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Author Question: An electronics store sold a home theater system to an employee for $300, even though the retail ... (Read 60 times)

rosent76

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Question 1

Amanda, who lost her modeling job, sued her employer for age discrimination. She was awarded $75,000 in lost wages, $25,000 for emotional distress, and $150,000 punitive damages. The amount taxable is
◦ $0.
◦ $150,000.
◦ $225,000.
◦ $250,000.

Question 2

An electronics store sold a home theater system to an employee for $300, even though the retail price was $500. The gross profit percentage is 40%. Such discounts are available to all employees. How much income should be recognized by the employee from these transactions?
◦ $0
◦ $100
◦ $120
◦ $200


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Marked as best answer by rosent76 on Sep 13, 2020

smrtceo

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rosent76

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Reply 2 on: Sep 13, 2020
Excellent


komodo7

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Reply 3 on: Yesterday
Wow, this really help

 

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