Lindsay Corporation made the following payments to the family of Luke Marshall, an employee who died during the year. $5,000 for Luke's final paycheck that he failed to collect $10,000 for accrued vacation days as required by the employment contract $25,000 in admiration of Luke's outstanding service to the community. What is the total amount that Luke's family must include in income?
A. $15,000
B. $5,000
C. $40,000
D. $0
Answer: A
You might also like to view...
A company has 100,000 shares of common shares outstanding, total assets of $2,500,000, and total stockholders' equity of $1,400,000 . The book value per share of common stock is
a. $0.04; b. $0.07; c. $14.00; d. $25.00; e. none of these
Which of the following forms of business offers limited personal liability to owners as well as the choice to be taxed as either a corporation or as a partnership?
A. Limited liability partnership B. Limited liability company C. Corporation D. Proprietorship E. Partnership
The board of directors of each corporation involved must approve a merger
Indicate whether the statement is true or false
____________________ bonds are those that the issuer has the right to repurchase before the maturity date
Fill in the blank(s) with correct word