Business, 03.12.2021 02:00 ashley2816

8. During 2018, Jo spent $100,000 on wine, women, song, and other personal expenditures. Jo's only source of income was a business.
At the beginning of the year, Jo's assets (personal and business)
totaled $300,000 and he owed $120,000. At the end of the year, his
assets totaled $320,000, and he owed $60,000. Jo reported
$120,000 income. Estimate Jo's unreported income.

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8. During 2018, Jo spent $100,000 on wine, women, song, and other personal expenditures. Jo's only...

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