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Lena [83]
3 years ago
6

>Leland pays premiums of $5,000 for an insurance policy in the face amount of $25,000 upon the life of Caleb and subsequently

transfers the policy to Tyler for $7,500. Over the years, Tyler pays subsequent premiums of $1,500 on the policy. Upon Caleb's death, Tyler receives the proceeds of $25,000.As a result, what amount is Tyler required to include in his gross income?
Business
1 answer:
Ymorist [56]3 years ago
6 0

Answer:

He can include $16,000 in his gross income.

Explanation:

As the life insurance policy was transferred for some valuable consideration so the amount of valuable consideration will be deducted from the insurance proceeds.

Also premium paid by the transferee will be deducted from proceeds.

Now as the transferee received $25,000 from insuarance company.

So Tylor can include $25,000 less $7,500 less $1,500 in his gross income.

He can include $16,000 in his gross income.

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Smith buys and sells equity securities. On December 15, 2021, Smith purchased $542,000 of Jones shares and elected the fair valu
zimovet [89]

Answer:

$46,000

Explanation:

We can find out the the revaluation gain that need to be reported at the year end by just deducting the the cost of the investment by its current fair value .

DATA

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Revaluation gain = Current fair value - Cost

Revaluation gain = 588,000 - 542,000

Revaluation gain = $46,000

The revaluation gain of $46,000 will be reported in other compreensive income of smith's financial statements.

4 0
3 years ago
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Paha777 [63]

Answer:

C.

standards for the basic minimum wage and overtime pay

Explanation:

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8 0
3 years ago
Striking apparels has launched its new stock of summer wear. it plans to target shoppers between the ages of twenty and thirty t
const2013 [10]

Answer:

The answer is marketing.

Explanation:

Marketing is commonly defined as efforts to buy, advertise, distribute, and sell a product or service.

It is clear from the description in the question that Daniel works in the department since he is responsible to market Striking Apparel’s new products based on the target shoppers through social media and email marketing efforts such as sending out promotional emails and messages.  

3 0
3 years ago
LO 3.1A company’s product sells for $150 and has variable costs of $60 associated with the product. What is its contribution m
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Answer:

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Explanation:

The formula and the computation of the contribution margin per unit are presented below:

Contribution margin per unit = Selling price per unit - variable cost per unit

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If we deduct the variable cost per unit from the selling price per unit, then the contribution margin per unit can arrive

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3 years ago
Which best describes china's economic impact on living conditions and trends?
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I had to look for the options and here is my answer:

If we based it on the modern times, we can see that China's economic impact on living trends and conditions has positively influenced the people. This means that there is apparent manifestation of the improvement of their living compared to the previous years.
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