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Driller who is 56 years old is provided with 120000 of group term life insurance by his employer. Based on the IRS uniform premium cost table the total annual cost of a policy of this type id 9.00 per 1000 of coverage. Driller required contribution to the cost of the policy is 2.00 per 1000 of coverage per year. driller was covered for the full 12 months of 2010/ HOw much of the cost must Done include in his income for 2010.

a. 0

b. 390

c. 630

d. 840

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M985035

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