Roberto is one of the income beneficiaries of the Carol LeMans Estate. This year, as directed by the will, Roberto received all of the sales commissions that were earned and payable to Carol (cash basis) at her death, as well as one of three remaining installment payments. Compute Roberto's gross income attributable to Carol's activities for the current year, given the following financial data.<\/p>
Sales commissions receivable $40,000 Ordinary gain, $60,000, on installment sale; first of three payments received this year 20,000 <\/p>
<\/p>
Roberto's gross income attributable to Carol's activities for the current year is $._____<\/p>", "transcribed_text": "", "related_book": { "title": "Financial and Managerial Accounting the basis for business decisions\t ", "isbn": "0077664078, 978-0077664077, 78111048, 978-0078111044", "edition": "16th edition", "authors": "Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/290.jpg", "uri": "\/textbooks\/financial-and-managerial-accounting-the-basis-for-business-decisions-16th-edition-290", "see_more_uri": "" }, "free_related_book": { "isbn": "1942830459", "uri": "\/textbooks\/complete-curriculum-success-grade-6-learning-workbook-for-sixth-grade-students-english-math-and-science-activities-children-book-1st-edition-978-1942830450-379209", "name": "Complete Curriculum Success Grade 6 Learning Workbook For Sixth Grade Students English Math And Science Activities Children Book", "edition": "1st Edition" }, "question_posted": "2024-06-17 07:16:43", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-drum-lifter-shown-is-used-to-lift-steel", "description": "The drum lifter shown is used to lift a steel drum. 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