College of Administration and Finance Sciences
Assignment (3)
Deadline: Saturday 13/08/2022 @ 23:59
Course Name: Tax and Zakat Accounting
Student’s Name:
Course Code: ACCT 422
Student’s ID Number:
Semester: Summer
CRN:
Academic Year: 1443 H
For Instructor’s Use only
Instructor’s 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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