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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

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Answer:

a

Explanation:

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I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
An express warranty is created when a seller: makes an affirmation of fact or promise concerning the goods that becomes part of
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Question:

An express warranty is created when a seller:

A) makes an affirmation of fact or promise concerning the goods that becomes part of the basis of the bargain.

B) uses descriptive terms as a part of the bargaining process, but the buyer does not take it into consideration when making the purchase.

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D) avoids using a sample or model as the basis for the contract.

Answer:

The correct choice is A)

An express warranty is created in the contract when a supplier makes a promise concerning the goods that the buyer can hold on to as an incentive to purchase the product.

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For example, if a consumer buys a Laptop online, but when it arrives the item is the wrong specifications, wrong color, or is dented or damaged in anyway, an <em>express warranty</em> might entitle the consumer to a refund or replacement.

This warranty usually is stated upfront prior to or during the execution of the sales transaction.

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