1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Strike441 [17]
3 years ago
11

Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond. What is the amoun

t of Sally's gross income from these items?
A) $400
B) $50,000
C) $50,400
Business
1 answer:
VLD [36.1K]3 years ago
5 0

Answer:

C) $50,400

Explanation:

If Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond, then the amount of Sally's gross income from these items is $50,400

Sally's income taxable is not only her employment compensation but also the interest she earns from a corporate bond is subject to income tax.

You might be interested in
Miles uses the allowance method and wrote off the account of james. miles then received $559 as partial payment on the account o
Amanda [17]
<span>The journal entry to record the initial write-off includes is allowance for doubtful accounts. Allowance for doubtful accounts is a contra account to accounts receivable, and therefore has debit balance. It also needs to be diminished because you already used the bad debt when you make the allowance.</span>
6 0
3 years ago
When the indirect method is used, if accounts receivable increases during the accounting period, the change in accounts receivab
liberstina [14]
The answer is that "<span>the change in accounts receivable is subtracted from net income".
</span>

<span>When the indirect method is used, the starting point is the net income and it is transformed to cash flows from operational actions by adding back losses and subtracting gains so that these quantities are removed.</span>

4 0
3 years ago
On january 2, 2017, the matthews band acquires sound equipment for concert performances at a cost of $68,200. the band estimates
lesantik [10]

It estimates that after five years it can sell the equipment for $2,000. During year 2017, the band performs 55 concerts.

7 0
3 years ago
In order to make a resume persuasive and not self-centered omit the use of the word ____.
KengaRu [80]
In order to make a resume persuaisive and not self-centered omit the use of the word I,ME and My

so the answer is: D all of the above
7 0
3 years ago
Read 2 more answers
What are the impact of SMEDAN on entrepreneurship
daser333 [38]
You can easily apply for loans and support funds both within and outside the country. It also grants you access to funding from the government and private sector.
6 0
1 year ago
Other questions:
  • A flower shop makes a large sale for $1,500 on June 30. The customer is sent a statement on July 5 and a check is received on Ju
    12·1 answer
  • Twilight Co. started operations in 2017 and has the following information at the end of June, 2021: $420,000 in its Accounts Rec
    14·1 answer
  • Crystal is teaching a newly promoted supervisor how to use the company’s performance management system. The supervisor asks Crys
    8·1 answer
  • Rick's wholesale office supplies prefers to handle its accounts receivable itself, but it also needs to use them to facilitate s
    6·1 answer
  • The article discusses three core financial implications of the business model. What are the three core financial implications, a
    14·1 answer
  • Match the correct economic terms to their descriptions.
    6·2 answers
  • Select three of the following that are listed as sensitive sites in the location and transportation (LT) category that should be
    7·1 answer
  • A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used
    8·1 answer
  • Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of Septembe
    10·1 answer
  • Tina, Jack, and Jade were just about to deliver a presentation together. Tina said, "Remember to emphasize our need for a larger
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!