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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 $240 and a $2,590 cash bonus. What
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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 $240 and a $2,590 cash bonus. What amount must Ed include in his gross income

User Victorhooi
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6 votes

Answer:

$2,590 will be included in the gross income.

Step-by-step explanation:

The bonus earned from the employer as a bonus payment of $2,590 would have been included in gross sales.

The $250 golden watch earned would not be reported in the employee's gross salary.

User Bhoomika Brahmbhatt
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