During the current year, Adler had the following cash receipts:WagesUSD18,000Interest income from investments in municipal bonds400Unemployment compensation3,900What is the total amount that must be included in gross income on Adler's current year income tax return?
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2 .Chang Import/Export has numerous international subsidiaries throughout Asia that rely upon both the U.S. dollar and local currencies to sustain their operations. For the year ended December 31, Chang experienced a remeasurement loss of USD40,000 and a translation gain of USD25,000. As a result of these conversions, accumulated other comprehensive income would display:
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5 .CPA-01485Which payment(s) is (are) included in a recipient's gross income?I.Payment to a graduate assistant for a part-time teaching assignment at a university. Teaching is not a requirement toward obtaining the degree.II.A grant to a Ph. candidate for his participation in a university-sponsored research project for the benefit of the university.
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