Answered: Julie's gross salary is 950,000;…

Julie's gross salary is 950,000; mandatory contributions is 50,000. Compute for the following: a. gross compensation? b. exclusions from gross income c.taxable compensation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Julie's gross salary is 950,000; mandatory contributions is 50,000.

Compute for the following:

a. gross compensation?

b. exclusions from gross income

c.taxable compensation

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