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Problem 12-24 (c) (LO. 3) Ambre Corporation hires eight individuals on April 2, 2019, all of whom qualify for the work opportunity tax credit. Five of the individuals receive wages of $8,600 during 2019, and each individual works 510 hours during the year. The other three individuals each work 300 hours, and each receives wages of $3,400 during the year.  If Ambre pays total wages of $191,000 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 (c) (LO. 3) Ambre Corporation hires eight individuals on April 2, 2019, all of whom qualify for the work opportunity tax credit. Five of the individuals receive wages of $8,600 during 2019, and each individual works 510 hours during the year. The other three individuals each work 300 hours, and each receives wages of $3,400 during the year.  If Ambre pays total wages of $191,000 to its employees during the year, how much of this amount is deductible in 2019, assuming the work opportunity credit is taken? $_____________

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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Problem 12-24 (c) (LO. 3)

Ambre Corporation hires eight individuals on April 2, 2019, all of whom qualify for the work opportunity tax credit. Five of the individuals receive wages of $8,600 during 2019, and each individual works 510 hours during the year. The other three individuals each work 300 hours, and each receives wages of $3,400 during the year.

 If Ambre pays total wages of $191,000 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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