Ask Question
9 July, 00:27

Justin Peter earned a salary of $30,000 during 2019. During the year, he was required by his employer to take several overnight business trips, and he received an expense allowance of $1,500 for travel and lodging. In the course of these trips, he incurred the following expenses which were either adjustments to income or deductions from adjusted gross income. Travel $1,100 Lodging 500 Entertainment of customers 400 What is Justin's adjusted gross income if he does not account to his employer for the expenses

A $30,000B $29,900C $29,500D $31,500

+2
Answers (1)
  1. 9 July, 00:48
    0
    The answer is: D) $31,500

    Explanation:

    If Justin didn't account his expenses to his employer, then any extra amount given to him should be added to his gross income. In Justin's case his gross income should be $31,500 ($30,000 + $1,500). On the other hand, if he would have accounted his expenses to his employer, then the $1,500 wouldn't be added to his gross income.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Justin Peter earned a salary of $30,000 during 2019. During the year, he was required by his employer to take several overnight business ...” 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