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saw5 [17]
3 years ago
13

Arthur, age 19, is a full-time student at Gordon College and is a candidate for a bachelor's degree. During 2020, he received th

e following amounts: Tuition scholarship $2,400 Loan from college financial aid office $1,000 Cash support from parents $2,000 Ordinary cash dividend $200 Cash prize awarded from a contest $300 What is his adjusted gross income for 2020
Business
1 answer:
den301095 [7]3 years ago
4 0

Answer:

$500

Explanation:

Calculation to determine the adjusted gross income for 2020

Ordinary cash dividend $200

Add Cash prize awarded from a contest $300

Adjusted gross income $500

($200+$300)

Therefore the adjusted gross income for 2020 will be $500

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The authors describe "writing programs" as:
GrogVix [38]
<span>I would think being an author they would view writing as fun and creative. writing programs if they are fun and creative would draw more people in and they would find a way to be creaitve and have fun at the same time.</span>
5 0
3 years ago
Garcel, Inc. held unfinished inventory at a cost of $85,000 with a sales value of $125,000. The inventory will cost $10,500 to c
fiasKO [112]

Answer:

Explanation:

The following information can be gotten from the question:

Net realizable value (NRV) will be:

= $125,000 - $10,500

= $114,500

Normal profit will be:

= $114,500 - (30% × $125,000)

= $114,500 - $37,500

= $77,000

The amount should Garcel report as inventory on its balance sheet should be $77,000.

6 0
3 years ago
An asset (not an automobile) put in service in June 2019 has a depreciable basis of $1,035,000, a recovery period of 5 years, an
Irina18 [472]

Answer:

The maximum deduction is $207,000.

Explanation:

As per MACRS depreciation table 5 years half year conversion depreciation rate for first year is 20% - 100%/5 = 20%

The maximum deduction is $1,035,000 * 20% = $207,000

7 0
3 years ago
group of winning ticket holders share equally in a ​$35 comma 000 comma 000 lottery. Before the money is​ divided, two more winn
hoa [83]

Answer:

The answer is: The original group of lottery winners was made up of 5 people.

Explanation:

The total prize amount was $35,000,000 with each original winning ticket holder earning $7,000,000.

                    $35,000,000 / 5 = $7,000,000 for each winner

When 2 more winning ticket holders show up, the total prize has to be redivided to include them.

                     $35,000,000 / 7 = $5,000,000 for each winner

6 0
3 years ago
Cheapo Corporation sells products that are poorly made. Marcia, who has never bought a Cheapo product, files a suit against the
galina1969 [7]

Answer:

standing

Explanation:

Standing -

It refers to the situation , when the party who has filed the complaint on the court is not able to show any proof for the case filed , is referred to as standing .

It refers to the type of some medical report , any eye witness ,or any clue or proof against the other party , can be provided to the court .

Hence , from the given scenario of the question ,

The correct term is standing .

3 0
3 years ago
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