Dividends on share account savings in credit union 150 what


Question - Betty Brewster received the following interest:

• Luggage gift for purchasing a four-year certificate of deposit (fair market value): $50

• Interest on passbook savings account: $15

• Interest on certificate of deposit: $200

• Dividends on share account savings in credit union: $150

• Interest on State of Mississippi bonds issued to finance state highway construction: $300

What is the amount of interest income to be included in income?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Dividends on share account savings in credit union 150 what
Reference No:- TGS02812181

Now Priced at $25 (50% Discount)

Recommended (99%)

Rated (4.3/5)