Salaries and Wages (LO 2.2) Kristen, a single taxpayer, receives two 2020 Forms W-2 from the two employers she worked for during the year. One Form W-2 lists her wages in Boxes 1, 3, and 5 as $18,700. Her other employer's Form W-2 has $43,000 in Box 1 but only $46,500 in both Box 3 and Box 5. Kristen participated in the second employer's 401(k) plan. She also received health care from her second employer. Lastly, her second employer provided $30,000 of group term life insurance to Kristen. Required:
a. What amount should Kristen report as taxable wages in 2020?
b. What could explain the difference between Box 1 wages and Boxes 3 and 5 on her second employer’s W^-2?

Power plants that rely on coal increase the amount of sulfur dioxide that dissolves into the air, eventually increasing the acidity of precipitation. the higher acidity of rain and snow can damage forests by making it more difficult for plants to absorb minerals from the soil. the equations below provide information about the market demand and supply of electricity. there is a constant marginal external cost of $25 per unit of electricity. d: qd= 200 – 2ps: qs=p – 10what quantity of electricity satisfies allocative efficiency in this market? a. 60b. 70c. 50d. 43.3

Warner inc. sells a high-speed retrieval system for mining information. it provides the following information for the year. budgeted actual overhead cost $965,700 $905,000 machine hours 58,570 49,200 direct labor hours 107,300 104,200 overhead is applied on the basis of direct labor hours. compute the predetermined overhead rate. predetermined overhead rate $ per direct labor hour link to text determine the amount of overhead applied for the year. the amount of overhead applied $

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.