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Fynjy0 [20]
4 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]4 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 IT (Information Technology) implementation project is bogging down and falling behind schedule. The department heads are com
Tomtit [17]

Answer:

Crashing

Explanation:

The scenario perfectly explains 'Crashing', which is employed by project managers when deadlines of projects come closer. If a project is to be completed within the schedule in order to achieve it's intended benefits but with all the existing resources it's not becoming possible to have it completed on time, in such cases additional resources are brought in for completing the project or if securing of additional resources isn't possible, then under crashing, requirements or scope of the project could be reduced after taking major stakeholder's agreement. The purpose of crashing is to achieve maximum reductions in time with incurring minimum additional cost.

4 0
3 years ago
If Joe were to introduce himself as Dr. Early to sell to Gensol, knowing that people would assume that he was a medical doctor,
valentina_108 [34]

Answer:

C

Explanation:

Yes if he is giving his opinions on Gensol just to increase the sales and he is not a medical doctor, and people will assume that he is, then he will enter in fraudulent activity. Obviously this is not a criminal offense but its not ethical.

Just to increase sales he must not introduce himself as doctor of anything, considering the fact that people will consider him medical doctor and rely on his opinion. Its purely unethical and immoral.  

3 0
4 years ago
On January 15, Pinkney, Inc., issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years
vodomira [7]

Answer:

Jan 15   Land          $45,000 Dr

             Building    $95,000 Dr

                  Common Stock at par       $100,000 Cr

                  Paid in Capital in Excess

                  of Par, Common Stock       $40,000 Cr

Explanation:

The assets are recognized by a company at the market value on the day of transaction. The market value of land and building was $140,000 (45000 + 95000). Thus, the stock issued against these assets was issued at $14 per share ($140000/10000) and a premium of $4 / share was received.

The Land is debited by $45000 and building by $95000 while we credit the common stock at par value $100000 and credit the premium $40000.

7 0
3 years ago
Under rent control, bribery is a potential mechanism to:________
Georgia [21]

Answer:

A). bring the total price of an apartment (including the bribe) closer to the equilibrium price.

Explanation:

Rent control can be regarded as a program set up by the government which control the limit of amount that can be demanded by landlords for leasing out a home as well as renewal of a lease. The law that govern rent control are been enacted by municipalities, and it's a way to make lower-income residents have an affordable living cost. It should be noted that Under rent control, bribery is a potential mechanism to bring the total price of an apartment (including the bribe) closer to the equilibrium price.

7 0
3 years ago
What are the basic trends in diversity in the united states today? what accounts for these trends?
Contact [7]
<span>The basic trend in diversity in the United States has shown a steady increase in diversity, mainly due to the impact of immigration from different countries, due to economic (abundance of employment opportunities) or geopolitical reasons (e.g. wars)</span>
8 0
3 years ago
Read 2 more answers
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