Question

23. Problem Solving. Johnson, age 52, is a Supervisor for T. B. Web Co. His annual salary is $100,000 and he receives the following fringe benefits during the current year: - Triple W pays for all employees' health and accident insurance. T. B. Web pays $4,000 for Johnson's health insurance during the year. - T. B. Web provides Johnson with group-term life insurance coverage of $200,000 during the year. - T. B. Web has a flexible benefits plan in which employees may participate to pay any costs not reimbursed by their health insurance. Johnson has $3,600 withheld from his salary under the plan. - T. B. Web pays for mass transit passes for all employees of $100 a month. - T. B. Web pays Johnson's annual membership dues of $450 to the Society of Human Resource Management Association. The company also subscribes to several management journals for Johnson costing $650 a year, - Johnson's consumption of coffee provided by Triple W is valued at $700 a year. How much income must Johnson report from his job?

Answer 1

How much income must Johnson report from his job?

Answer is: $ 3,10,600

Refer to attached screenshot for detail explaination.

a) Answer :$3,10,600 Johnson annual salary $ 1,00,000 Add Benifits during the year:- Health Insurance s 4,000 b) life Insurance $ 2,00,000 c flexfble benefits $ *3600 d. Mass transitpåsses $ 100 x 12 1 200 e) for Soceity of Human CAnnual member) resourse Management Association 450 & Subscribes to several Mangementjownal for Johnson costing g, coffee provide by Triple w Johnson The income of - $3,10 600 - $ 650 700 from job