ABC Pte Ltd incurred staff costs of $800,000 which comprise staff salaries of $500,200, transport allowances of $100,000, medical expenses of $22,300 and directors’ fees of $177,500. The company has implemented the portable or transferable medical schemes. What is the amount of deductible medical expenses for ABC Pte Ltd? Question 11 options: 1) $6,002 2) $16,000 3) $15,554 4) $12,004
ABC Pte Ltd incurred staff costs of $800,000 which comprise staff salaries of $500,200, transport allowances of $100,000, medical expenses of $22,300 and directors’ fees of $177,500. The company has implemented the portable or transferable medical schemes. What is the amount of deductible medical expenses for ABC Pte Ltd? Question 11 options: 1) $6,002 2) $16,000 3) $15,554 4) $12,004
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Pte Ltd incurred staff costs of $800,000 which comprise staff salaries of $500,200, transport allowances of $100,000, medical expenses of $22,300 and directors’ fees of $177,500. The company has implemented the portable or transferable medical schemes. What is the amount of deductible medical expenses for ABC Pte Ltd? Question 11 options: 1) $6,002 2) $16,000 3) $15,554 4) $12,004
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