Question
Allison had the following transactions during 2019: Salary $90,000 Bank loan obtained to pay for car purchase 30,000 Interest income on bonds Issued by City
Allison had the following transactions during 2019:
| Salary |
| $90,000 |
| Bank loan obtained to pay for car purchase |
| 30,000 |
| Interest income on bonds |
|
|
| Issued by City of Nashville | $4,000 |
|
| Issued by Procter & Gamble Corporation | 5,000 | 9,000 |
| Child support received |
| 6,000 |
| Capital gain from stock investment, held for 4 months |
| 3,500 |
| Alimony received (divorce finalized in 2011) |
| 5,000 |
| Inheritance received from Grandpa George |
| 20,000 |
| Charitable contributions paid to church |
| (5,000) |
What is Allisons AGI for 2019? Show and label all calculations. For all items you exclude from the calculation, explain why. (8 points)
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Essentials Of Statistics For The Behavioral Sciences
Authors: Frederick J Gravetter, Larry B. Wallnau
8th Edition
9781133956570
