Paul is the manager of a motel as a condition of his

Assignment Help Accounting Basics
Reference no: EM13604515

Paul is the manager of a motel. As a condition of his employment, Paul is required to live in a room on the premises so that he is there in case of emergencies. Paul considers this a fringe benefit, since he would otherwise be required to pay $600 per month rent. The room that Paul occupied normally rents for $60 per night, or $1,500 per month. On the average, 90% of the motel rooms were occupied. As a result of this rent-free use of a room, Paul is required to include how much in gross income?

Reference no: EM13604515

Questions Cloud

Brown cow dairy uses the aging approach to estimate bad : brown cow dairy uses the aging approach to estimate bad debt expense. the balance of each account receivable is aged on
533-cm-long uniformly charged rod is sealed in a container : 53.3-cm-long uniformly charged rod is sealed in a container. the total electric flux leaving the container is
Two infinite nonconducting uniformly charged flat surfaces : two infinite nonconducting uniformly charged flat surfaces are mutually perpendicular. one of the surfaces has a charge
Determine the components of force fr ftheta and fz which : the boy of mass 40 kg is sliding down the spiral slide at a constant speed such that his position measured from the top
Paul is the manager of a motel as a condition of his : paul is the manager of a motel. as a condition of his employment paul is required to live in a room on the premises so
Use the distribution function techniques to find the : let x be the amount of premium gasoline in 1000 gallons that a service station has in its tanks at the beginning of a
Determine the cash flow operating activities using each of : the following information pertains to porter company for 2011.beginning inventory 70 units 13units purchased 280 units
Early in january 2010 tellco inc acquired a new machine and : early in january 2010 tellco inc. acquired a new machine and incurred 100000 of interest installation and overhead
A metallic sphere has a charge of 45 nc a negatively : a metallic sphere has a charge of 4.5 nc. a negatively charged rod has a charge of -6.0 nc. when the rod touches the

Reviews

Write a Review

Accounting Basics Questions & Answers

  Assume that you borrow 10000 for five years annual

assume that you borrow 10000 for five years annual payments at a market rate of 6. assuming that inflation is 3 what

  How much of the refund if any must l a and paula include in

l. a. and paula file as married taxpayers. in august of this year they received a 5200 refund of state income taxes

  Landon corporation was organized on january 2 2010 with the

statement of retained earningslandon corporation was organized on january 2 2010 with the investment of 100000 by each

  Two circles touch each other externally one of the circles

two circles touch each other externally. one of the circles is 300 more in area than the other. if a is the centre of

  Charged to factory overhead

Separate the variable and fixed elements, using the high-low method. Determine the cost to be charged to the product for the year. Determine the cost to be charged to factory overhead for the year.

  Market value of an investment in debt securities

When the market value of an investment in debt securities exceeds its carrying amount, how should the asset be reported at the end of the year for each of the following?

  Process to increase company net income

Disney's variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase? and what is the process?

  Specific identification for specific identification the

warnerwoods company uses a perpetual inventory system. it entered into the following purchases and sales transactions

  Make a cost of goods manufactured schedule

Elias Corporation has the following cost records for February 2013- Prepare a cost of goods manufactured schedule for February 2013

  Mccawl company has developed value-added standards for four

mccawl company has developed value-added standards for four activities purchasing parts receiving parts moving parts

  Companies usually prepare an adjusting journal entry to

companies usually prepare an adjusting journal entry to accrue warranty expenses. when this is done the warranty

  Job order cost accounting system

BC Company uses a job order cost accounting system. During the month of April, the following events occurred:

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