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AC 309 Unit 2 Chapter Problems $ 15.00
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Product Description Unit 2 Chapter Problems
Perform Chapter 4 Problems 29, 35, 40, 53( pages 4-38,39,40 & 43 in the text) and Chapter 5 Problems 5, 8, 9, 11, 17( pages 5-31 & 32 in the text)
29. LO. 1 Determine the taxpayer’ s gross income for tax purposes in each of the following situations:
a. Deb, a cash basis taxpayer, traded a corporate bond with accrued interest of $ 300 for corporate stock with a fair market value of $ 12,000 at the time of the exchange. Deb’ s cost of the bond was $ 10,000. The value of the stock had decreased to $ 11,000 by the end of the year.