How is calculated in the net employment income

Assignment Help Accounting Basics
Reference no: EM132472613

During 2018, Mr. Ken North receives several gifts from his employer:

Question 1: As a reward for winning the company's Employee Of The Month award, he received an expense paid weekend in a local hotel, which cost the company $2,200. IS THIS AN ADDITION TO THE SALARY?

Question 2:  As was the case for all of the company's employees, Mr. Ken North received a $900 gift certificate for merchandise at a local department store.

Question 3: At Christmas, the company gave each employee a basket of fancy chocolates, which cost the company $450. BUYING CHOCOLATES FOR EMPLOYEE'S IS NOT A TAXABLE BENEFIT, IS THIS CORRECT?

Question 4: How is calculated in the net employment income?

Reference no: EM132472613

Questions Cloud

What is the Journal Entry to transfer that gain from AOCI : t the end of a fiscal accounting year, Other Comprehensive Income (OCI), What is the Journal Entry to transfer that gain from AOCI to the income statement?
BIOL5372M Advanced Biomolecular Technologies : BIOL5372M Advanced Biomolecular Technologies Assignment Help and Solution, University of Leeds - Assessment Writing Service - Biological NMR data analysis
Determine what is the fair market value of one share : Using your result from above, Determine what is the fair market value of one share of BCD stock? The par value of BCD stock is $0.75
What general entries can be recorded for all transaction : Determine What general entries can be recorded for all transaction? Bought a truck costing $50,000, making a down payment of $7,000.
How is calculated in the net employment income : How is calculated in the net employment income? As a reward for winning the company's Employee Of The Month award, he received an expense paid weekend
Find the probability that Jack passes Calculus III : Suppose that Jack passes Calculus I. Find the probability that Jack passes Calculus III. Find the probability that Jack passes Calculus II and Calculus III
Compute for each year the accounts receivable turnover : Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $480,000. (Round answers to 1 decimal place)
Determine and prepare Lionels breakeven point : Determine and prepare Lionel's breakeven point (operating profit = 0) in sales dollars for the fiscal year ending June 30, 2019, if the company hires
Support effective project management : Appreciate and apply appropriate techniques, tools and knowledge to support effective project management, research and advanced scholarship

Reviews

Write a Review

Accounting Basics Questions & Answers

  Xyz company employs a fifo periodic inventory system and

xyz company employs a fifo periodic inventory system and had the following inventory information available for the

  Calculate the journal entry to record the issuance

The common stock has a market price of $20 per share, How do you calculate the journal entry to record the issuance

  Well­executed audit provides value to a company

A well­executed audit provides value to a company by offering assurance on financials and other information. In this task, you will apply your knowledge of legal and ethical standards to analyze and detect fraud risk in a company and its 401(k) pl..

  Explain perpetual system and periodic system

Describe perpetual system and periodic system. Estimate the inventory of goods on hand at the close of business on March 11.

  2alpaca corporation had revenues of 295000 in its first

2.alpaca corporation had revenues of 295000 in its first year of operations. the company has not collected on 19800 of

  Describe your rationale for the pricing approach

Describe your rationale for the pricing approach. Show some cost estimates and pricing suggestion for this product based on research.

  Hal attended school much of 2013 during which time he was

hal attended school much of 2013 during which time he was supported by his parents. hal married ruth in december 2013.

  The following data relate to the direct materials cost for

the following data relate to the direct materials cost for the production of 4000 automobiles tires actual 130240

  Which of the following is not the step in accounting

which of the following is not a step in the accounting process?

  What is the current value of operations

Calculate the project's NPV, IRR, MIRR, and payback - Management is unsure about the $110,000 cost savings-it could be plus or minus 20%. What would be the NPVs under each extreme?

  Dividends on common stock during year 2 totaled 60 thousand

hartzog corporations most recent balance sheet and income statement appear belowstatement of financial position

  Determine kunze corporation par value common stock

The journal entry to record? Kunze's purchase of 1000 shares of common stock at $ 4 per share would? be??Determine Kunze Corporation par value Common Stock

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd