# Determine the amount of income that must be recognized in each of the following cases: a. Ramona is.

Determine the amount of income that must be recognized in
each of the following cases:

a. Ramona is a production supervisor for White Company.
During the current year, her division had no accidents, and White rewarded the
achievement with a \$200 cash award to each employee in the division.

b. Lenny retires from the Brice Company this year. At his
retirement reception, the company gives him a set of golf clubs valued at \$600
in appreciation of his years of loyal service.

c. Fatima is named Humanitarian of the Year by Local City
for her volunteer service. She receives a plaque and an all-
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Determine the amount of income that must be recognized in
each of the following cases:

a. Ramona is a production supervisor for White Company.
During the current year, her division had no accidents, and White rewarded the
achievement with a \$200 cash award to each employee in the division.

b. Lenny retires from the Brice Company this year. At his
retirement reception, the company gives him a set of golf clubs valued at \$600
in appreciation of his years of loyal service.

c. Fatima is named Humanitarian of the Year by Local City
for her volunteer service. She receives a plaque and an all-expense-paid trip
to Washington, D.C., where she will meet the president. The value of the trip
is \$1,400.

d. Sook is a college professor specializing in computer chip
development. During the current year, he publishes a paper that explains the
design of a revolutionary new chip. Softmicro, Inc., awards him \$10,000 for the
best breakthrough idea of the year. Sook uses the money to purchase a computer
workstation to use in his research.

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