Kris quit his job in November of Year 1 to take care of the children after...
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Kris quit his job in November of Year 1 to take care of the children after Kris's spouse. Janice, was killed in a car accident. On January 1, Year 2. Kris sells the large house they have lived in for the last five years and moves about 300 miles away to rent a smaller house near Kris's parents in Smalltown, Florida. Kris started a new full-time job on July 1. Year 2. Kris has the following income and expense items for Year 2: Wages Donations received from the community Life insurance proceeds Gain on the sale of principal residence Moving expenses $17,500 $15,000 $ 20, 000 $ 50,000 ($ 2,500) What is Kris's adjusted gross income for Year 2? Multipie Choice $15,000 $17,500 $30,000 Kris quit his job in November of Year 1 to take care of the children after Kris's spouse. Janice, was killed in a car accident. On January 1, Year 2. Kris sells the large house they have lived in for the last five years and moves about 300 miles away to rent a smaller house near Kris's parents in Smalltown, Florida. Kris started a new full-time job on July 1. Year 2. Kris has the following income and expense items for Year 2: Wages Donations received from the community Life insurance proceeds Gain on the sale of principal residence Moving expenses $17,500 $15,000 $ 20, 000 $ 50,000 ($ 2,500) What is Kris's adjusted gross income for Year 2? Multipie Choice $15,000 $17,500 $30,000
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Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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