Paul earned salary of $82,500 (before subtracting his 401(k) and flexible spending plan contributions and...
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Accounting
- Paul earned salary of $82,500 (before subtracting his 401(k) and flexible spending plan contributions and before adding any additional possible income items described in paragraphs 4-7, 11). He contributed $6,500 to his 401(k) account, and he contributed $2,600 to his flexible spending account. What is Schedule B income (Interest and dividends)?
2. ASCI paid $497 of whole life insurance premiums to cover Paul's personal whole life insurance policy. ASCI also paid health club dues of $825 to a nearby health club on Paul's behalf. What is Schedule C net income (Business income)?
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