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Marvin had the following transactions: Salary $90,000 Bank loan (used to buy personal auto) $10,000 Received a cash gift from aunt Marge $20,000 Paid alimony
Marvin had the following transactions:
| Salary | $90,000 |
| Bank loan (used to buy personal auto) | $10,000 |
| Received a cash gift from aunt Marge | $20,000 |
| Paid alimony to his ex-spouse (divorce settled in 2017) | $12,000 |
| Paid child support | $12,000 |
Marvin's AGI is:
A.
$66,000
B.
$76,000
C.
$78,000
D.
$88,000
E. $100,000
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
