Anna-Catherine and Anthony were divorced on March 15, 2020, after four years of marriage. Their current year's income received before the divorce was as follows:Anthony's salary$88,000Anna-Catherine's salary92,000Rent a business office purchased by Anna-Catherine six years ago120,000Interest on CD Anthony inherited from his uncle two years ago630Dividends on stock in Anna-Catherine's name funded with her salary4,100 Allocate the income to Anna-Catherine and Anthony assuming that they live in:a. California.Anthony: $ Anna-Catherine: $b. Louisiana.Anthony: $ Anna-Catherine: $

Answered: a. California. Anthony: $…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Anna-Catherine and Anthony were divorced on March 15, 2020, after four years of marriage. Their current year's income received before the divorce was as follows:

Anthony's salary	$88,000
Anna-Catherine's salary	92,000
Rent a business office purchased by Anna-Catherine six years ago	120,000
Interest on CD Anthony inherited from his uncle two years ago	630
Dividends on stock in Anna-Catherine's name funded with her salary	4,100

Allocate the income to Anna-Catherine and Anthony assuming that they live in:

a. California.
Anthony: $ Anna-Catherine: $

b. Louisiana.
Anthony: $ Anna-Catherine: $

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