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
max2010maxim [7]
3 years ago
15

Arnold was employed during the first six months of the year and earned a $90,000 salary. During the next 6 months he collected $

7,200 of unemployment compensation, borrowed $6,000 (using his personal residence as collateral), and withdrew $1,000 from his savings account (including $60 interest). When he left his former employer, he withdrew his retirement benefits (a qualified annuity) in a lump-sum of $50,000. He made no contributions to the plan. Arnold’s parents loaned him $10,000 (interest free) on July 1 of the current year, when the Federal rate was 3%. Arnold did not repay the loan during he year and used the money for living expenses. Calculate Arnold’s adjusted gross income for the year.
Business
1 answer:
Setler [38]3 years ago
4 0

Answer:

$147,260

Explanation:

Salary$ 90,000

Unemployment compensation $7,200

Interest income $60

Retirement benefit $50,000

Adjusted gross income $147,260

Therefore Arnold’s adjusted gross income for the year is $147,260 although the

interest-free loan does not result in gross income to Arnold due to the $10,000 exception.

You might be interested in
Recommendations for a successful pitch include all of these except:​
Inga [223]
The answer is letter a, it is because when doing a successful pitch or in order to achieve one, a person is not even required to stand behind a podium as it does not necessarily need or refer to a specific place to stand on when delivering a pitch but it is more important to show the product or service to attract the consumers.
8 0
3 years ago
Please help me.
Fudgin [204]
A. INCREASE Inventory
4 0
3 years ago
Read 2 more answers
Which type of Financial Aid am I? I am given to students who come from lower-income families and I do not need to be repaid. *
Bas_tet [7]
Grant. A grant, is a form of financial aid that doesn’t have to be repaid.
8 0
4 years ago
A firm offers a 10-year, zero coupon bond with a face value of $1,000. What is the current market price if the yield to maturity
viva [34]

Answer:

Current market price is  474.30  

Explanation:

The current price of the bond can be computed using the pv function in  excel as stated thus:

=-pv(rate,nper,pmt,fv)

rate is semiannual yield to maturity which is 7.6%/2

nper is the 10 years of bond tenure multiplied by 2

pmt is the coupon payable which is zero

fv is the face value of the bond which is $1000

=-pv(7.6%/2,20,0,1000)=$ 474.30  

7 0
3 years ago
You ask your subordinates how long it will take to complete the job they are working on. the subordinates say, "if everything go
Elan Coil [88]

Answer: 8 hours

Using only three activity time estimations, the expected time for this job can be estimated using a mean or a median. If we use the mean, we add 3 estimates ((6,8 and (16+8)) and divide the sum by 3 (equals 13). If we use the median, expected time is 8 hours. In this case, where have extreme estimates, it is better to use the median, the number halfway in to the set which is 8.

7 0
3 years ago
Other questions:
  • A supervisor who wants to measure the performance of his current employees will probably not use
    7·2 answers
  • Firms use economic analyses to better understand the overall outlook for the economy and how economic changes will impact the fi
    7·1 answer
  • Kwan wants to open a new business in his own country, Singapore. He has decided on a form of licensing that will provide him wit
    8·1 answer
  • According to McGregor which of the following characterizes the assumptions of a Theory X manager?
    10·1 answer
  • Henry has been newly appointed as the head of the HR team at AAS Technologies. In an attempt to establish a more efficient and r
    11·1 answer
  • Whispering Company sells goods that cost $301,000 to Ricard Company for $402,000 on January 2, 2020. The sales price includes an
    6·1 answer
  • ECNAL Corp. manufactures bicycle parts. One of its new products, the Slipstream tire, is advertised to be 20 percent stronger th
    12·1 answer
  • Over the last 5 years, a client has bought 200 shares of XYZ Mutual Fund each year in a taxable account and has elected to have
    5·1 answer
  • Terry Dactal has compiled the financial information displayed below. Which of the following is Terry’s net worth? Salaries $72,4
    13·1 answer
  • Read the graph. What is the equilibrium price?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!