Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jacob has the following items of income in 2021:

Jacob has the following items of income in 2021: He has a salary of...

50.1K

Verified Solution

Question

Accounting

Jacob has the following items of income in 2021:

  • He has a salary of $100,000
  • He sells land for $12,000. The original purchase price is $4,000
  • He receives interest from a City of London Bond of $7,000

What is Jacobs Gross Income?

Group of answer choices

$100,000.

$107,000.

$112,000.

$115,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A potential difference of 3.60 V will be applied to a 33.00 m length of 18-gauge...

Physics
Q

Prepare a logical design for a process used by your organization (any healthcare). You may select...

General Management
Q

In its Department R, Recyclers, Inc., processes donated scrap cloth into towels for sale in local...

Accounting
Q

1 For each of the following statements i plug in at least four values of...

Basic Math
Q

Carbon dioxide CO is sealed inside a piston cylinder assembly initially at 100 kPa and...

Basic Math
Q

1 point Veterinarians often use nonsteroidal anti inflammatory drugs NSAIDs to treat lameness in horses...

Statistics
Q

c Find the number of combinations of 2 elements take b B 22 2 21...

Calculus
Q

Revenue from installment sales is recognized in the period received for tax purposes and recognized...

Accounting
Q

Enviro Company issues 10%, 10-year bonds with a par value of $210,000 and semiannual interest...

Accounting
Q

In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of...

Accounting
Q

On January 1,2023, Jaeger Inc. entered into a futures contract that trades on...

Accounting
Q

ent Exercise-CONT3011 6 After the success of the company's first two months, Santana Rey continues...

Accounting