Business, 11.12.2019 23:31 brucewaynel1043
Jones operates an upscale restaurant and he pays experienced cooks $43,000 per year. this year he hired his son as an apprentice cook. jones agreed to pay his son $46,400 per year. which of the following is a true statement about this transaction?
jones will be allowed to deduct $46,400 only if his son eventually develops into an expert cook.
jones can only deduct $23,200 because an apprentice cook is only worth half as much as an experienced cook.
none of these.
jones will be allowed to deduct $43,000 as compensation and another $3,400 can be deducted as an employee gift.
jones will be allowed to accrue $46,400 only if he pays his son in cash.
Answers: 3
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Jones operates an upscale restaurant and he pays experienced cooks $43,000 per year. this year he hi...
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