erry works in the corporate office at Sams warehouse and receives the following during the...
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Accounting
erry works in the corporate office at Sams warehouse and receives the following during the year: Salary: $45,000 Frequent flyer miles earned on business flights purchased with a personal credit card: 33,000 miles, with no cash value A long-service (non-cash) award for five years of service: $800 Christmas (cash) bonus: $1,050 Value of a wedding gift, as Jerry got married in the current year: $450 How much of the items are taxable? A. $46,800 B. $47,300 C. $46,350 D. $49,450
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