Amount of read family income is includible in gross income, Accounting Basics

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Amount of read family income is includible in gross income

The Hightown council refused to increase the town budget. Robert Reed was laid off from work on Aug 4 2010. Earlier in the year he had been temporarily disabled from a job related injury and had received disability benefits. At year end Robert Reed and his wife has the following sources of income:

Disability income 2500
Unemployment 5000
Salary 1-1 - 8-4-10 10000
Wifes salaray 9000
Supplemental unemployment from employer 3000

What amount of Read's family income is includible in gross income for 2010

A 24000

B 22000

C 27000

D 21500

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Accounting Basics: Amount of read family income is includible in gross income

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Accounting Basics: Amount of read family income is includible in gross income

Reference No:- TGS084051

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Computing any gains and losses on the sale

Q : Estimated useful life was revised from years

Q : Modified adjusted gross income for the year

Q : Calculate the cost of equity based on the cost of debt

Q : Amount of read family income is includible in gross income

Q : Total amount capitalized for the patent

Q : What amount of liability for compensated absences

Q : Amount of premium to be amortized

Q : In what was considered a hostile takeover

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Amount of read family income is includible in gross income

Reference No:- TGS084051

Recent Questions Asked Accounting Basics

Q : Computing any gains and losses on the sale

Q : Estimated useful life was revised from years

Q : Modified adjusted gross income for the year

Q : Calculate the cost of equity based on the cost of debt

Q : Amount of read family income is includible in gross income

Q : Total amount capitalized for the patent

Q : What amount of liability for compensated absences

Q : Amount of premium to be amortized

Q : In what was considered a hostile takeover

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