Homework Problem 9-3 - Problem 9-3 Ms Michelle Wong has...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 9-3 Ms. Michelle Wong has worked for Famous Food Importers in Montreal for over 20 years. Her current salary is $15,000. She has requested a transfer to the Vancouver office and the company has agreed. They will do the following for her: 1. Provide her with a $20,000 moving allowance 2. Compensate her in full for any loss on her Montreal home 3. Provide her with a one-time payment of $10,000 to assist her with the higher housing costs in Vancouver During September, Ms. Wong flies to Vancouver for house hunting. Unable to locate affordable housing, she leases a condominium for 12 months, beginning in December for $2,500/month. She lists her Montreal residence in September for $625,000, but it sells for $550,000. The costs of the sale are: Real Estate Commission $27,500 Legal Fees 800 Property Taxes to date of sale 1,500 3,800 Total $33,600 Ms. Wong will continue to work in Montreal until November 15 th , but the new owners move into the house on October 20
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/18/2011 for the course ECON 101 taught by Professor Professor during the Spring '11 term at American University of Antigua.

Page1 / 3

Homework Problem 9-3 - Problem 9-3 Ms Michelle Wong has...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online