Alan's employer maintains a long-term disability income plan on which it pays all premiums. Last year, Alan received $40,000 in benefits under the plan during his period of disability. How much of the benefits received, if any, must Alan include in his income

Answers

Answer 1

Answer:

$40,000

Explanation:

If Alan had paid the disability insurance himself, then disability income would not be taxable. But since Alan's employer paid the disability insurance premiums, then any disability payments that Alan received must be included in his gross income and are taxable.

Answer 2

The amount of the benefit received if any must Alan include in his income should be $40,000.

The following information should be considered:

In the case when Alan had paid the disability insurance himself, then disability income would not be taxable. But since Alan's employer paid the disability insurance premiums, then any disability payments that Alan received must be included in his gross income and are taxable.

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Related Questions

Social responsibility is know as ______.
A. profit and planet
B. people and community
C. none of the options are correct
D.people and profit

Answers

Answer:

B. people and community

Explanation:

Social responsibility is known as people and community. In other words it refers to any and all responsibilities that you may have when being part of a community or society to make that community better. This involves a wide range of responsibilities or obligations such as volunteering, cooperating with others, ethical and moral choices, etc. Anything that benefits the larger structure that you are part of would be considered a social responsibility.

The term that can be used to describe Social responsibility isB:people and community

Social responsibility  can be regarded as ethical framework as well as suggests, which explains that there are different obligation for individual so they can  work and cooperate with other.

It involves different individuals and the community as a whole and all organizations.

Therefore, option B is correct.

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Ken just purchased new furniture for his house at a cost of $16,700. The loan calls for weekly payments for the next 6 years at an annual interest rate of 11.17 percent. How much are his weekly payments

Answers

Answer: $73.51

Explanation:

No. of periods = 6 * 52 weeks = 312 weeks

Weekly Interest rate = 11.17%/52 = 0.2148%

Weekly Payment = Cost * (rate / ( 1 - ( 1 + r ) ^ -n))

= 16,700 * (0.2148% / (1 - (1 + 0.2148%)⁻³¹²))

= $73.51

In 1926, Nedda McGrath became the first female
O copywriter
O art director
O editor
O graphic designer

Answers

Answer:

art director

Explanation:

ART DIRECTOR

Drag each example to the corresponding step in the new-product development process.
1. Idea Generation
2. Concept Testing
3. Product Development
4. Market Testing
5. Product Launch
6. Evaluation of Results
A. Samples
B. Big box
C. Brainstorm
D. Prototypes
E. Strong sales
F. Presentation

Answers

Answer:

1. Idea Generation  ⇒ C. Brainstorm

Brainstorming is a process used to generate a large number of ideas where participating members contribute with any ideas that they can come up with.

2. Concept Testing  ⇒  B. Big box

3. Product Development   ⇒ D. Prototypes

When a company is developing a product, the firs thing that they will come up with is a prototype of the product.

4. Market Testing   ⇒ A. Samples

Free samples are important when you are testing a new product, e.g. handing out free samples

5. Product Launch   ⇒ F. Presentation

The formal presentation of a product takes place when the product is launched into the market.

6. Evaluation of Results  ⇒ E. Strong sales

The way that a company can evaluate if a product was accepted or not by the market is to see their sales records, if sales are strong, then the product was accepted.

A business owner makes 50 items a day. She spends 8 hours in producing those items. If hired elsewhere she could have earned $10 an hour. The item sells for $10 each. Production occurs seven days a week. If the explicit costs total $10,000 a month the economic profit for the month equals:

Answers

Answer:

$2,600

Explanation:

The computation of economic profit is shown below:

Economic profit = Revenues - Economic cost

where,

Economic cost = Explicit cost + Implicit (opportunity) cost

where,

Implicit cost

= $10 × 8 hours × 30 days

= $2400

And,

Explicit cost for a month = $10,000

So,

Economic cost is

= $10,000 + $2400

= $12,400

Now

The Revenue

= Price × quantity

= $10 × 50 items × 30 days

= $15,000

Finally

Economic profit is

= $15,000 - $12,400

= $2,600

As the cost of storage continues to decrease, SANs are emerging to be a better storage and data protection alternative for _______.

a. Enterprise Computing
b. Cloud Computing
c. SMBs
d. Secured Access

Answers

Answer:

a. Enterprise Computing

Explanation:

Remember, it is Enterprises that are most often concerned about data protection alternatives. Hence, SANs (Storage Area Networks) are providing improved data protection, by connecting several networks together using an enterprise-centered design approach.

