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4 years ago

When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may be considered a red flag for

1 answer:

3 0

When a policy owner cash surrenders a Universal Life insurance policy in its early years, this may be considered a red flag for the government. The pre – death distribution of an insurance policy is taxable. Therefore, when an owner surrenders his life insurance in its early years, he is trying to avoid the possible taxes.

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The following totals for the month of June were taken from the payroll records of Seminole Company: Salaries, $100,000 FICA taxe

tekilochka [14]

Answer:

Given that,

Salaries = $100,000

FICA taxes withheld = $7,650

Income taxes withheld = $18,000

Federal unemployment taxes = $450

State unemployment taxes = $2,100

Therefore,

Payroll Tax Expense:

= FICA taxes withheld + Federal unemployment taxes + State unemployment taxes

= $7,650 + $450 + $2,100

= $10,200

The journal entry is as follows:

Payroll Tax Expense A/c Dr. $10,200

To FICA taxes withheld $7,650

To Federal unemployment taxes $450

To State unemployment taxes $2,100

(To record accrual of employer’s payroll taxes)

6 0

3 years ago

If your lifestyle budget is $50000 a year selecting a career earning $75,000 will most likely allow you to meet your lifestyle g

NARA [144]

From what is said the answer is true. that leaves 25000 over your lifestyle budget

8 0

3 years ago

The doctrine that makes a defendant liable even if the defendant is without fault is called...

Elanso [62]

C: strict liability

I hope this helped ya :)

4 0

3 years ago

"A forklift will last for only 2 more years. It costs $5,000 a year to maintain. For $20,000 you can buy a new lift that can las

BabaBlast [244]

Answer:

a. $2,465.82

b. $3,539.68

c. Yes, we should

Explanation:

Annual cost to maintain old forklift is $5,000

Equivalent Annual Cost (EAC) of new forklift = (Asset price x discount rate)/(1-(1+discount rate)-n), in which n is the number of year for usage of this forklift?

If discount rate is 4% per year, the EAC of new forklift is $2,465.82

= ($20,000x4%)/(1-(1+4%)-10)

If discount rate is 12% per year, the EAC of new forklift is $3,539.68

= ($20,000x12%)/(1-(1+12%)-10)

We should replace because with such above discount rate, the old forklift is more costly than the new one

5 0

3 years ago

The rate of return required by investors in the market for owning a bond is called the:_______

VashaNatasha [74]

The rate of return required by investors in the market for owning a bond is called the Yield to maturity

A bond's coupon rate is the rate it pays each year, and yield is the return it makes. A bond's coupon is expressed as a percentage of its face value. Face value is simply the face value of the bond or the value of the bond as quoted by the issuer.

A bond's current yield is the annual income from the investment, including interest and dividend payments, divided by the security's current price. Yield to maturity (YTM) is the expected total return from holding a bond to maturity.

The current yield is the annual rate of return on investment (interest or dividend) divided by the security's current price. This indicator looks at the current price of a bond rather than its face value.

Learn more about maturity here brainly.com/question/26376004

#SPJ4

6 0

2 years ago