Thelma Works at a Liquor Store in 2016 and Makes

question 41

Multiple Choice

Thelma works at a liquor store in 2016 and makes $44,000. She also has dividend income of $12,000 and interest income of $1,000. She owns a beach house that gives her $11,000 in net rental income and she owns a stake in a limited partnership that generates a $15,000 loss. What is her adjusted gross income in 2016?

• A)$58,000
• B)$45,000
• C)$69,000
• D)$57,000
• E)$53,000

---

Definitions:

Accounts Receivable-Digitec

The money owed to Digitec by its customers for goods or services that have been delivered or used but not yet paid for.

Invoice No.

A unique identifier for an invoice document that facilitates tracking of sales and payments.

Fiscal Period

A specific duration of time used for accounting purposes, such as a month, quarter, or year, over which financial records are kept.

Accounts Payable

Liabilities owed by a business to its suppliers or vendors for goods and services purchased on credit.