This technology has indeed acted as a cost-effective storage alternative for some enterprises today.

If there is a scarcity of supply in potatoes and many people want to buy, the prices is likely to be​

Answers

The price of potatoes will go up. Due to the fact of being low on the supply of potatoes. While tons of people wants to buy some potatoes. So if they want it bad enough, they will pay a more expensive price which results in the prices rising.

Helen,a manager for Marshall Manufacturing,spends much of her time reviewing the global,technological,socio-cultural,competitive,and economic factors that can influence the success of her firm's marketing efforts.Helen's efforts indicate that she is involved with environmental scanning. Environmental scanning is the process of identifying the factors than can affect marketing success.

a. True
b. False

Answers

Answer:

a. True

Explanation:

The environment scanning means the scanning of the environment. In this, the information is collected with respect to the events and their relationship of an organization that could be internal and external. The main motive of this is to be measure the direction of the organization in near future

Also it identified the factor that impacts the success of the marketing

Therefore the given statement is true

If Jane is not maximizing her utility with the original purchase, remembering the Law of Diminishing Marginal Utility, would she be better off buying one less fries and one more chicken sandwich? Explain your reasoning and show any calculations.

Answers

Answer:

Since Jane's marginal utility per dollar spent is much greater for chicken sandwiches, that means that she is not maximizing her utility by purchasing fries. Instead of buying the third order of fries she should buy another chicken sandwich. The third order of fries only yields 3 utils per dollar. We are not given the exact utils per dollar of the fourth chicken sandwich, but the third one yielded 15 utils per dollar and the marginal decline is not that steep. The important number is the utils per dollar, not the price of the goods.

Bellue Inc. manufactures a single product. Variable costing net operating income was $111,700 last year and its inventory decreased by 3,000 units. Fixed manufacturing overhead cost was $2 per unit for both units in beginning and in ending inventory. What was the absorption costing net operating income last year

Answers

Answer:

$105, 700

Explanation:

The cause of the difference between the Variable Costing Net Operating Income and Absorption Costing Net Operating Income is because of fixed costs absorbed in inventory using the absorption costing method.

We need to reconcile the Variable Costing Net Operating Income to Absorption Costing Net Operating Income.

Reconciling the Variable Costing Net Operating Income to Absorption Costing Net Operating Income

Variable costing net operating income                    $111,700

Fixed costs in Inventory decrease (3,000 × $2)      ($6,000)

Absorption Costing Net Operating Income            $105,700

Conclusion :

The absorption costing net operating income last year was $105, 700

Byron Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $103,000. The equipment will have an initial cost of $423,000 and have a 5-year life. The salvage value of the equipment is estimated to be $80,000. If the hurdle rate is 12%, what is the approximate net present value

Answers

Answer:

The approximate net present value is $41,005.

Explanation:

Note: See the attached excel file for the calculation of the net present value (in red color).

In the attached excel file, the following are used:

n = The particular year in reference

r = hurdle rate = 12%, or 0.12

The approximate net present value is therefore calculate by adding all the present values in the attached excel file from year 0 to year 6 to obtain $41,005.

Which of the following explains why businesses often use graphics
to warn workers of dangerous situations?

Answers

Answer:

There are no options listed, but a can cite a few reasons why companies use graphic signs:

statistically, the number of work related injuries decrease as the level of safety signage increases. visual signs are extremely effective ways of communicating, and when it comes to dangerous activities, their effectiveness increases. people tend to pay more attention to graphic signs than to written signs, that is the same reason why signs and logos are placed outside a company in order to identify it.graphic signs are very easy to recognize and associate. graphic signs do not need further or complex explanations, i.e. a picture is worth more than 1,000 words.and a long list of etc.

Marigold Corp. constructed a building at a cost of $13600000. Weighted-average accumulated expenditures were $5700000, actual interest was $560000, and avoidable interest was $280000. If the salvage value is $1110000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is $326250. $319250. $347000. $461750.

