1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fynjy0 [20]
3 years ago
11

Armando, a manager for Petros Pizza Pies (PPP), dies in an accident on July 12. PPP pays his wife, Penelope, $600 in salary that

had accrued before Armando died. Armando was covered by a $90,000 group term life insurance policy, which is also paid to Penelope. In addition, the board of directors of PPP authorizes payment of $6,000 to Penelope and $4,000 to their child in recognition of Armando's years of loyal service and contributions to the success of the company. What are the tax consequences of the payments to Penelope and her child?
Business
1 answer:
stepan [7]3 years ago
8 0

Answer:

Explanation:

Ms. P receives $6,000 from Company P due to her husband A's loyal service and She receives $600 that her husband earned prior to his death. Hence, Ms P earns a total of $6,600 ($6000 + $600) gross income.

The amount of $90,000 receive from the life insurance proceeds are excluded from the gross income.

Ms P's daughter receives $4,000 from company P. It should be included in her daughter income.

You might be interested in
Jo is duly notified that her mortgage with Fund All Savings has been transferred to Big Loan Co. and that she should henceforth
Likurg_2 [28]

Answer:

Option D; JO IS LIABLE TO BIG LOAN CO. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

Explanation:

A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home.

Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.

A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.

When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.

Since Jo was notified about the reassignment from Fund All Savings to Big loan Co. but still continues to pay Fund All Savings and Big Loan Co. sues Jo for nonpayment. What is most likely to be the court's judgement is that JO IS LIABLE TO BIG LOAN Co. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

5 0
3 years ago
______ refers to changes in behavior, cognitions, values, language, cultural activities, personal relational styles, and beliefs
sergeinik [125]

Answer:

2. acculturation

Explanation:

Acculturation -

It is process where the cultural , psychological and social changes are balanced between any two cultures , which adapting the prevailing  one in the society , in  referred to as acculturation.

In this method , the people adapts to a particular new culture of the society.

In order to learn and adapt and live along with the society .

The people actively tries to adapt to the new prevailing culture by increasing participation.

Hence , from the given information of the question,

The correct term is acculturation.

3 0
3 years ago
One of the first technologies to truly revolutionize the business use of information was a stone tablet.
denis23 [38]

One of the first technologies to truly revolutionize the business use of information was a stone tablet. FALSE.

Answer: One of the first echnologies to truly revolutionize the business use of information were paper and the printing press.

When these developments came about, they made it easier for communication to be shared between businesses, cities, and the economy. Allowing for paper and the printing press increased communication and made room for new jobs. As they grew and expanded, new people were hired which helped the economy get a boost of new funds.

3 0
2 years ago
What is the outlook for marketing career opportunities
Fiesta28 [93]

Answer:

D The number of jobs in marketing is on the rise

Explanation:

7 0
3 years ago
What are the six basic step of the problem solving process? HURRY I NEED THIS QUICK
SSSSS [86.1K]

Answer:

1) identify your problem: Try to describe the problem as much as possible, as opposed to focusing on the potential consequences or implications of the problem.

2) Pin point the problem

3) so that means you should do research based on the problem ^

4)Try evaluating the problem.. perhaps looking at it in perspective ^

5)see how the problem could affect you or others

6) Then work out a plan to solve the problem

6 0
3 years ago
Read 2 more answers
Other questions:
  • Mandy has perfected the art of glass-blowing. She has made gifts for her friends for years and has always gotten rave reviews. S
    7·1 answer
  • In October, Glazier Inc. reports 42,000 actual direct labor hours, and it incurs $194,000 of manufacturing overhead costs. Stand
    12·1 answer
  • Use the following Window Breeze Company income statement to answer the question. Window Breeze Company is a small manufacturer o
    6·1 answer
  • financial institution that maintains some Treasury bond holdings sells Treasury bond futures contracts. If interest rates increa
    11·1 answer
  • Jill has joined the police academy. During the training process, Jill and the other cadets are made to wear uniforms and maintai
    8·1 answer
  • Carla Vista Corporation recently reported an EBITDA of $30.70 million and net income of $9.7 million. The company had $6.8 milli
    6·1 answer
  • If the labor force is 320,000 and the total population 16 years of age or older is 400,000, the labor-force participation rate i
    14·1 answer
  • What is true about economic resources? A) Economic resources include only money. B) Economic resources are limited. C) Economic
    9·2 answers
  • The following account appears in the ledger prior to recognizing the jobs completed in January:
    15·1 answer
  • ______ effect happens when the place a product was manufactured influences how consumers perceive the product.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!