Joline operates Adventure Tours as a sole proprietorship.For the year,Adventure Tours has the following income and expense items:
If Joline has other income of $6,000,what is her adjusted gross income?
A)$141,000
B)$142,000
C)$143,000
D)$146,000

Question

Joline operates Adventure Tours as a sole proprietorship.For the year,Adventure Tours has the following income and expense items:  ​
If Joline has other income of $6,000,what is her adjusted gross income?
A)$141,000 
B)$142,000 
C)$143,000 
D)$146,000

Quizplus · Accepted Answer

To find Joline's adjusted gross income, we need to add up her total income from Adventure Tours ($150,000) and her other income ($6,000), and then subtract her business expenses ($7,000). This gives us:
$150,000 + $6,000 - $7,000 = $149,000
So Joline's adjusted gross income is $149,000. The closest answer choice is C, $143,000, which is $6,000 less than the actual figure. Therefore, the correct answer is C.

Joline Operates Adventure Tours as a Sole Proprietorship