All categories

3 years ago

Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income?

Business

1 answer:

Masja [62]3 years ago

8 0

Answer:$100,000 in cash received by Cassie when her grandmother died.

Explanation: In preparing federal income tax return, there are some income that are excepted from tax and they include:

1. Any payment received as an inheritance

2. Cash gift for the purchase of a property

3. Income received as compensation for loss.

4. Income earned outside the taxing jurisdiction.

You might be interested in

Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases.

AysviL [449]

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

The statement "<span>Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases. " is true </span>

7 0

3 years ago

1 if we want to fill the post, we'll have to........ ........ a qualified technician

KATRIN_1 [288]

Answer:

1. hire

2. charges

3. get

4. support

5. mentioned

6. all

Explanation:

The company wants to hire a qualified technician for the vacant post. The management and workers both support the strike for common purpose. The reports need to be carefully written and all mentioned facts should be reported correctly.

5 0

2 years ago

Which of the following strategic foreign facilities is set up in a location with an abundance of advanced suppliers, competitors

katen-ka-za [31]

Answer:

b. Server factory

Explanation:

Server factory is setup in a location possessing advanced suppliers, competitors and research and knowledge centers to provide proper knowledge regarding any thing that is new.

3 0

3 years ago

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the ____________

bearhunter [10]

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

<h3>Payable cash account</h3>

Based on the information given the appropriate journal entry to record a customer's check in full payment for a sale is:

Journal entry

Debit Payable Cash account

Credit Sales accounts

(To record customer's check in full payment)

Inconclusion to record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

Learn more about payable cash account here:brainly.com/question/4656883

6 0

2 years ago

If the beginning Cash account balance of Moonbeam, Inc. was $40,000, the ending balance was $67,200, and the total cash paid out

lara [203]

Answer:

Cash Received during the period = $155200

Explanation:

The amount of receipts or cash received during the period can be calculated using the following formula.

Cash Received = Closing Balance + Cash Disbursements - Opening Balance

Cash Received = 67200 + 128000 - 40000

Cash Received = $155200

So, the cash receipts during the period are $155200.

7 0

3 years ago