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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.

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The perception of unfairness

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The perception of unfairness

the feeling of unfairness come when one feel unjust and unequal. It is a feeling of inequality or partiality toward one.

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3 0
3 years ago
Mathematics VII
dsp73

Answer:

6 inch + 6 inch = 1 foot, so you will get 16, 6 inch sections!

Hope this helps!

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Explanation:

6 0
3 years ago
You decided it is important to pay off some of your debt to help build your credit score. If you paid $1,307 interest on $45,000
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Answer: 73days

Explanation:

$1,307 interest on $45,000 at 4.0%

Time used in paying back the loan is calculated thus:

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Using the Simple Interest formula

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T = 130,700/1,800

= 72.6

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5 0
3 years ago
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I think home ownership is important to most Americans today because they want to have the pride of owning their own home and the
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A client with multiple myeloma presents to the emergency department complaining of excessive thirst and constipation. His family
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Answer:

2. Serum calcium level 13.8 mg/dl

Explanation:

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