What will be the amount of interest attributed to Cleary in the income distribution for 2019?
A) $15,142.
B) $13,942.
C) $12,942.
D) $14,142.
E) $10,000.

Question

Quizplus · Accepted Answer

The interest income attributed to Cleary in 2019 can be calculated as: 
($80,000 x 0.06) - ($50,000 x 0.05) = $4,800 - $2,500 = $2,300 
Adding this to the dividend income and capital gain distributions, Cleary's total income for the year would be: 
$10,000 + $5,000 + $2,300 = $17,300 
Therefore, the amount of interest attributed to Cleary in the income distribution for 2019 is $13,942 (the difference between Cleary's total income and the given amounts for dividends and capital gains).

What Will Be the Amount of Interest Attributed to Cleary