Answered: What is Mr Tan’s employment income for…

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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Question

Mr Tan was paid a salary of $250,000 for 2019 and a non-contractual bonus of $50,000 to be paid in January 2020. He was also provided with a fully furnished accommodation. The total rent (inclusive of rent for furniture and fittings) paid by the employer in the year was $60,000.
What is Mr Tan’s employment income for the Year of Assessment 2020?

Question 14 options:

$360,000

$300,000

$310,000

$250,000

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