Ask Question
11 August, 16:29

Wes was a major league baseball pitcher who earned $10 million for his 20 wins this year. Sam was also a major league baseball pitcher before a career-ending injury caused by a negligent driver. Sam sued the driver and collected $6 million as compensation for lost estimated future income as a pitcher and $4 million as punitive damages.

a. Do the amounts that Wes and Sam receive have the same effect on their gross income?

No

b. Enter the amount, if any, to be included in the gross income for Wes and Sam.

Note: Enter your answer in millions.

Wes: $ 10 Million

Sam:

$X Million

The answer is not 25 million

+2
Answers (1)
  1. 11 August, 16:51
    0
    Answer: A. No

    B. Wes $10million, Sam $4million

    Explanation:

    For individuals and households, gross income is the total sum of all salaries, wages, interest payments, profits, rents, and other forms of earnings, before any taxes or deduction is made. The amount Wes and Sam receive does not have the same gross income, this is because Wes receives $10million and Sam receives $4million
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Wes was a major league baseball pitcher who earned $10 million for his 20 wins this year. Sam was also a major league baseball pitcher ...” 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