Sangeeta is employed by Avatar Inc. and is a member of the DPSP sponsored by the...
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Sangeeta is employed by Avatar Inc. and is a member of the DPSP sponsored by the company. Contributions to the plan are based on 1.75% of the annual profits generated by the company, which for this year was $1,875,000. If Sangeeta earns $82,000 and the money purchase limit for the current year is $25,370, what is the MAXIMUM amount Avatar Inc. can contribute to the DPSP on behalf of Sangeeta? Sangeeta is employed by Avatar Inc. and is a member of the DPSP sponsored by the company. Contributions to the plan are based on 1.75% of the annual profits generated by the company, which for this year was $1,875,000. If Sangeeta earns $82,000 and the money purchase limit for the current year is $25,370, what is the MAXIMUM amount Avatar Inc. can contribute to the DPSP on behalf of Sangeeta?
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Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118983270
7th edition
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
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