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he firm is paying pretax $100,000 per year for services included in Contract A. There are 5 employees at the firm (Larry, Bill, Sara ob) subscribed to the service who should pay equal shares of the cost. Using the information above and the provided tax chart, hart 1-A with the expected pre-tax and tax allocation for each employee. Location NY CT HK Not taxable Tax Rate 8.88% 1% Chart 1-A Employee Location Larry NY Bill HK Sara NY Karen CT Bob HK Pretax Allocation - Contract A Tax Allocation- Contract A

he firm is paying pretax $100,000 per year for services included in Contract A. There are 5 employees at the firm (Larry, Bill, Sara ob) subscribed to the service who should pay equal shares of the cost. Using the information above and the provided tax chart, hart 1-A with the expected pre-tax and tax allocation for each employee. Location NY CT HK Not taxable Tax Rate 8.88% 1% Chart 1-A Employee Location Larry NY Bill HK Sara NY Karen CT Bob HK Pretax Allocation - Contract A Tax Allocation- Contract A

FINANCIAL ACCOUNTING
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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The firm is paying pretax $100,000 per year for services included in Contract A. There are 5 employees at the firm (Larry, Bill, Sara, Karen and Bob) subscribed to the service who should pay equal shares of the cost. Using the information above and the provided tax chart, please fill in Chart 1-A with the expected pre-tax and tax allocation for each employee. Location NY CT HK Tax Rate 8.88% 1% Not taxable Chart 1-A Employee Location Pretax Allocation - Contract A Larry NY Bill HK Sara NY Karen CT Bob HK Tax Allocation- Contract A
Transcribed Image Text:The firm is paying pretax $100,000 per year for services included in Contract A. There are 5 employees at the firm (Larry, Bill, Sara, Karen and Bob) subscribed to the service who should pay equal shares of the cost. Using the information above and the provided tax chart, please fill in Chart 1-A with the expected pre-tax and tax allocation for each employee. Location NY CT HK Tax Rate 8.88% 1% Not taxable Chart 1-A Employee Location Pretax Allocation - Contract A Larry NY Bill HK Sara NY Karen CT Bob HK Tax Allocation- Contract A
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