Liz and doug were divorced on december 31 of the current, Ask an Expert

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Liz and Doug were divorced on December 31 of the current year after 10 years of marrage. their current years income received before the divorce as follows:

Dougs salary $41,000
Liz's salary $55000

Rent on apartments purchased by liz 15 yrs ago $ 8,000.Dividends on stock doug inherited from his mother 4yrs ago $1900.Interest on a savings account in Liz's name funded wiht her salary $2400.Allocate the income to Liz and Doug assuming that they live in:

a. California

b. Texas

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965736

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