1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DochEvi [55]
3 years ago
10

Kristen’s employer owns its building and provides parking space for its employees. The value of the free parking is $150 per mon

th. Karen’s employer does not have parking facilities but reimburses its employees for the cost of parking in a nearby garage up to $150 per month.
a. Kristen and Karen must recognize gross income from the parking services.
b. Kristen can exclude the employer-provided parking from gross income, but Karen must include her reimbursement in gross income.
c. Kristen must include the value of the employer-provided parking from her gross income, but Karen can exclude her reimbursement from gross income.
d. Neither Kristen nor Karen is required to include the cost of parking in gross income.
e. None of these.
Business
1 answer:
balu736 [363]3 years ago
5 0

Answer:

Neither Kristen nor Karen is required to include the cost of parking in gross income.

Explanation:

As a qualified transportation fringe, both Kristen and Karen's benefit can be excluded from gross income. Karen's reimbursement is less than the maximum exclusion amount allowed. Likewise, the value of Karen's free parking is less than the maximum exclusion amount allowed.

You might be interested in
Esther and Elizabeth are equal partners in the EE Partnership. The partners formed the partnership seven years ago by contributi
Ber [7]

Answer: Esther does not recognize any gain or loss on the distribution and her remaining basis in EE is $15,000

Explanation:

Base on the scenario been described in the question, repayment of liabilities is treated as a cash distribution. Esther's share of the debt reduction is Since this amount is lower than her outside basis ($40,000) she does not recognize a gain or loss.reduces her outside basis by the $25,000, which leaves her $15,000 of outside basis in EE afterthe debt repayment.

8 0
3 years ago
Identify each of the following features as applying more to job order operations, process operations or both job order and proce
Fynjy0 [20]

Answer:

Identification of Features Applying More to Job Order Operations, Process Operations, or Both:

Features  

1. Cost object is a process.                                  Process Operations

2. Measures unit costs only at period-end.        Process Operations

3. Uses indirect costs.                                          Both

4. Transfers costs between Work in              

   Process Inventory accounts.                            Process Operations

5. Uses only one Work in Process account.       Job Operations

6. Uses materials, labor, and overhead costs.    Both

Explanation:

The main difference between the two operations is the manner costs are accumulated.  Job operations accumulate costs for different jobs that are not similar.  Process operations accumulate costs to show the process a product passes through.  The product of a process operation is not unique like the product of a job operation.

6 0
3 years ago
What are the different types of banking institutions
Otrada [13]

Central Banks, Retail Banks, Commercial Banks, Shadow Banks, Investment Banks, Cooperative Banks, Credit Unions.

5 0
3 years ago
Marisol's online jewelry store originally sold only earrings and necklaces for women. After adding men's rings and cuff links, p
den301095 [7]

Answer: C. Profitability of unisex watches.

Explanation: Merchandising strategy is a business tactics or process that contribute or bring in sales of goods and services for profit.

Marisol made double profit when she added men cufflinks and men rings to her online jewelry store business. Now she wants to consider adding unisex watches to it, using merchandising strategy she should consider the profitability of " unisex watches ".

5 0
3 years ago
What are the most important benefits of using virtual reality in business training?.
N76 [4]

The most important benefits of using virtual reality in business training is that its let the trainees undergo at similar experience that they will encounter in real world.

<h3>What is a Virtual Reality?</h3>

A Virtual Reality refers to a simulated experience that are very similar from the real world.

In conclusion, the most important benefits of using virtual reality in business training is that its let the trainees undergo at similar experience that they will encounter in real world

Read more about Virtual Reality

<em>brainly.com/question/26597344</em>

6 0
2 years ago
Other questions:
  • When a firm takes existing products and attempts to sell them to new markets, this growth strategy is considered: A. Market deve
    8·1 answer
  • A mid-sized firm plans to issue 10 million shares during an IPO. The underwriter plans to sell shares at $22.55; however, many i
    7·1 answer
  • Which of the following is correct: A. The post-closing trial balance will ensure the accounting equation is balanced at the end
    11·1 answer
  • Holly Farms has sales of $509,600, costs of $448,150, depreciation expense of $36,100, and interest paid of $12,400. The tax rat
    6·1 answer
  • Gersick's model for team development rejects the standard model in favor of something called: The golden rule. Directed chaos. F
    6·1 answer
  • How to watch my mobile number​
    13·1 answer
  • True or False: Computing interest using the sum-of-the-digits method allocates more interest at the beginning of a loan than at
    6·1 answer
  • Three years ago shawheen deposited 5,000 in a savings account
    6·1 answer
  • A Truss Above, a home builder in the United States, secures products such as roofing shingles, cabinets, and plumbing materials
    8·1 answer
  • The rhaegel corporation's common stock has a beta of 1. if the risk-free rate is 4.5 percent and the expected return on the mark
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!