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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

You might be interested in
The International Trade Administration provides Multiple Choice
Alja [10]

International Trade Administration provides <u>a means to help US business compete in the global marketplace.</u>

Explanation:

International Trade Association constitutes an agency under the US Dept of Commerce and was formed in 1980. It is tasked with promoting export of non-Agri services and goods to the outside market.

Other objectives of ITA include providing information to Americans to help them select markets, ensuring them access to international markets and protecting them from unfair competition from dumping and cheap imports.

ITA as a bureaucratic organisation consists of 3 sub-units. These include Industry & Analysis, Enforcement & Compliance and Global Markets

7 0
4 years ago
Wayne has bought over 15 laptop computers for himself and his family. To buy a new one he does no searching online or in any sto
V125BC [204]

Answer:

Limited.

Explanation:

Some purchase decisions are more important than others and the amount of effort we put into each differs.

Sometimes the decision-making process is done almost automatically; we seem to make snap judgements based on very little information.

-Limited Problem Solving: Usually, it also involves internal and limited external search, few alternatives, simple decision rules on a few attributes, and little post- purchase evaluation. In general, limited decision making involves recognising a problem, for which there are several possible solutions. There is an internal and limited amount of external search. Source: Solomon, Bamossy, and Askegaard,1999; Hawkins et al, 2004.

-Extended Problem Solving (EPS). Is usually initiated by motive that is fairly central to the self-concept, and the eventual decision is perceived to carry a fair degree of risk. The consumer tries to collect as much information as possible, both from memory (internal search) and from outside sources (external research). At this level, the consumer needs a great deal of information to establish a set of criteria on which to judge specific brands and a correspondingly large amount of information concerning each of the brands to be considered. Source: Solomon, Bamossy, and Askegaard,1999; Peter et al, 1999.

3 0
3 years ago
1.) If it looks like a bank won't meet the Federal Reserve Bank's reserve requirement, normally it will first turn to the: (a) o
Arada [10]

Answer: A. other member banks and borrow money at the federal funds rate

Explanation: The first thing a Bank will do when it won't be able to meet the federal reserve Bank's requirement, is to borrow money at the federal funds rate from other Banks.

Federal Reserve Bank's reserve requirement or cash reserve ratio, it the minimum amount of reserve a commercial bank is expected to hold. It is practice by most Central Banks in the world but not all. A Bank that has excess of the minimum is said to have surplus reserve.

4 0
3 years ago
Division A of Chacha Company has sales of $140,000, cost of goods sold of $83,000, operating expenses of $43,000, and invested a
KiRa [710]

Answer:

d. 0.93

Explanation:

Investment turnover is a measurement of how a company is able to generate revenue as a result of using the money invested in the company.

Investment turnover is computed by

= Net sales ÷ Invested assets

Given that;

Sales = $140,000

Invested assets = $150,000

Investment turnover = $140,000 ÷ $150,000

Investment turnover = 0.93

Therefore, investment turnover for Division A is 0.93

6 0
3 years ago
Which of the following accounts may appear on a​ post-closing trial​ balance? A. ​Cash, Salaries​ Payable, and Retained Earnings
irinina [24]

Answer:

A. ​Cash, Salaries​ Payable, and Retained Earnings.

Explanation:

Trial balance: It is prepared by company at the end of accounting year to compile all the ledger entries in debit and credit column to check accuracy of the entries.

Post trial balance: It is created to ensure sum of debit and credit entries will be equal to zero.

All the real account appear on post closing trial balance and the nominal accounts or any other account are cleared by the closing entries of trial balance.

Real accounts are:

  • Cash.
  • Account receivable.
  • Fixed assets.
  • Retained earning.
  • Account Payable.

5 0
3 years ago
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