One of the senior lawyers at Corneau & Corneau, a prominent Québec law firm, passed away after a brief illness

Accounting Apr 06, 2021

One of the senior lawyers at Corneau & Corneau, a prominent Québec law firm, passed away after a brief illness. The company paid a death benefit to the former employee's spouse in the amount of $50,000.00. Calculate the net death benefit to be paid.

Expert Solution

Net death benefit to be paid must be determined. Consequently, the count must be produced using the payer side.

As no other data is given, by and large when we requested to ascertain any income or cost as net, we produce into the thought the results of duty for example charge suggestions on such income or cost.

Along these lines for computing net death benefit to be paid, the measure of the death advantage of $50000 paid to previous' life partner is to be determined net of expense.

Like if the charge rate is 30%, the net advantage paid by the organization is (50000*0.70)= $35000

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