Question
During the year, Kim sold the following assets: personal auto for a $8,000 gain, stock investment for a $10,000 loss, and pleasure yacht for a
During the year, Kim sold the following assets: personal auto for a $8,000 gain, stock investment for a $10,000 loss, and pleasure yacht for a $3,000 loss. His Adjusted Gross Income before considering the above is $50,000. What is his Adjusted Gross Income after taking these into account?
|
| $45,000 |
|
| $48,000. |
|
| $40,000. |
|
| $47,000 |
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
