During 2020, Sandeep had the following transactions: Salary $120,000 Interest income on City of San Francisco bonds 2,000 Damages for personal injury (car accident) 40,000 Income from selling illegal narcotics 50,000 Punitive damages (same car accident)15,000 Cash dividends from Amazon Corporation stock 7,000 Sandeep's AGI is: $177,000 $192,000 $194,000 $234,000

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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1

During 2020, Sandeep had the following
transactions:
Salary $120,000
Interest income on City of San Francisco
bonds 2,000
Damages for personal injury (car accident)
40,000
Income from selling illegal narcotics 50,000
Punitive damages (same car accident)15,000
Cash dividends from Amazon Corporation
stock 7,000
Sandeep's AGI is:
$177,000
$192,000
$194,000
$234,000
Transcribed Image Text:During 2020, Sandeep had the following transactions: Salary $120,000 Interest income on City of San Francisco bonds 2,000 Damages for personal injury (car accident) 40,000 Income from selling illegal narcotics 50,000 Punitive damages (same car accident)15,000 Cash dividends from Amazon Corporation stock 7,000 Sandeep's AGI is: $177,000 $192,000 $194,000 $234,000
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