Answer:
Ahmad must report his disability payments as income.
Explanation:
Disability payments are taxable only if the insurance premium was paid by Ahmad's employer (which happened in this case). If Ahmad had paid the premium himself, then the disability premiums would not be considered income. If the premiums had been paid by both Ahmad and his employer, then only the proportion paid by Ahmad's employer would have been taxed.
Explanation
I think your question missed of key information for question 2, so I just answer question at my best for helping you.
Debit Credit
11-Oct
Treasury 292400
Cash 292400
<em>Being own shares repurchased
</em>
1-Nov
Cash (1,450 × 49) 71,050
Treasury Stock (1,450 × 43) 62,350
Paid-in Capital from Sale of Treasury Stock 9,700
<em>To record the sale of treasury stock. </em>
November 25
Cash (5350 × 38) 203,300
Paid-in Capital from Sale of Treasury Stock 9,700
Retained Earnings 17,050
Treasury Stock (5350 × 43) 230,050
<em>To record the sale of the remaining treasury shares </em>
Answer:
No
Explanation:
When Congress enacted the Federal Reserve Act in 1913, they stated the FED's mandates:
- promote maximum employment
- promote stable price
The FED's main objective is to conduct monetary policy in order to stabilize the economy and promote economic growth.
By stabilizing the economy the FED will lower inflation rate, therefore stabilizing prices. When the FED promotes economic growth, the unemployment rate should decrease, hopefully reaching a full employment.
Answer: dishonesty and dependence.
Explanation:
Answer:
$19,462
Explanation:
The computation of the cash and cash equivalent is shown below:
= Cash in bank account + Money market fund balance + petty cash balance + money orders
= $6,455 + $12,400 + $350 + $257
= $19,462
It includes only cash in bank account, balance in money market, petty cash balance and the money orders
All other information which is given is not relevant. Hence, ignored it
