Mary's Employment Income Calculation

What is the minimum employment income for Mary this year? Mary's minimum employment income for the year is a. $53,500 which comprises $50,000 annual salary and $3,500 as car allowance. Employment-related expenses such as automobile expenses and entertainment are not subtracted from total income when computing employment income.

Calculation of Mary's Minimum Employment Income

Mary's minimum employment income for the year can be calculated by adding her annual salary and car allowance.

Annual Salary: $50,000

Car Allowance: $3,500

Total Income: $50,000 + $3,500 = $53,500

Explanation:

To calculate Mary's minimum employment income for the year, we need to sum up her annual salary and the car allowance she receives as the car allowance is considered part of her income since it's not based on the kilometers she drove.

Employment-related expenses such as automobile expenses and entertainment are not deducted from the total income when determining employment income. Therefore, the answer to the question 'What is Mary's minimum employment income for the year?' is Option A: $53,500.

← A manager s role in active managerial control Treating interim periods as integral parts of annual periods the benefits explained →

More Posts: