Sally received $71,200 of compensation from her employer and she received $410 of interest from a corporate bond. What is the amount of Sally's gross income from these items? A) $410 .B) 71,200 .C) $71,610 . D) $0.
Sally received $71,200 of compensation from her employer and she received $410 of interest from a corporate bond. What is the amount of Sally's gross income from these items? A) $410 .B) 71,200 .C) $71,610 . D) $0.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sally received $71,200 of compensation from her employer and she received $410 of interest from a corporate bond. What is the amount of Sally's gross income from these items? A) $410 .B) 71,200 .C) $71,610 . D) $0.
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Step 1
Introduction:
Salary:
Salary is given to employees for their time contribution with the company.
Salary is paid periodically.
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