Hank must reside overseas for the entire year

Assignment Help Financial Accounting
Reference no: EM13775767

Hank is a U.S. citizen and is doing a three to six year assignment as a sales executive in Paris for a French company, which began this year. Hank earned $109,500 working for the French company this year but only lived in France for 340 days (out of 365 days). What amount of Hank's $109,500 salary this year will he be allowed to exclude from gross income in the U.S. (rounded to the nearest one-hundred dollars)?

A. Hank can exclude his entire salary because he worked more than 330 days overseas

B. 102,000

C. 92,400

D. 99,200

E. None of his salary can be excluded from gross income because Hank must reside overseas for the entire year

Reference no: EM13775767

Questions Cloud

Example of positive relationship with regard your selection : What is 1 example of a positive relationship with regard to your selection? Explain why. What is 1 example of a negative relationship with regard to your selection? Explain why
Calculate the concentration of both sodium and acetate ions : Calculate the molarity of sodium in 1.9g of sodium acetate diluted in 100 mL of DI water - calculate the concentration of both sodium and acetate ions.
Potential impact of social networking on workplace : In this assignment, you will explore the potential impact of social networking on the workplace. You would be surprised by what people can find out by simply Googling the name of a job applicant.
Do you think their conclusions are accurate : For example, if you choose abusive relationships, would they study by report, observation, lab findings, or field study? Do you think their conclusions are accurate? Why or why not? How does your experience of the relationship support their findin..
Hank must reside overseas for the entire year : Hank is a U.S. citizen and is doing a three to six year assignment as a sales executive in Paris for a French company, which began this year. Hank earned $109,500 working for the French company this year but only lived in France for 340 days (out of ..
High biometric and low biometric issues : Describe how a low biometric is being used in the public and private sector today.
Participants interact with or react to one another : Develop a question, such as a research question, or select something specific to focus your observation. For example, you may focus on how the participants interact with the setting, or how the participants interact with or react to one another.On..
What you know about children have always played violent game : what you know about Children have always played violent games and they turned out okay and Dr. Dre says that violent video games are okay.
Predicted or implied exchange rate : If the price of the Big Mac is $2.50 in the U.S. and 500 foreign units (F) in the foreign nations, then the predicted or implied exchange rate is:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Discuss whether hazel behaving in a professional manner

Hazel and Cedric feel that investors would be more willing to invest in the company if they received a large quantity of shares for what might appear to be a obargain?? price.

  What depreciation would broadway record for the year

Broadway changed to sum-of-years'-digits depreciation for this equipment. What depreciation would Broadway record for the year 2011 on this equipment?

  Calculate the future value of an annuity stream

Calculate the future value of an annuity stream and calculate the expected rate of return for each stock separately.

  Elucidate amount that should doe recognize as compensation

If unexpected turnover in 2012 caused the company to estimate that 10% of the options would be forfeited, elucidate amount that should Doe recognize as compensation expense for 2012?

  Illustrate what is the journal entry at the end of current

At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $2.2 million. Illustrate what is the journal entry at the end of the current fiscal year?

  Considering upgrading its facilities to save consumer costs

An electric utility is considering upgrading its facilities to save consumer costs. Currently these consumer costs total $350,000 per year. Transformer upgrade Y would have an initial cost of $750,000, would last for 20 years with no salvage value, w..

  Listed below are five procedures followed by the beat

listed below are five procedures followed by the beat company.1.several individuals operate the cash register using the

  Calculation of overhead rate using traditional abc and

calculation of overhead rate using traditional abc and overhead cost allocation.venable inc. produces golf carts.nbsp

  What would be the following the rnoa

What would be the following the RNOA of the subsequent company?

  Proper year-end adjustment for the expired insurance

Dinosaur Junior Corporation purchased a one-year insurance policy in January 2015 for $75,000. The insurance policy is in effect from May 2015 through April 2016. If the company neglects to make the proper year-end adjustment for the expired insuranc..

  Prepare an overhead budget for the expected activity level

Prepare an overhead budget for the expected activity level for the coming year and Prepare an overhead budget that reflects production that is 25 percent lower than expected.

  The subsequent selected transactions relate to

the subsequent selected transactions relate to contingencies of classical tool makers inc. which started operations in

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd