In reference to the standard medicare supplement benefits plans what does the term standard mean

Gramps purchased a joint survivor annuity that pays $500 monthly over his remaining life and that of his wife, Gram. Gramps is 7

Bezzdna [24]

Answer:

$150

Explanation:

Calculation of how much income that Gramps will recognize on the first payment.

Since joint survivor annuity has 23.1 as the annual return multiple .

Calculation for Expected return

Expected return =Annual payment *Return multiple

($500*12) =$6,000

$6,000×23.1

=$138,600

Therefore :

$97,020/$138,600

=0.7×100

=70%

The 70% of each of the payment will be the return of capital while the 30%(100%-70%) will be the income.

Hence the first payment be:

30%×500

=$150

Therefore the amount of income that Gramps will recognize on the first payment will be $150

6 0

3 years ago

Which of the following statements is true of a trial balance?A.A trial balance has the same format as a balance sheet.B.A trial

seraphim [82]

Answer:

A trial balance presents data in debit and credit format.

Explanation:

There are two sections in the trial balance, called columns of debits and columns of credits. The total columns of debit and credit should always correlate or matched. The debit columns report assets and expenditures side while revenues stockholder equity, and the liability side are reported in the credit column.

4 0

2 years ago

Criminal investigation help please

Yakvenalex [24]

It cant be B because the exit wound is usually big , so im going with A

5 0

3 years ago

Read 2 more answers

At McDonald’s all new franchise owners and managers attend Hamburger University. During this two-week period, they are exposed t

Tanya [424]

Answer:

The correct answer is variable.

Explanation:

Socialization is the process by which a culture, society or organization conditions the behavior of its members, and speaking in the organizational field is the process by which people gradually acquire aspects of attitude, behavior and values that are understood and accepted. For the new employee.

6 0

3 years ago

Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepa

Vesna [10]

Question Completion:

Prepare income statement, statement of owners' equity, and a balance sheet.

Answer:

Elliptical Consulting

1. ELlIPTICAL CONSULTING

Income Statement for the year ended June 30, 2076:

Fees Earned $71,580

Salary Expense 28,670

Supplies Expense 3,340

Depreciation Exp. 1,990

Miscellaneous Exp. 3,010 37,010

Net Income $34,570

Statement of Owners' Equity for the year ended June 30, 20Y6:

Jayson Neese, Capital $38,320

Net Income 34,570

Jayson Neese, Drawing (4,880)

Jayson Neese, Equity $68,010

Balance Sheet as of June 30, 20Y6:

Assets:

Cash $15,780

Accounts Receivable 37,570

Supplies 640 $53,990

Office Equipment 30,810

Accumulated Depreciation 6,160 $24,650

Total assets $78,640

Liabilities + Equity:

Accounts Payable $10,140

Salaries Payable 490

Total liabilities $10,630

Jayson Neese, Capital $68,010

Total liabilities and equity $78,640

Explanation:

a) Data and Calculations:

Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 20Y6

Unadjusted Adjusted

Trial Balance Adjustments Trial Balance

Account Title Dr. Cr. Dr. Cr. Dr. Cr.

Cash 15,780 15,780

Accounts Receivable 37,570 37,570

Supplies 3,980 (a) 3,340 640

Office Equipment 30,810 30,810

Accumulated Depreciation 4,170 (b) 1,990 6,160

Accounts Payable 10,140 10,140

Salaries Payable (c) 490 490

Jayson Neese, Capital 38,320 38,320

Jayson Neese, Drawing 4,880 4,880

Fees Earned 71,580 71,580

Salary Expense 28,180 (c) 490 28,670

Supplies Expense (a) 3,340 3,340

Depreciation Exp. (b) 1,990 1,990

Miscellaneous Exp. 3,010 3,010

Totals 124,210 124,210 5,820 5,820 126,690 126,690

Adjusted

Trial Balance

Account Title Dr. Cr.

Cash 15,780

Accounts Receivable 37,570

Supplies 640

Office Equipment 30,810

Accumulated Depreciation 6,160

Accounts Payable 10,140

Salaries Payable 490

Jayson Neese, Capital 38,320

Jayson Neese, Drawing 4,880

Fees Earned 71,580

Salary Expense 28,670

Supplies Expense 3,340

Depreciation Exp. 1,990

Miscellaneous Exp. 3,010

Totals 126,690 126,690

6 0

2 years ago