Question
JDD Corporation provides the following benefits to its employee, Ahmed (age 49): Salary $ 324,000 Health insurance 19,000 Dental insurance 4,500 Life insurance 4,500 Dependent
| JDD Corporation provides the following benefits to its employee, Ahmed (age 49): |
| Salary | $ | 324,000 | |
| Health insurance | 19,000 | ||
| Dental insurance | 4,500 | ||
| Life insurance | 4,500 | ||
| Dependent care | 4,300 | ||
| Professional dues | 880 | ||
| Personal use of company jet | 206,000 | ||
| Assume the life insurance is a group-term life insurance policy that provides $296,000 of coverage for Ahmed. (Use EXHIBIT 12-10.) |
| a. | Assuming Ahmed is subject to a marginal tax rate of 30 percent, what is his after-tax benefit of receiving each of these benefits (ignoring FICA taxes)? (Round your answers to the nearest whole dollar.) |
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Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
17th Global Edition
1292312106, 978-1292312101
