Question
Mr. Smiths books and records for 2021 reflect the following information: Salary earned this year $65,000 Interest on savings account (credited to her account in
Mr. Smiths books and records for 2021 reflect the following information:
| Salary earned this year | $65,000 |
| Interest on savings account (credited to her account in 2021, withdrawn in 2022) | 1,000 |
| Interest on county bond earned and collected in 2021 | 2,000 |
What is the amount Mr. Smith should include in his gross income in 2021?
A) $66,000
B) $67,000
C) $68,000
D) $65,000
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
