College of Administration and Finance Sciences
Assignment (3)
Deadline: Saturday 13/08/2022 @ 23:59
Course Name: Tax and Zakat Accounting
Students Name:
Course Code: ACCT 422
Students ID Number:
Semester: Summer
CRN:
Academic Year: 1443 H
For Instructors Use only
Instructors Name: Rabab Farrash
Students Grade:
/10
Level of Marks: High/Middle/Low
Instructions PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 10)
Q1. -Describe five major income exclusions. (According US Tax Law) (5 Marks)
Q2. Richard is a single taxpayer provided the following information for 2013:
Salary
Interest on local government bonds
(qualifies as a tax exclusion)
Allowable itemized deductions
Personal exemption
Required:
What is his taxable income? ( 5 Marks)
$88,000
$7000
$15,000
$3,900
College of Administration and Finance Sciences
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