Danny received the following interest and dividend payments this year. What amount should Danny include in his

Question:

Danny received the following interest and dividend payments this year. What amount should Danny include in his gross income?

Source Amount
City of Atlanta bond interest $1,200
U.S. Treasury bond interest 500
State of Georgia bond interest 1,000
Ellis Company common stock dividend 400
Row Corporation bond interest 600

a. $2,500
b. $1,500
c. $3,700
d. $2,200

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

Fantastic news! We've Found the answer you've been seeking!