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Pavlova-9 [17]
3 years ago
5

Rhett made his annual gambling trip to Uwin Casino. On this trip Rhett won $250 at the slots and $1.200 at poker. Also this year

, Rhett made several trips to the racetrack, but he lost $700 on his various wagers. What amount must Rhett include in his gross income? Multiple Choice
a. 08 Zero - gambling winnings are not included in gross income
b. $1,450
c. $250
d. $750
d. $1,200
Business
1 answer:
kogti [31]3 years ago
3 0

Answer:

b. $1,450

Explanation:

Data provided as per the question

Winnings in slot = $250

Winnings in poker = $1,200

The computation of gross income is shown below:-

Total amount in Gross Income = Winnings in slot +  Winnings in poker

= $250 + $1,200

= $1,450

Therefore for computing the total amount in gross income we simply add winning in slot with winning in poker.

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Explanation:

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8 0
3 years ago
d (i). Suppose that ZX Inc. is currently selling at $50 per share. You buy 200 shares, using $5,000 of your own money and borrow
strojnjashka [21]

Answer:

-21%

Explanation:

Initial share price = $50

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net return = (200 x $46) - $10,000 - ($5,000 x 5%) = $9,200 - $10,000 - $250 = -$1,050

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8 0
3 years ago
Which two tasks does a public affairs officer do?
spayn [35]

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8 0
3 years ago
You invested 50% of the wealth in stock A and the remaining 50% in stock B. The expected rates of returns on A and B are given b
tresset_1 [31]

Answer:

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Explanation:

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= 2000 + 2001 + 2002 +  2003

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