answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleks04 [339]
2 years ago
11

Lakiesha is an employee who drives a 2017 Buick Verano as a company car. The fair-market value of the car is $28,545. She has be

en given the choice to have her fringe benefit reported on her W-2 either using the lease-value rule or the cents-per mile rule. According to Publication 15-b, the lease value is $7,750. She has driven 4,500 miles for personal use and 31,250 miles in total during the year. The car has been available for use on 200 days during the year. Lakiesha's employer pays for all fuel. What method and valuation will yield the lowest fringe-benefit amount for Lakiesha
Business
1 answer:
egoroff_w [7]2 years ago
7 0

Answer:

using the lease value rule, the employee's fringe benefits will be lower = $859.01.

Explanation:

The cents per mile rule for calculating fringe benefits = total number of miles driven for personal use x standard deduction = 4,500 x $0.58 = <u>$2,610</u>

using the lease value rule:

Annual lease value = publication 15-b value x amount of days available per year = $7,750 x (200/365) = $4,246.58

$4,246.58 x (4,500 miles / 31,250 miles) = $611.51

gas benefit = 4,500 x $0.055 = $247.50

total fringe benefits = $611.51 + $247.50 = <u>$859.01</u>

You might be interested in
Alasia often deals with customers by traveling to their homes to install energy sources. She can also fix any issues the custome
nekit [7.7K]
Alasia often deals with customers by traveling to their homes to install energy sources. She can also fix any issues the customer may have. Alasia is most likely an Electrician, If Alasia can fix almost any issue, it means it doesn´t need to be about the energy source, it may be about other technical electric problems, making Alasia an electrician. 
8 0
2 years ago
Read 2 more answers
A customer, age 69, has never invested in securities. She is retired with no dependents, living on a fixed pension of $35,000 pe
kirza4 [7]

Answer:

5000

Explanation:

Took the test

4 0
1 year ago
You have $12,500 you want to invest for the next 30 years. You are offered an investment plan that will pay you 7 percent per ye
Alchen [17]

Answer:

Future value= $151,018.51

Explanation:

Future value of money measures how much a present amount of money will be in the future at a given interest rate.

The interest gained on money shows the time value of money. One dollar today is less than one dollar in one year's time

The formula for future value is

Future value = Present value * (1 + rate)^time

As we have two periods in this case (10 years and 20 years)

Future value = Present value * {(1 + rate1)^time1} * {(1 + rate2)^time2}

Future value = 12,500 * {(1 + 0.07)^10} * {(1 + 0.095)^20}

Future value= $151,018.51

4 0
2 years ago
A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The associate continues to be employed by the same brok
-BARSIC- [3]

Answer: The sales associate must notify the DBPR in writing within 60 days regarding her change in residency

Explanation:

The options are:

a. The states associate broker is required to file the change of address on her behalf.

b. The sales associate broker is not required to notify DBPR because she did not change employers.

c. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency.

d. The sales associate must file an application for Georgia real estate license.

From the question, we are informed that a sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The associate continues to be employed by the same broker, who has an office in Atlanta.

Based on the scenario, the sales associate should let the DBPR be aware that he or she has moved from

Jacksonville, Florida, to Atlanta, Georgia by writing to them within 60 days regarding her change in residency.

6 0
2 years ago
Suppose that Sidney runs a micro financing agency that lends money to people to start small businesses in poor countries. Sidney
NemiM [27]

Answer:

1) $9615.38

2)$9245.56

3) b is the correct option.

Explanation:

See the attached pictures for detailed answer.

5 0
2 years ago
Other questions:
  • When antonia's carpet company doubled in size, average (per unit) costs of production increased. this is an example of?
    7·1 answer
  • Tom, Mary and Jill have apartments in the same building. A security system for their building costs $750. Tom is willing to pay
    6·1 answer
  • On August​ 31, 2018, Allright Services received​ $3,500 in advance of performing the service. Which journal entry is needed to r
    13·1 answer
  • There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One cu
    9·1 answer
  • Wood County Hospital consumes 1,000 boxes of bandages per week. The price of the bandages is $35 per box, and the hospital opera
    14·1 answer
  • Natalia notices that if she does not sleep a lot at night, she feels tired the next day. What relationship (if any) exists betwe
    14·1 answer
  • Beverly, the manager of a branch location of a large law firm, treated company resources as if they were her own and encouraged
    7·2 answers
  • On December 1, 2018, your company borrowed $15,000, a portion of which is to be repaid each year on November 30. Specifically, y
    6·1 answer
  • Jewel Service anticipates the following sales revenue over a five-month period: The company's sales are 40% cash and 60% credit.
    14·1 answer
  • Using your accounting knowledge, fill in the blanks in the following separate income statements a through e. Identify any negati
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!