Problem 12-24 (b) (LO. 3) Olenka Corporation hires 13 individuals on March 12, 2019, all of whom qualify for the work opportunity credit. Nine of these individuals receive wages of $16,500 during 2019, and each individual works more than 400 hours during the year. The remaining four employees worked 100 hours and earned $2,100 during the year. b. If Olenka pays total wages of $312,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? $_____________
Problem 12-24 (b) (LO. 3) Olenka Corporation hires 13 individuals on March 12, 2019, all of whom qualify for the work opportunity credit. Nine of these individuals receive wages of $16,500 during 2019, and each individual works more than 400 hours during the year. The remaining four employees worked 100 hours and earned $2,100 during the year. b. If Olenka pays total wages of $312,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? $_____________
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 12-24 (b) (LO. 3)
Olenka Corporation hires 13 individuals on March 12, 2019, all of whom qualify for the work opportunity credit. Nine of these individuals receive wages of $16,500 during 2019, and each individual works more than 400 hours during the year. The remaining four employees worked 100 hours and earned $2,100 during the year.
b. If Olenka pays total wages of $312,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? $_____________
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