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
Eva8 [605]
3 years ago
8

George, an unmarried cash basis taxpayer, received the following amounts during 2016:Interest on savings accounts$2,000Interest

on a State bond600Interest on City of Salem school bonds350Interest portion of proceeds of a 5% bank certificate of deposit purchased on July 1, 2015, and matured on June 30, 2016250Dividends on USG common stock300What amount should George report as gross income from dividends and interest for 2016?a. $2,550b. $3,500c. $3,150d. $2,300e. None of these choices are correct.
Business
1 answer:
madreJ [45]3 years ago
5 0

Answer:

c. $3,150

Explanation:

The computation of the gross income is shown below:

= Interest on savings accounts + Interest on a State bond + Interest portion of proceeds of a 5% bank certificate of deposit + Dividends on USG common stock

= $2,000 + $600 + $250 + $300

= $3,150

We do not consider the school bonds as it would not be included in the gross income. So, we ignored it

You might be interested in
During the ________ stage of group development, work behaviors evolve into a sharing of information, acceptance of different opi
Rina8888 [55]
During the NORMING stage of group development, work behaviors evolve into a sharing of information, acceptance of different opinions, and positive attempts to make decisions that may require compromise, as the members set the rules by which the team will operate.
8 0
3 years ago
Read 2 more answers
The average wholesale price a company is charging camera retailers for its models is deemed to be competitive with the average w
svp [43]

Their average wholesale price can be said to be competitive if it is below the all-company average wholesale price in that geographic region.

<h3>When is a price considered competitive?</h3>
  • It means that the price is better than others in the market for a certain good or services.
  • It is lower than the average price offered by other sellers.

The company is therefore charging a lower than average price which is why it is competitive with others because they will be forced to lower prices to maintain sales.

In conclusion, option A is correct.

Find out more on markets that allow competitive pricing at brainly.com/question/24877850.

7 0
2 years ago
Beatrice invests $1,410 in an account that pays 3 percent simple interest. How much more could she have earned over a 4-year per
mixas84 [53]

Answer:

$7.77

Explanation:

The answer would be the difference between compound and simple interest

Simple interest = principal x time x interest

$1,410 x 0.03 x 4 = $169.20

Compound interest = future value - present value

future value = Principal ( 1 + interest)^n

$1,410 ( 1.03)^4 = $1586.96

$1586.96 -$1,410 = $176.97

Difference = $176.97 - $169.20 = $7.77

4 0
2 years ago
Mallard Corporation uses the product cost concept of product pricing. Below is cost information for the production and sale of 4
boyakko [2]

Answer:

d. 96,000

Explanation:

Provided required rate of return on investments of $800,000 = 12%

Now desired profit = $800,000 X 12% = $96,000

therefore when fixing the price per unit this profit shall be added, and then reverse calculation is done.

With this we can get the desired profit.

At the last the total of cost and profit shall be divided by number of units to get the selling price per unit.

Therefore desired profit in dollars = $96,000

6 0
3 years ago
Read 2 more answers
1
ValentinkaMS [17]

Answer:

B.enables production to be ahead of demand.

Explanation:

<em>One of the benefits of a wholesale warehouse in the chain of distribution is that it </em><em>enables production to be ahead of demand</em><em>.</em>

A warehouse generally represents a large house where goods/products are kept prior to their distribution for sale.

The use of a warehouse offers several advantages to producers. These include:

  • adequate protection and preservation of products
  • regular flow of goods irrespective of their period of production
  • continuity in the production process in order to stay ahead of market demand
  • easy handling of products
  • etc.

<em>Hence, the correct option is B.</em>

4 0
3 years ago
Other questions:
  • POINTS OMG OMG 32 POINTS!!!! HELP QUICK FOR BRAINLIEST (ECONOMICS)
    11·1 answer
  • Which one of the following statements is CORRECT? A Since companies can deduct dividends paid but not interest paid, our tax sys
    9·1 answer
  • The set of business activities that adds value to products and services sold to consumers for their personal or family use is re
    8·1 answer
  • Which type of portfolio might a young investor who is not afraid of risk choose?
    11·1 answer
  • Henry has a $10,000 car insurance policy with a $400 per claim deductible. Henry is involved in an accident, and his car sustain
    15·1 answer
  • Pioneer or breakthrough products:___________
    13·1 answer
  • Gorton's sells Gorton's Fish Sticks, Gorton's Fish Fillets, and Gorton Grilled Fish. This is an example of
    5·1 answer
  • Hubert: Demand decreased, but it was perfectly inelastic. Kate: Demand decreased, but supply was perfectly inelastic. Manuel: De
    13·1 answer
  • You live in Atlanta, GA and work for a company which has multiple locations nationwide. The owner of the company tells you on a
    9·1 answer
  • The financial statement that reports the revenues and expenses for a period of time is known as the.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!