ACCT 553 help A Guide to career/Snaptutorial ACCT 553 help A Guide to career/Snaptutorial | Page 9
==================================================
ACCT 553 Week 2 Homework
For more classes visit
www.snaptutorial.com
Chapter 4
1.Your brother is short on cash and cannot pay his rent this month.
You pay his rent for him. Is this taxable income to your brother? Do
you get a deduction? (2 pts)
2.Which of the following items would beexcluded from income? (a)
$100 bill found under the sugar caddy at the restaurant (b) Inheritance
of a car from your grandmother valued at $5,000. (c) Loan from your
father-in-law to start your business, (d) Child Support received
totaling $16,500. (4 pts)