LO 9.1 4. Big Bull restaurant employs twenty-three employees who receive tips. During the current year, Big

Question:

LO 9.1 4. Big Bull restaurant employs twenty-three employees who receive tips. During the current year, Big Bull has $410,000 in gross revenues, and its employees do not report any tip income.

a. Complete as much as possible of Form 8027 on page 9-41 to determine the amount of tip income that must be allocated to the employees by Big Bull restaurant.

b. In what ways may the restaurant allocate the tip income to the employees?

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