Answers

Answer:

$121,750

Explanation:

Cost of the building = 13600000

Average accumulated expenses = 5700000

Actual interest = 560000

Avoidable interest = 280000

Salvage value = 1110000

Life in years = 40 years

Depreciation expenses for 1st full year = {(Average accumulated expenses + Avoidable interest) - Salvage value} / Life in years

Depreciation expenses for 1st full year = (5700000 + 280000 - 1110000) / 40

Depreciation expenses for 1st full year = 4870000 / 40 years

Depreciation expenses for 1st full year = $121,750

What are the two types of agencies and where do they receive their power and duties? a. International agencies receive their power directly from the president and Congress. Domestic agencies also receive delegated power and authority from the president and Congress. b. Executive agencies receive their power delegated from the executive branch (the president). Independent agencies receive their power as delegated from Congress. c. Economic agencies receive their power as delegated from the president and Congress. Independent agencies also receive their power as delegated from the president and Congress.

Answers

Answer: b. Executive agencies receive their power delegated from the executive branch (the president). Independent agencies receive their power as delegated from Congress.

Explanation:

There are two types of Administrative agencies in the United States: Executive and Independent.

Executive agencies are created by the Presidency and are therefore answerable to the president. They usually have a single leader who sits on the President's cabinet.

Independent agencies are created by an Act of Congress to manage complex areas of operation. They do not usually have a single leader but rather a board or commission with leaders that do not sit on the President's cabinet. An example is the Environmental Protection Agency(EPA).

Your neighbor borrowed your new lawn mower and used it to trim his rock garden thus destroying it. Your lawn mower which cost you $100 at Home Depot. Your neighbor refuses to pay for it. You have to sue him in a Texas court to be compensated for your loss. What court will you go to

Answers

Answer: District court

Explanation:

In this scenario, since the neighbor have to be sued in a Texas court so as to be compensated for the loss that was incurred, the district court can handle this.

It should be noted that most district courts are usually courts that handle small cases such as this like domestic related cases or probably cases involving little crimes.

In this case, the district court can handle the lawsuit because the neighbor must be sued in a Texas court to be reimbursed for the loss. It should be noted that most district courts handle tiny cases like these, such as domestic violence situations or likely instances involving minor offenses.

So, the District Court is the correct court I can sue my neighbor in.

About District Court in Texas:

Texas district courts are the state's general jurisdiction trial courts. The Legislature determines the geographical region served by each court, but each county must have at least one district court.

Several counties may be served by a single district court in sparsely populated portions of the state, whereas an urban country may be served by multiple district courts.

In felony criminal cases, divorce cases, cases involving title to land, election contest cases, and civil issues involving a sum of money or damages of $200 or more, district courts have initial jurisdiction.

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For a present sum of $840,000, determine the annual worth (in then-current dollars) in years 1 through 6 if the market interest rate is 10% per year and the inflation rate is 3% per year. The annual worth is:________ $ .

Answers

Answer:

The annual worth is:________

$667,380

Explanation:

Present value of investment  = $840,000

Number of years = 6

Market interest rate = 10%

Inflation rate = 3%

Real interest rate = 7%

PV Annuity factor = 4.767

Total FV of annuity = $840,000 * 4.767 = $4,004,280

Annual worth = $4,004,280/6 - $667,380

The annual worth of the investment of $840,000 will be $667,380 based on the market-adjusted interest rate of 7% (10 - 3).

Becky wants to have $2,000 for spending money on vacation in 2 years. How much does she need to put in the bank today at 5% to have the the $2,000 in 2 years?

Answers

Answer:

the amount that need to put in the bank today is $1,814.059

Explanation:

The computation of the amount that need to put in the bank today i.e. present value is shown below

As we know that

Future value = Present value × (1 + rate of interest)^number of years

$2,000 = Present value × (1 + 0.05)^2

$2,000 = Present value × 1.05^2

So, the present value is $1,814.059

hence, the amount that need to put in the bank today is $1,814.059

In 2020, Monty Corporation had net cash provided by operating activities of $486,000, net cash used by investing activities of $976,000, and net cash provided by financing activities of $627,000. At January 1, 2020, the cash balance was $348,000. Compute December 31, 2020, cash. Cash, December 31, 2020

Answers

Answer:

Monty Corporation

Computation of Cash at December 31, 2020:

$485,000.

Explanation:

a) Data and Calculations:

Net cash provided by operating activities = $486,000

Net cash used by investing activities =         (976,000)

Net cash provided by financing activities = $627,000

Net cash inflow =                                           $ 137,000

January 1, 2020 Cash balance                       348,000

December 31, 2020 Cash balance              $485,000

b) The above implies that Monty made more (cash inflow) cash of $137,000 between January 1, 2020 and December 31, 2020.  This is added to the January 1, 2020 cash balance to arrive at the December 31, 2020 cash balance.

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