Nicole's employer, poe corporation, provides her with an automobile allowance of $20,000 every other year. her marginaltax rate is 30 percent. poe corporation has a marginal tax rate of 35 percent. answer the following questions relating tothis fringe benefit. a. what is nicole‘s after-tax benefit if she receives the allowance this year (ignore fica taxes)? b. what is poe‘s after-tax cost of providing the auto allowance? c. what is nicole? s after-tax benefit if she receives the allowance this year, andher salary is below the social security wagebase limit (include fica taxesin your analysis)? d. what is poe? s after-tax cost of providing the auto allowance. and nicole? ssalary is under the social security wage baselimit (include fica taxes inyour analysis)? e. what is nicole? s after-tax benefit if she receives the allowance this year. andher salary is over the social security wagebase (include payroll taxes in youranalysis)? f. what is poe? s after-tax cost of providing the auto allowance if nicole? s salaryis over the social security wage base(include payroll taxes in your analysis)?

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Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?