prob007 - Problem 7 (Text: Ch. 3) The following information...

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Problem 7 (Text: Ch. 3) The following information for 2008 has been presented to you by Paula Promoter, the new vice-president of marketing for a public Canadian oil company, Overpriced Petroleum Limited. Paula, who is 52 years old and who now lives in Calgary, travels extensively across Canada. Paula, whose duties involve the negotiating of contracts, began her employment with Overpriced Petroleum on January 1, 2008. Receipts and Fringe Benefits— 2008 Salary — net of payroll deductions. ........................................................ ............................................................. $43,308 Director fees . .......................................................................................... 5,000 Receipt of an amount, not to compete, from former employer ................................................................................................................. 50,000 Termination payment from former employer ................................................................................................................. 8,000 Travel allowance (Note (2) below): Accommodation and meals @ $200 per day for 150 days ........................................................................................................... 30,000 Car operating cost allowance @ 25¢ per kilometre plus $10 per day of travelling for business travel only (9,000 kilometres) for 150 days .................................................................................................... 3,750
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This note was uploaded on 11/19/2010 for the course ACC 742 taught by Professor Sydor during the Spring '10 term at Ryerson.

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prob007 - Problem 7 (Text: Ch. 3) The following information...

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