GoodMates Pty Ltd loaned one of its staff, Munir, the amount of $5,000 (interest free) for one month. Due to personal life issues and financial hardship that Munir was suffering, it turned out that demanding the loan will endanger his health and will cause him not to be able to provide basic needs for his family. At the discretion of the board of directors, this loan was waived on compassionate reasons and Munir was informed.   Is the company required to pay any fringe benefit tax? Kindly use the template below and discuss in detail.   Facts:   Rules and or cases:   Application:   Conclusion:

Isis quit her job at A Corp. While at A Corp., Isis was enrolled in their group health insurance plan. Now, Isis works for C Corp., which also has a group insurance plan. According to the Health Insurance Portability and Accountability Act, C Corp. must ______.   a. pay A Corp. so that Isis can maintain her health insurance through A Corp   b. wait to enroll Isis in C Corp.'s plan until she has been employed with the company for 1 year   c. reimburse Isis for any out-of-pocket expenses she incurred while unemployed   d. allow her to participate in the company group health insurance plan

ABC Corporation’s CEO owns a condominium in Bahamas where top executives and their spouses stay, from time to time, for personal leisure only. The CEO pays all upkeep and other incidental expenses of the condo. Do you think the benefit provided to the top executives would be taxable or not? It is important to note that the CEO does not use any of the corporate funds to maintain the condominium. The purpose of the benefit is to reward the employees.

Christopher Cross graduated from college five years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. After examining schools, he narrowed his choice to either Toronto University or Thompson Rivers University. Although internships are encouraged by both schools, to get class credit for internship, no salary can be paid. Other than internships, neither school will allow its students to work while enrolled in its MBA program. Christopher currently works at a fund management firm of Wilcox and Smith. His annual salary at the firm is $60,000 per year, and his salary is expected to increase at 2.5 percent per year until retirement. He is currently 27 years old and expects to work till he is 65 years old. His current job includes a fully paid health insurance plan, and his current average tax rate is 27 percent. Christopher has a savings account…

On Nov. 5, 2016, a Fudge Corp. truck was in an accident with an auto driven by Paul. Fudge received notice on January 15, 2017 of a lawsuit for P 700,000 damages for personal injuries suffered by Paul . The entity's counsel believed it is probable that Paul will be awarded an estimated amount in the range between P 200,000 and P 450,000 and no amount is a better estimate of potential liability than any other amount because each point in the range is as likely as any other. The 2016 financial statements were issued on March 1, 2017. What amount of loss should be accrued on Dec. 31, 2016?

Ali is considering the decision of whether or not to go and study a Master degree. He is currently working as an accountant in XYZ Company. He is thinking of getting a Master Degree, If he decided to study the Master Degree, he would expect to earn higher salary than his current one. On the other hand, the study of the Master Degree would force him to take unpaid leave from his current job. Furthermore, Ali recently purchased a new car. For Ali, the cost of the car is referred to as Select one: O a. Opportunity cost O b. Sunk cost O C. Differential revenue O d. Opportunity Revenue O e. Differential cost