Business, 23.10.2019 02:50 nanakwameyeb

As an executive of cherry, inc., ollie receives a fringe benefit in the form of annual tuition scholarships of $10,000 to each of his three children. the scholarships are paid by the company on behalf of the children of key employees directly to each child's educational institution and are payable only if the student maintains a b average. a. the tuition payments of $30,000 may be excluded from ollie's gross income as a scholarship.
b. the tuition payments of $10,000 each must be included in the child's gross income.
c. the tuition payments of $30,000 may be excluded from ollie's gross income because the payments are for the academic achievements of the children.
d. the tuition payments of $30,000 must be included in ollie's gross income.
e. none of these.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 16:00

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?

Answers: 1

Answer

Business, 23.06.2019 01:30

Young owners of a sole proprietorship will likely not find financial support available from?

Answers: 2

Answer

Business, 23.06.2019 13:30

Which tasks do travel agents and hotel concierges have in common? they both recommend where to eat and handle personal services for tourists. they both process payments and book travel packages for tourists. they both make reservations and provide information for tourists. they both recommend unusual spots to visit and book tour guides for tourists

Answers: 2

Answer

Business, 23.06.2019 14:20

Inflation is when money is paid for the same amount of goods and services than in a previous time period. the same amount less more none of the above

Answers: 1

Answer

You know the right answer?

As an executive of cherry, inc., ollie receives a fringe benefit in the form of annual tuition schol...

Questions