Lesson_4

Lesson_4 - P53 a. Manny should include $160,000 in gross...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Q6. In 2008 if the employer recognizes the income when employee collects in 2008 Q23. The annuity of $8,000 must be included in the gross income since the investment is recovered P35 a. Include $800 in gross income since the check is cash equivalent b. Include $800 in gross income since the check is cash equivalent c. Do not include $800 in gross income because restrictive condition placed on it.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: P53 a. Manny should include $160,000 in gross income b. Wanda should include $100,000 in gross income c. Jacob can exclude $900,00 from gross income P55 $98,910 Salary $90,000 Unemployment compensation $6,800 interests income $60 dividend $550 Lottery gain $1,500 $98,910...
View Full Document

This note was uploaded on 12/19/2009 for the course ACCT 3221 taught by Professor Armentor during the Spring '08 term at LSU.

Ask a homework question - tutors are online