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Schach [20]
2 years ago
15

Andrea sued her former employer for a back injury she suffered on the job in 2019. As a result of the injury, she was partially

disabled. In 2020, she received $240,000 for her boss of future income, $160,000 in punitive damages because of the employer's flagrant disregard for the employee's safety, and $15,000 for medical expenses. The medical expenses were deducted on her 2019 return, reducing her taxable income by $12,000. Andrea's 2020 gross income from the above is:
Business
1 answer:
diamong [38]2 years ago
5 0

Answer:

$172,000

Explanation:

Calculation for what Andrea's 2020 gross income from the above is:

Using this formula

2020 gross income=Punitive damages+ Medical expenses deducted

2020 gross income=$160,000+$12,000

2020 gross income=$172,000

Therefore Andrea's 2020 gross income from the above is: $172,000

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Your supervisor has come to you with the following list of expenditures for the year and is asking you whether they should be ca
ivanzaharov [21]

Answer:

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Explanation:

1. Repainted the office building: This should be capitalized. This is because repainting is a repair that will restore the physical structure of the office building and significantly improve it. Since it is a capital improvement cost, it should be capitalized and depreciated like other fixed assets.

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8 0
3 years ago
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What is purpose of public relations?
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Answer:

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5 0
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4 0
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