Robert Will Be Working Overseas on a Permanent Assignment for an International

question 129

Essay

Robert will be working overseas on a permanent assignment for an international company beginning on March 1 of this year (306 days this year).His salary is $11,000 per month while Robert is overseas,but only $9,200 per month otherwise.What is the minimum amount of Robert's salary that he must include in gross income this year? (Round your final answer to the nearest whole dollar amount & assume that there are 365 days in this year)

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Definitions:

Formal Instruments

Legally binding documents that record obligations, rights, or processes, such as contracts, deeds, or promissory notes.

Credit Issued

The provision of funds or goods before payment, based on the trust that payment will be made in the future.

Reasonable Source

A credible or reliable origin of information or data that is considered acceptable or trustworthy for making decisions or drawing conclusions.

Sold Receivables

The process of a company selling its receivables to a third party to improve its cash flow.