Question
In: Accounting
JDD Corporation provides the following benefits to its employee, Ahmed (age 37): Salary $ 366,000 Health...
JDD Corporation provides the following benefits to its employee, Ahmed (age 37):
| Salary | $ | 366,000 | |
| Health insurance | 15,100 | ||
| Dental insurance | 3,300 | ||
| Life insurance | 3,000 | ||
| Dependent care | 5,000 | ||
| Professional dues | 1,420 | ||
| Personal use of company jet | 205,000 | ||
Assume the life insurance is a group-term life insurance policy
that provides $243,000 of coverage for Ahmed. (Use EXHIBIT
12-10.)
a. Assuming Ahmed is subject to a marginal tax
rate of 30 percent, what is his after-tax benefit of receiving each
of these benefits (ignoring FICA taxes)? (Enter all amounts
as positive values. Round your intermediate computations and final
answers to the nearest whole dollar.)
NOTE: LIFE INSURANCE TAXABLE PORTION IS NOT 270!!!
Solutions
ekkarill92 answered 2 years agoRelated Solutions
JDD Corporation provides the following benefits to its employee, Ahmed (age 48): Salary $ 326,000 Health...
JDD Corporation provides the following benefits
to its employee, Ahmed (age 48):
Salary
$
326,000
Health
insurance
15,000
Dental
insurance
2,700
Life
insurance
3,900
Dependent
care
4,700
Professional
dues
1,460
Personal use of
company jet
279,000
Assume the life insurance is a group-term life insurance policy
that provides $288,000 of coverage for Ahmed. (Use EXHIBIT
12-8.)
Assuming Ahmed is subject to a marginal tax rate of 32 percent,
what is his after-tax benefit of receiving each of these benefits
(ignoring...
JDD Corporation provides the following benefits to its employee, Ahmed (age 26): Salary $ 323,000 Health...
JDD Corporation provides the following benefits
to its employee, Ahmed (age 26):
Salary
$
323,000
Health insurance
12,500
Dental insurance
3,900
Life insurance
5,400
Dependent care
4,400
Professional dues
1,380
Personal use of company jet
278,000
Assume the life insurance is a group-term life insurance policy
that provides $226,000 of coverage for Ahmed. (Use EXHIBIT
12-10.)
a. Assuming Ahmed is subject to a marginal tax
rate of 30 percent, what is his after-tax benefit of receiving each
of these benefits...
JDD Corporation provides the following benefits to its employee, Ahmed (age 26): Salary $ 323,000 Health...
JDD Corporation provides the following benefits
to its employee, Ahmed (age 26):
Salary
$
323,000
Health insurance
12,500
Dental insurance
3,900
Life insurance
5,400
Dependent care
4,400
Professional dues
1,380
Personal use of company jet
278,000
Assume the life insurance is a group-term life insurance policy
that provides $226,000 of coverage for Ahmed. (Use EXHIBIT
12-10.)
a. Assuming Ahmed is subject to a marginal tax
rate of 30 percent, what is his after-tax benefit of receiving each
of these benefits...
JDD Corporation provides the , following benefits to its employee, Ahmed (age 47): Salary $320,000, Health...
JDD Corporation provides the , following benefits to its
employee, Ahmed (age 47): Salary $320,000, Health isurance
$100,000, Dental $2,000, Life Insurance 3,000, Dependent Care
$5,000, Professional dues $500, Personal use of company jet
$200,000. Assume the life insurance is a group term, life insurance
policy that provides $200,000 of coverage for Ahmed. What is the
total amount of taxable wages and benefits?
JDD Corporation provides the following benefits to its employee, Ahmed (age 47): Salary &
JDD Corporation provides the following benefits to its employee,
Ahmed (age 47):
Salary
$280,000
Health
insurance:
$10,000
Dental
insurance:
$2,000
Life
insurance:
$3,000
Dependent
care:
$5,000
Professional
dues:
$500
Personal use of company
jet:
$200,000
Assume the life insurance is a group-term life insurance policy
that provides $200,000 of coverage for Ahmed.
What is the total amount of taxable wages and
benefits?
JDD Corporation provides the following benefits to its employee, Ahmed (age 47): Salary  
JDD Corporation provides the following benefits to its employee,
Ahmed (age 47):
Salary $310,000
Health
insurance:
$10,000
Dental
insurance:
$2,000
Life
insurance:
$3,000
Dependent
care: $5,000
Professional
dues:
$500
Personal use of company
jet: $200,000
Assume the life insurance is a group-term life insurance policy
that provides $200,000 of coverage for Ahmed. What is the total
amount of taxable wages and benefits?
Marko Inc. provides the following information related to its post-retirement health care benefits for the year...
Marko Inc. provides the following information related to its
post-retirement health care benefits for the year 2018 (amounts in
thousands of Canadian dollars): Defined post-retirement benefit
obligation at January 1, 2018 - $100,000 Plan assets, January 1,
2018 - 40,000 Actual return on plan assets, 2018 - 3,000 Discount
rate- 10% Service cost,2018 - 57,000
Plan funding during 2018 - 22,000
Payments from plan to retirees during 2018 - 6,000 Actuarial
loss on defined post-retirement benefit obligation, 2018 (end of...
Sparrow Corporation would like you to review its employee fringe benefits program with regard to the...
Sparrow Corporation would like you to review its employee fringe
benefits program with regard to the tax consequences of the plan
for the company's president (Polly), who is also the majority
shareholder.
For the following items, indicate what amount, if any, is
included in Polly's gross income.
If an amount is zero, enter "0".
a.
The company has a qualified retirement plan. The company pays
the cost of employees attending a retirement planning seminar. The
employee must be within 10...
an employee extended health plan provides extended health services to the 750 employees of the company....
an employee
extended health plan provides extended health services to the 750
employees of the company. The premiums are 60% paid by the employer
and 40 % by the employee. Employee use an average of $475 worth of
service per employee. The insurance company requires a 25%
copayment and the insurance company imposes a 55% loading factor on
the insured portion. please determine the copayment, dollar amount
of the loading factor, insurance premium and the amount of premium
by the...
Ahmed Corporation makes a mechanical stuffed alligator. The following information is available for Ahmed Corporation's expected...
Ahmed Corporation makes a mechanical stuffed alligator. The following information is available for Ahmed Corporation's expected annual volume of 500,000 units: Per UnitTotalDirect materials$14Direct labour9Variable manufacturing overhead11Fixed manufacturing overhead$325,000Variable selling and administrative expenses5Fixed selling and administrative expenses175,000The company has a desired ROI of 40%. It has invested assets of $23,200,000. Calculate the total cost per unit. (Round answer to 2 decimal places, e.g. 15.25.) Total cost per unit $_______ Calculate the desired ROI per unit. (Round answer to 2 decimal places, e.g. 15.25.) Desired ROI...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Journal article summary on inter-group conflict Peer Reviewed Journal article from past 3 years. Please include...
- "Ethical Considerations" Please respond to the following: Reflect upon the responsibilities placed on auditors by the...
- A Japanese company has a bond outstanding that sells for 93 percent of its ¥100,000 par...
- What is the difference among the principles of modularization, abstraction, encapsulation, and separation of interface and...
- An investment project costs $20,100 and has annual cash flows of $4,400 for six years. ...
- PUT IN JAVA PROGRAMMING The StockB class: Design a class named StockB that contains the following...
- Draw a DFA for the following ( ∑ = {0,1}): Set of all strings with.
ADVERTISEMENT