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Vaselesa [24]
3 years ago
15

Hank is a U.S. citizen and is doing a three to six-year assignment as a sales executive in Paris for a French company, which beg

an this year. Hank earned $109,500 working for the French company this year but only lived in France for 180 days (out of 365 days). He will live full-time in France next year. What amount of Hank's $109,500 salary this year will he be allowed to exclude from gross income in the U.S. (rounded to the nearest one-hundred dollars)?
A. Hank can exclude his entire salary because he worked more than 330 days overseas
B. 102,000
C. 92,400
D. 99,200
E. None of his salary can be excluded from gross income because Hank must reside overseas for the entire year
Business
1 answer:
Maurinko [17]3 years ago
3 0

Answer:

The answer is: E) None of his salary can be excluded from gross income because Hank must reside overseas for the entire year

Explanation:

According to the IRS's Foreign Earned Income Exclusion (and Requirements) a US citizen can claim up to $105,900 (in 2019) of his gross income to be excluded from gross income in the US only if that person resided in the foreign country for at least 330 days in the last year.

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Jumbo Shrimp Oxymorons, Inc. recently paid a dividend of $2.12 per share. The firm expects explosive growth of 20% over the next
dusya [7]

Answer:

Dividend

First year = $2.544

Second year = $3.053

Third year = $3.48

Fourth year = $3.97

Fifth year = $4.53

Sixth year =$5.16

Explanation:

As dividend is the share of earning distributed to the stockholders. The stockholders expects a good return from the company against their interst in the company. Company make a dividend policy and calculates the growth of dividend accordingly.  

Dividend Paid = $2.12

Company expected 20% growth in next two years so,

Dividend First year = $2.12 x 120% = $2.544

Dividend Second year = $2.544 x 120% = $3.053

Dividend of following three years will grow at 14%

Dividend Third year = $3.053 x 114% = $3.48

Dividend Fourth year = $3.48 x 114% = $3.97

Dividend Fifth year = $3.97 x 114% = $4.53

After this it will grow 8% indefinitely

Dividend Sixth year = $4.53 x 114% = $5.16

4 0
3 years ago
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Shkiper50 [21]

Answer: Leased employee

Explanation:

Leased employee are employed by a service firm and assigned to work at a business or an organization.

They are contractual employee and paid on the basis of what is deemed in contract.

6 0
3 years ago
Wilson Co. has three segments -- Tennis, Golf, and Fishing. The Tennis segment is currently producing 2,000 units annually. The
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Answer:

$400,000

Explanation:

Calculation to determine the differential revenue if Wilson Co. were to eliminate the Tennis segment

Differential revenue= $200x2,000 units

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Therefore the differential revenue if Wilson Co. were to eliminate the Tennis segment will be $400,000

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The journal entry to record direct labor used in process costing is a(n):___________
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b. increase in assets and an increase in liabilities.

Explanation:

The journal entry to record the direct labor cost used is shown below:

Work in process Dr

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Here the work in process is debited as it increased the assets and credited the wages payable as it also increased the liabilities

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Billy accepted a job at a company that specializes in providing money for short-term retail lending. where did he go to work?
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