Answer:
The correct answer is a) Payor Benefit
Explanation:
When the payor dies or becomes disabled, the insurer will suspend the premiums until the child reaches 19 years old, the child must be under age 18, or up to age 19 and still attending high school. Usually, the payor is a parent (father, mother, brothers).
Answer: See explanation
Explanation:
Triton Consulting Income Statement For the Year Ended April 30, 20Y3:
Fees earned 279000
Less: Expenses:
Salary expenses = 242000
Supplies expenses 1650
Depreciation expense. 900
Miscellaneous expenses 2000
Total expense = 246550
Net income 32450
Triton Consulting Balance Sheet April 30, 20Y3
Assets
Current assets
Cash 21500
Account receivable 51150
Supplies 750
Total current asset = 73400
Property, plant and equipments
Office equipment 32000
Accumulated Depreciation 5400
Total property,plant and equipment = 26600
Total asset = 100,000
Liabilities
Current liabilities:
Account payable: 3350
Salary payable: 2000
Total liabilities = 5350
Stockholders equity
Common stock 20000
Retained earnings 74650
Total stockholders equity = 94650
Total liability and stockholders equity = 100,000
The total amount of social insurance taxes you owe the federal government is $3,596.
The social insurance taxes will be tax rate (6.2%) of gross income amount of $58,000 which is calculated using this formula
Social insurance taxes=Social security tax rate× Gross income
Where:
Social security tax rate=6.2%
Gross income=$58,000
Let plug in the formula
Social insurance tax=6.2%×$58,000
Social insurance tax=$3,596
Inconclusion the total amount of social insurance taxes you owe the federal government is $3,596.
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Answer:
Explanation:
The journal entries are shown below:
On July 15:
Retained earning A/c Dr $169,000
To Dividend payable $169,000
(Being cash dividend declared is recorded)
On Aug 15:
No journal entry is required on the date of declared
On Aug 31:
Dividend payable A/c $169,000
To Cash A/c $169,000
(Being dividend is paid is recorded)
Answer:
Explanation:
A. Swiss watch manufacturers producing high quality time pieces.
1. Comparative Advantage
B. U.S. auto makers offering a great variety of makes and models of cars.
2. Specialization or Economies of Scale
C. The ability of developing nations to export textiles to wealthier countries.
US auto makers manufacture on large scale so they have economies of scale . Moreover they are technically superior because of specialisation .
1. Comparative Advantage
wealthier nation too can export textile but that will be costlier so developing nation has comparative advantage of cheap labour.
D. Doctors becoming experts in one type of medicine rather than becoming proficient in many areas.
2. Specialization or Economies of Scale
E. Your economics professor paying a gardener to do work that he/she could do on their own.
1. Comparative Advantage
Professor can earn more by using his time as a professor so he has comparative advantage .
