User Account

All Pages

How much compensation income does priscilla recognize

Assignment Help Accounting Basics
Reference no: EM13517114

Priscilla, an employee of Choice Corporation, receives an annual salary of $70,000.

Choice has a cafeteria plan that allows all employees to choose an amount equal to 8 percent of their annual salary from a menu of nontaxable fringe benefits or to take cash. Priscilla selects $50,000 of group term life insurance that costs the company $900 and also selects health insurance that costs the company $2,000; she takes the remaining $2,700 in cash. How much compensation income does Priscilla recognize from Choice Corporation?

Reference no: EM13517114

Questions Cloud

How much gross income does clark have from the dewdrop inn : Clark chooses to live at the inn in a room that normally rents for $400 per month. How much gross income does Clark have from the DewDrop Inn?
Jennifers gross income : How much of the $3,500 set aside in the FSA is included in Jennifer's gross income - how much of the $3,000 reimbursed from the FSA is included in Jennifer's gross income?
Find how far is the source of sound from each microphone : Two microphones are located on the Y axis. One(1) is at the origin and the other(2) is at y= 1.5 meters. how far is the source of sound from each microphone
Find frequency is monitored by the leading ship : Two ships are moving along a line due east. The trailing vessel has a speed of 62.0 km/h relative to a land-based observation point, What frequency is monitored by the leading ship
How much compensation income does priscilla recognize : How much compensation income does Priscilla recognize from Choice Corporation - an employee of Choice Corporation, receives an annual salary of $70,000.
How much of her moving expenses can she deduct : how much of her moving expenses can she deduct - Susan's employer reimburses her $3,600 for all of these moving expenses except for the lease cancellation fee, will she have any taxable income?
What will be the charge of the right sphere : If you bring a negatively charged insulator near two uncharged metallic spheres that are in contact and then separate the spheres, what will be the charge of the right sphere
Test for deductibility of moving expenses : Which commuting distances are important in meeting the mileage test for deductibility of moving expenses - By how many miles does Jill's commute exceed the minimum necessary to pass the test?
What is the altitude of the plane : A plane flies at 1.25 times the speed of sound. The sonic boom reaches a man on the ground exactly 1 min after the plane passed directly overhead. What is the altitude of the plane

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analyzing intercompany sales transactions

How are franchise fees, royalty fees, and KKM&D sales with these joint ventures reflected in the Company's consolidated financial statements? What issues might arise in analyzing intercompany sales transactions?

  What percentage do 2013 sales represent of the base

Which of the following would be considered an "Other Comprehensive Income" item?

  What selling price per unit will this company require to

sam company has just received a special one-time order for 1000 units. producing the order will have no effect on the

  Which of the following is not a part of comprehensive

foreign currency items restructuring charges unrealized gains and losses pension liability adjustments

  Determine the amount of interest to be capitalized

Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.

  Prepare slaton entry to record the exchange

Prepare Slaton's entry to record the exchange. (The exchange has commercial substance.)

  Approximation of a normal distribution

A new extended-life light bulb has an average service life of 743 hours, with a standard deviation of 49 hours. If the service life of these light bulbs approximates a normal distribution, about what percent of the distribution will be between 645..

  Regarding the lease term

Which of the following is true regarding the lease term? A) The lease term does not include all periods covered by bargain renewal options. B) The lease term includes all periods for which failure to renew imposes a penalty sufficiently high that t..

  Prepare in good form a balance sheet for the year ended

question 1.flynn design agency was founded by kevin flynn in january 2009. presented below is the adjusted trial

  What is the amount of tim''s rent deduction for 2012

Tim, a calendar-year cash basis taxpayer, rents property from Andy. On July 1, 2012, Tim pays $24,000 rent for the 24 months ending June 30, 2014. What is the amount of Tim's rent deduction for 2012?

  Research and development costs

Research and development costs for projects other than software development should be:

  Explain how these costs are associated with the manufactured

You were introduced to three types of costs associated with a manufactured product - direct materials, direct labor, and manufacturing overhead

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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