During 2018, Marvin had the following transactions: Salary $50,000 Bank loan (proceeds used to buy personal auto) 10,000 Alimony paid (divorce was finalized in 2010). 12,000 Child support paid 6,000 Gift from aunt 20,000 Marvin's AGI is: a. $38,000. b. $32,000. c. $56,000. d. $44,000. e. $64,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “During 2018, Marvin had the following transactions: Salary $50,000 Bank loan (proceeds used to buy personal auto) 10,000 Alimony paid ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What is the incidence of a tax? Question 43 options: The sum of a tax and a product's price The ratio of a tax to a product's price The levying of a tax on consumers The final burden of a tax
Answers (1)
A company's old machine that cost $30,000 and had accumulated depreciation of $22,500 was traded in on a new machine of like purpose having an estimated 20-year life with an invoice price of $38,500.
Answers (1)
Which of the following statements is false regarding the risk assessment component of internal control? a. Risk assessment includes assessing fraud risk. b. Risk assessment includes assessing internal and external sources of risk. c.
Answers (1)
Which term refers to the practice of revaluing an acquired subsidiary's assets and liabilities to their fair values directly on that subsidiary's books at the date of acquisition?
Answers (1)
What would your teacher mean if she said, "The aggregate income of all students in this class was $52,315.28 last year?"
Answers (1)
New Questions in Business
What are the three primary questions to ask when conducting a preliminary inquiry?
Answers (1)
Downtown Coffee Roasters is a premium cafe that is reputed for its superior customer service. The coffee shop also serves gourmet food to its customers, which allows it to charge a premium price.
Answers (1)
Suppose that the total production of an economy consists of 4 oranges and 10 candy bars, each orange sells for $0.25, and each candy bar sells for $0.50. What is the market value of production in this economy?
Answers (1)
a customer asks an agent for the current market value of his stock portoflio. the stock market has been dropping sharly today and the agent gives the customer the most recent valuation that he has, which is based on yesterays closing prices.
Answers (1)
Which of the following is an advantage of a sole proprietorship? Group of answer choices a. It has limited liability for the debts incurred by the business. b. It is unaffected by the death or withdrawal of its owner. c. It is hard to dissolve.
Answers (1)