Vladimir Marsh has been employed by the Ace Distributing Company for the past three years. During the following amounts were credited to Ms. Marsh's payroll account, for the year 2021: Salary of $60,500 as per her employment contract. • Reimbursement of employment related travel costs as per invoices supplied by Ms. Marsh ● totalling $4,250. • Fees of $1,200 for serving as the employee's representative on the Company's board of directors. • Reimbursement of $1,100 in tuition fees for a work related course. • A $1,560 dividend on Ace Distributing Company shares acquired through the employee purchase program. • Fees of $1,200 for serving as the employee's representative on the Company's board of directors. Mr. Marsh also purchased shares from the company ABC Inc. All purchases were made in the year 2021. November 1st Purchase of 3000 shares for 8,75$ November 10th Purchase of 2500 shares for 8,90$ November 15th Purchase of 1250 shares at 9,25$
Vladimir Marsh has been employed by the Ace Distributing Company for the past three years. During the following amounts were credited to Ms. Marsh's payroll account, for the year 2021: Salary of $60,500 as per her employment contract. • Reimbursement of employment related travel costs as per invoices supplied by Ms. Marsh ● totalling $4,250. • Fees of $1,200 for serving as the employee's representative on the Company's board of directors. • Reimbursement of $1,100 in tuition fees for a work related course. • A $1,560 dividend on Ace Distributing Company shares acquired through the employee purchase program. • Fees of $1,200 for serving as the employee's representative on the Company's board of directors. Mr. Marsh also purchased shares from the company ABC Inc. All purchases were made in the year 2021. November 1st Purchase of 3000 shares for 8,75$ November 10th Purchase of 2500 shares for 8,90$ November 15th Purchase of 1250 shares at 9,25$
Chapter4: Income Tax Withholding
Section: Chapter Questions
Problem 5PB
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Transcribed Image Text:2)
Vladimir Marsh has been employed by the Ace Distributing Company for the past three years. During
the following amounts were credited to Ms. Marsh's payroll account, for the year 2021:
• Salary of $60,500 as per her employment contract.
• Reimbursement of employment related travel costs as per invoices supplied by Ms. Marsh
totalling $4,250.
• Fees of $1,200 for serving as the employee's representative on the Company's board of
directors.
3)
• Reimbursement of $1,100 in tuition fees for a work related course.
• A $1,560 dividend on Ace Distributing Company shares acquired through the employee
purchase program.
• Fees of $1,200 for serving as the employee's representative on the Company's board of
directors.
Mr. Marsh also purchased shares from the company ABC Inc. All purchases were made in the year
2021.
November 1st Purchase of 3000 shares for 8,75$
November 10th Purchase of 2500 shares for 8,90$
November 15th Purchase of 1250 shares at 9,25$
November 20th Purchase of 1750 shares at 9,50$
1) Please calculate the adjusted cost base on November 20th, considering that every transactio
carried a cost of 10$.
What would be the capital gain if 2000 shares are sold on February 20th, 2022, for 12$ eac
What is the total taxable income of Mr Marsh in 2021, considering all earnings of the year
December 12th, Sale of 2000 shares at 10,75.
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