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Sloan [31]
3 years ago
13

Bonnie's employer provides her with an annual dinner club membership costing $5,000. Her marginal tax rate is 24 percent. Her em

ployer has a marginal tax rate of 21 percent. What is Bonnie's after-tax benefit
Business
1 answer:
Nikolay [14]3 years ago
8 0

Answer:

$3,800

Explanation:

The computation of the after-tax benefit is shown below:

= Annual dinner club membership cost - annual dinner club membership cost × her marginal tax rate

= $5,000 - $5,000 × 24%

= $5,000 - $1,200

= $3,800

We simply deduct her tax expense from the annual dinner club membership cost so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

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Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela
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Solution :

We calculate the advances form the customer to be reported as the current liability as on Dec. 31, 2009 in the balance sheet as follows :

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Suppose that a planet fitness studio has fixed expenses of $7500 per month and variable expenses of $4.99 per member per month.
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