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
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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
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12-8.)
Assuming Ahmed is subject to a marginal tax rate of 32 percent,
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JDD Corporation provides the following benefits
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$
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
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$100,000, Dental $2,000, Life Insurance 3,000, Dependent Care
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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:
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Professional
dues:
$500
Personal use of company
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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
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