Through the cafeteria plan

Assignment Help Financial Accounting

Reference no: EM13792284

Andrew earns $100,000 per year in salary. he puts $6,000 per year in his 401k and his employer matches it. his company offers a cafeteria plan and Andrew pays his share of his medical insurance premiums of $5,000 per year through the cafeteria plan. he has no other income or deductible expenses. what is Andrew's AGI?

Reference no: EM13792284

Questions Cloud

Total conversion costs : Aberge Company's manufacturing overhead is 55% of its total conversion costs. If direct labor is $45,900 and if direct materials are $27,200, the manufacturing overhead is: During the month of September, direct labor cost totaled $21,240 and direct l..

Basis in accounts receivable-partnership interest : Sarah’s basis in her partnership interest was $120,000, including her $40,000 share of partnership liabilities. The partnership decides to liquidate, and after repaying all liabilities, distributes all remaining assets proportionately to the partners..

Cash receipts budget-cash disbursements budget : Johnson Corp is interested in purchasing some new material-handling equipment right after the beginning of the new year. They would like to finance the new equipment with cash and marketable securities, but if necessary they can get a short-term loan..

Planning for capital expenditures is necessary : Planning for capital expenditures is necessary for all of the following reasons except:

Through the cafeteria plan : Andrew earns $100,000 per year in salary. he puts $6,000 per year in his 401k and his employer matches it. his company offers a cafeteria plan and Andrew pays his share of his medical insurance premiums of $5,000 per year through the cafeteria plan. ..

Lenient bankruptcy laws in the world toward debtors : The United States has some of the most lenient bankruptcy laws in the world toward debtors (at least for business-owning debtors). Do you think this is a good system? Why or why not?

What is the average daily cash balance : Firm Y expects a total cash need of $14,500 over the next 4 months. They have a beginning cash balance of $2,500, and cash is replenished when it hits zero. The fixed cost of selling securities to replenish cash balances is $3.50. Based on the firms ..

Factory overhead includes : Factory overhead includes:

When is a trail balance usually prepared : When is a trail balance usually prepared?

User Account

All Pages