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Required information Problem 12.47 (LO 12-3) (Algo) [The following information applies to the questions displayed below] Lamont works fot a company in downtown Chicago. The
Required information Problem 12.47 (LO 12-3) (Algo) [The following information applies to the questions displayed below] Lamont works fot a company in downtown Chicago. The company encourages employees to use public transportation (to save the ervironment) by providing them with transit passes at a cost of $311 per month. Problem 12-47 Part b (Algo) b. If the company provides each employee with $311 per month in parking benefits, how much of the parkang benefit must LaMont include in his gross income each year? Required information Problem 12-23 (LO 12-1) (Algo) [The following information applies to the questions displayed below] North Incorporated is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the following bonuses for certain employees for financial acco g purposes. - \$7,950 for Lisa Tanaka, a 25 percent shareholder. - $13,400 for Jared Zabaski, a 40 percent shareholder - \$17,900 for Helen Talanian, a 25 percent shareholder. - $6,850 for Steve Nielson, a 5 percent shareholder. Unless stated otherwise, assume these shareholders are unrelated. How much of the accrued bonuses can North Incorporated dectuct in year 1 under the following alternative scenarios? Note: Leave no answer blank. Enter zero if applicable. Input all amounts as positive values. Problem 12-23 Part a (Algo) a. North paid the bonuses to the employees on March 1 of year 2 . Required information Problem 12-47 (LO 12-3) (Algo) [The following information applies to the questions displayed below] LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $311 nor month. Problem 12-47 Part a (Algo) . If LaMont receives one pass (worth \$311) each month, how much of this benefit must he include in his gross income each year
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