1: During 2017, Ethen had the following transactions: Salary $70,000 Child support received $6,000 Inheritance from Uncle
Question:
1: During 2017, Ethen had the following transactions:
Salary $70,000
Child support received $6,000
Inheritance from Uncle $40,000
Damage award for injuries by a city bus $20,000 Crystal's AGI is:
Group of answer choices
$70,000.
$90,000.
$111,000.
$136,000.
None of the above.
2: During 2017, Nisha had the following transactions:
Salary $50,000
Interest on City of Lansing bonds $ 1,000
Repayment received on a loan made to cousin several years ago $ 2,000
Life insurance proceeds received on uncle's death (Nisha was the named beneficiary of the policy) $ 100,000 Nisha's AGI for 2017 is:
Group of answer choices
$153,000.
$150,000.
$53,000.
$52,000.
None of the above.
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso