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Jacqueline owns a condominium on an island in Washington that was rented out all year for $30,000. She incurred the following expenses:
Mortgage interest $1,300
Property taxes 800
Insurance 1,500
Utilities 1,800
Repairs 300
Depreciation 4,000
What amount of net income or loss does Jacqueline report from this rental property? 3) _______
A) $9,700 net loss B) $30,000 net income
C) $20,300 net income D) $0
Answer: C

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tutorconsortium115

$20,300 is the amount of net income or loss does Jacqueline report from this rental property.

What amount of net income?

Jacqueline owns a condominium on an island in Washington that was rented out all year for $30,000.

Mortgage interest $1,300

Property taxes 800

Insurance 1,500

Utilities 1,800

Repairs 300

Depreciation 4,000

Net pay is the amount that employees actually receive after all payroll deductions, as opposed to gross pay, which is the amount that employees earn before taxes and other withholdings.

1300+800+1500+1800+300+4000=9700

30000 - 9700 = 20,300

$20,300 is the amount of net income or loss does Jacqueline report from this rental property.

To learn more about net income refer to:

https://brainly.com/question/28390284

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