FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In april, a truck hit Taylor while she was walking on the crosswalk. she then filed a law suit against the company, she recieved an

In april, a truck hit Taylor while she was walking on the crosswalk. she then filed a law suit against the company, she recieved an award of 75k including 23k of punitive damages, 2k for medical expenses with the accident and 50k for emotional distress

how much of the amount she recieved is included in her gross taxable income

52k

23k

0

75k

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions

Question

3. In light of the many existential problems confronting the nation and the world, is this a propitious time to rebuild the public service?

Answered: 1 week ago

Question

★★★★★
Chesterfield County had the following transactions. Prepare the entries first for fund-based financial statements and then for government-wide financial statements. a. A budget is passed for all...

Answered: 1 week ago

Question

★★★★★
In april, a truck hit Taylor while she was walking on the crosswalk. she then filed a law suit against the company, she recieved an award of 75k including 23k of punitive damages, 2k for medical...

Answered: 1 week ago

Question

★★★★★
determine the 95% confidence interval for the population mean systolic blood pressure of uni students if a representative sample of size 49 had a mean of 125mmHg with a sample standard deviation of...

Answered: 1 week ago

Question

★★★★★
20.Assume fifty years supply commodity Q at location I and fifty at location II. The cost of producing output q i for the i th firm (in either location) is 0.5 . The cost of transporting the...

Answered: 1 week ago

Question

★★★★★
Non-medical professionals working at hospitals should be taught basic medical skills and utilized as surge-support in emergency units during times of crises. These employees may be provided formal...

Answered: 1 week ago

Question

★★★★★
Figure shows the light intensity on a screen behind a circular aperture. The wavelength of the light is 500 nm and the screen is 1.0 m behind the slit. What is the diameter (in mm) of the aperture?...

Answered: 1 week ago

Question

★★★★★
Now that you know the basics of how these four types of savings accounts work, let's take a closer look at how these accounts compare against each other at your favorite bank or credit union. Select...

Answered: 1 week ago

Question

★★★★★
Comparison of the remittance advice to the expected payment for services rendered is referred to as: Question 9 options: a) Balancing b) Claims Reconciliation c) Collections d) Adjudication

Answered: 1 week ago

Question

★★★★★
9. Refer to the payoff matrix in discussion question 3. First, assume this is a one-time game. Explain how the $60/$57 outcome might be achieved through a credible threat. Next, assume this is a...

Answered: 1 week ago

Question

★★★★★
1. Why do oligopolies exist? List five or six oligopolists whose products you own or regularly purchase. What distinguishes oligopoly from monopolistic competition? LO14.1

Answered: 1 week ago

Question

★★★★★
LO14.6 Utilize additional game-theory terminology and demonstrate how to find Nash equilibriums in both simultaneous and sequential games.

Answered: 1 week ago

Previous Question Next Question