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Alex Robinson is an Australian resident for tax purpose. He works 2 day a week as a financial analyst at a large global financial service firm while he is completing this Master in Finance program full time. During the last financial year he • received $30,000 of salary as a financial analyst • received $25,000 of rent from an investment property that he rented out in since 2017 spend $1,000 at restaurant entertaining his colleagues sold shares that he paid $20,000 two months ago for a proceed of $25,000 spend $2000 to repair the investment property that he owns spend $20000 on interest expense on this investment property spent $1000 on medical expenses His Taxable Income is Select one: O a. $35,500 O b. $40,000 O c. $38,000 O d. $32,500 e. None of these values.

Alex Robinson is an Australian resident for tax purpose. He works 2 day a week as a financial analyst at a large global financial service firm while he is completing this Master in Finance program full time. During the last financial year he • received $30,000 of salary as a financial analyst • received $25,000 of rent from an investment property that he rented out in since 2017 spend $1,000 at restaurant entertaining his colleagues sold shares that he paid $20,000 two months ago for a proceed of $25,000 spend $2000 to repair the investment property that he owns spend $20000 on interest expense on this investment property spent $1000 on medical expenses His Taxable Income is Select one: O a. $35,500 O b. $40,000 O c. $38,000 O d. $32,500 e. None of these values.

FINANCIAL ACCOUNTING
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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Alex Robinson is an Australian resident for tax purpose. He works 2 day a week as a financial analyst at a large global financial service firm while he is completing this Master in Finance program full time. During the last financial year he • received $30,000 of salary as a financial analyst • received $25,000 of rent from an investment property that he rented out in since 2017 spend $1,000 at restaurant entertaining his colleagues sold shares that he paid $20,000 two months ago for a proceed of $25,000 spend $2000 to repair the investment property that he owns spend $20000 on interest expense on this investment property spent $1000 on medical expenses His Taxable Income is Select one: O a. $35,500 O b. $40,000 О с. $38,000 O d. $32,500 e. None of these values.
Transcribed Image Text:Alex Robinson is an Australian resident for tax purpose. He works 2 day a week as a financial analyst at a large global financial service firm while he is completing this Master in Finance program full time. During the last financial year he • received $30,000 of salary as a financial analyst • received $25,000 of rent from an investment property that he rented out in since 2017 spend $1,000 at restaurant entertaining his colleagues sold shares that he paid $20,000 two months ago for a proceed of $25,000 spend $2000 to repair the investment property that he owns spend $20000 on interest expense on this investment property spent $1000 on medical expenses His Taxable Income is Select one: O a. $35,500 O b. $40,000 О с. $38,000 O d. $32,500 e. None of these values.
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