Question

This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, the company awarded Ed a gold watch worth $355 and a $2,970 cash bonus. What amount must Ed include in his gross income

Answer 1

Follows are the solution to this question:

Step-by-step explanation:

The gross profits would include the award won by the employee as a $2,970 cash bonus. $355 gold watch won't be provided Registered in the employee's gross salary.