Kohsei Had the Following Transactions for 2019 What Is Kohsei's AGI for 2019

question 85

Essay

Kohsei had the following transactions for 2019: $\begin{array}{llr} \text { Salary } &&\$80,000\\ \text { Alimony paid } &&(4,000)\\ \text { Recovery from car accident- } &\\ \text { Personal injury damages} &\$40,000\\ \text { Punitive damages} &70,000&110,000\\ \text { Gift from parents } &&20,000\\ \text {Property sales- } &\\ \text { Loss on sale of boat (used for pleasure and owned 4 years) } &(\$4,000)\\ \text { Gain on sale of ADM stock (held for 10 months as an investment) } &4,000&(-0-)\\\end{array}$
What is Kohsei's AGI for 2019?

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Definitions:

Advertising Costs

Expenses associated with promoting a product, service, or brand to potential customers.

Period Costs

Expenses not directly tied to the production of goods or services, such as selling, general, and administrative expenses, expensed in the period they occur.

Job Cost Sheets

A document or record that captures all costs associated with a specific job or project, allowing for more precise tracking and billing.

Unit Cost Trends

Analysis of how the cost required to produce a single unit of a product changes over time, which can indicate efficiency improvements or the need for adjustments in pricing strategies.