What the amount that Angela must include in gross income

Assignment Help Accounting Basics
Reference no: EM132908223

Question - A tornado damaged Angela's home. Prior to the storm, her living expenses were $1,200 a month. Angela had to move out of her home for three months while it was being fixed. During that time, her living expenses increased by $800 a month. The insurance company reimbursed Angela $1,000 a month during the three months to cover her living expenses. What the amount that Angela must include in gross income?

a. $0.

b. $2,400.

c. $600.

d. $3,000.

e. None of the above.

Reference no: EM132908223

Questions Cloud

What two strategies can use to facilitate adherence : What two strategies can use to facilitate adherence? What are three diet therapy considerations that must be made for people living with HIV/AIDS?
Breach of security or natural disaster : No matter how well an organizations data is protected, eventually there will be a breach of security or a natural disaster.
Highlight three content of an invitation letter : Housing policies introduced in China in 1998 aim to end the distribution of housing by employers and set up new housing finance and market systems.
Impact of lagging leadership creativity : This journal article focus on the how positive team culture can correct the impact of lagging leadership creativity.
What the amount that Angela must include in gross income : A tornado damaged Angela's home. Prior to the storm, her living expenses were $1,200 a month. What the amount that Angela must include in gross income
Discuss the changing landscape of the us healthcare system : Discuss the changing landscape of the US healthcare system through the ACA and specific initiatives that have been funded, enacted and currently implemented
Compute the net call payoff : Suppose you long one Australian dollar call and one Australian dollar put with an exercise exchange rate of 0.65 (USD/AUD).
How some of the characteristics may lead to elder abuse : How some of the characteristics may lead to elder abuse (memory issues, vulnerability, etc.). Discuss the types of consideration a nurse
Security policy implementation : Everyone must follow the policies if they are to be effective. A security policy implementation needs user acceptance to be successful.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd