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sweet [91]
3 years ago
11

Friends Jackie (0.5 percent owner), Jermaine (1 percent owner), Marlon (2 percent owner), Michael (86 percent owner), and Tito (

10.5 percent owner) are shareholders in Jackson 5 Inc. (an S corporation). As employees of the company, they each receive health insurance ($11,000 per year benefit), dental insurance ($2,000 per year benefit), and free access to a workout facility located at company headquarters ($500 per year benefit). What amount of these fringe benefits are taxable to Jackie?
Business
1 answer:
Oxana [17]3 years ago
6 0

Answer:

$0

Explanation:

Since Jackie owns less than 2% of the stocks of Jackson 5, then all the fringe benefits that she can receive are tax free. The same applies to Jermaine and Marlon.

Only Michael and Tito would be taxed for the fringe benefits that they receive since they own more than 2% (health insurance $11,000 + dental insurance $2,000). Access to the workout facility is not taxable for any of them.

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nt, consider the appropriate change in quantity demanded or change in demand. Show this on the graph below by moving the cursor
julia-pushkina [17]

Answer:

in the explanation we can see the relationship between supply and demand.

Explanation:

The question is not clear, because some elements are missing. However, this is a situation where we want to describe the relationship between supply and demand for 3d TVs and how this varies if there is an increase in demand.

So let's analyze it in general terms.

Be D=Demand, E=equilibrium , P=Price, Q=Quantity.

Since Tabitha now earns more, she decides to buy a TV, then this increases demand (D2), which causes the equilibrium point (which in the graph corresponds to the intersection of the supply and demand curves) to change (E2). Thus, the higher the demand, the higher the price.

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3 years ago
Which of the following factors in productiservice planning affects product protection, product image, and indentification of the
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Answer:

A: D

Explanation:

6 0
3 years ago
Purchase-Related Transactions The debits and credits for four related entries for a purchase of $40,000, terms 2/10, n/30, are p
MrMuchimi

Answer:

Note: The organized question is attached

<u>Description of each transaction</u>

1. Merchandise purchased on account as a cost of $39,200, which is $40,000 less 2% discount of $800

2. Paid fright charge of $450

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3 years ago
Solve for the unknown interest rate in each of the following (Do not round intermediate calculations. Enter your answers as a pe
allochka39001 [22]

Answer:

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8.85%

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Explanation:

The formula for determining future value (FV) given present value is(PV) :

FV = PV (1 +r)^n

r = interest rate

n = number of years

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r = 8.85%

4.  613,284 = 41,261 (1 + r)^25

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3 years ago
A test plan consists of detailed procedures that specify ____.
Irina18 [472]
<span>I think this would complete the sentence.</span><span>
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8 0
3 years ago
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