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Jensen reported the following items during the current year: Fair rent value of a condominium owned by Jensen's employer $ 1,400 Cash found in a desk purchased for $30 at a flea market 400 Inheritance
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Jensen reported the following items during the current year: Fair rent value of a condominium owned by Jensen's employer $ 1,400 Cash found in a desk purchased for $30 at a flea market 400 Inheritance 11,000 The employer allowed Jensen to use the condominium for free in recognition of outstanding achievement. Based on this information, what is Jensen's gross income for the year

User Tanner Semerad
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1 Answer

2 votes

Answer:

$1,800

Step-by-step explanation:

Calculation to determine Jensen's gross income for the year

Using this formula

Gross income for the year=Fair rent value +Cash found

Let plug in the formula

Gross income for the year=$1,400+$400

Gross income for the year=$1,800

Therefore Jensen's gross income for the year is $1,800

User Chris Moore
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