)
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Rules and JE’s
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5 Questions on FIFO/LIFO
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Ending inventory cost calculations
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5 questions Break Even Analysis
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BE $
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BE Vol
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BE DP $
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BE DP Vol
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TOTAL 50 QUESTIONS
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Itemized Deductions
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Medical Expenses – 7.5% of AGI Floor
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Taxes – No Floor
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Income – State, Local, Foreign
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Property – (based on value)
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Sales – (for those who don’t pay state income taxes)
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Interest
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Donations – must be to a qualified charity
Limited to 50% of AGI
Non cash items count as a donation
o
Casualty and Theft losses
$100 per event (two floors)

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10% of AGI ~ waved for Katrina victims
o
Miscellaneous
Subject to 2% of AGI floor
Unreimbursed employee business expenses


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- Fall '08
- Holmes
- Accounting, Break Even Analysis, theft, AGI floor, itemized deductions
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