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Albie Operates an Illegal Drug-Running Business and Has the Following

question 98

Essay

Albie operates an illegal drug-running business and has the following items of income and expense.What is Albie's adjusted gross income from this operation?  Income $800,000 Expenses:  Rent 24,000 Utilities 9,000 Bribes to police 55,000 Medical expense 5,000 Legal fees 25,000 Depreciation 30,000 Illegal kickbacks 30,000 Cost of goods sold 300,000\begin{array} { l r r } \text { Income } & & \$ 800,000 \\\text { Expenses: } & & \\& \text { Rent } & 24,000 \\& \text { Utilities } & 9,000 \\& \text { Bribes to police } & 55,000 \\& \text { Medical expense } & 5,000 \\& \text { Legal fees } & 25,000 \\& \text { Depreciation } & 30,000 \\& \text { Illegal kickbacks } & 30,000 \\& \text { Cost of goods sold } & 300,000\end{array}

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Definitions:

Reciprocal Determinism

A concept proposed by psychologist Albert Bandura, suggesting that a person's behavior both influences and is influenced by personal factors and the social environment.

Kindness

The quality of being friendly, generous, and considerate, often manifested in actions designed to help or benefit others.

Diligence

Persistent and hardworking effort in doing something.

Reciprocal Determinism

A theory proposed by Albert Bandura that suggests an individual's behavior, personal factors, and environmental factors are mutually influencing each other.

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