Life insurance proceeds on the death of an unrelated friend $ 8,000 Interest on income tax refund
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Question:
Life insurance proceeds on the death of an unrelated friend $ 8,000
Interest on income tax refund 100
Interest on life insurance policy's accumulated dividends 300
Dividends on stock of a Swiss Corporation 500
1) How much of the life insurance proceeds should be included in gross income by the Ryans in their return?
2) How much interest income should be included in gross income by the Ryans in their return?
3) How much of the dividends are included in income by the Ryans in their return?
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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