Money pooled from small investors and used to purchase government or corporate bonds

Helen spent the last 85 days of 2020 in a nursing home. The cost of the services provided to her was $27,625 ($325 per day). Med

Vsevolod [243]

Answer:

Amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

Explanation:

Data Given:

Number of Days Helen Spent = 85 days

Cost of the services = $27,625

Medicare Paid = $8400

Benefits received = $15440

Assumption: Federal Daily Excludible amount = $380

Solution:

Daily Statutory amount = Daily Excludible amount x number days spent

Daily Statutory amount = $380 x 85 days

Daily Statutory amount = $32300

We know that,

Amount of Medicare Paid = $8400

So, now we need to calculate the amount of exclusion first.

1. Amount of Exclusion = cost of the services - Medicare paid

Amount of Exclusion = $27625 - $8400 = $19225

So, now we calculate the amount included into the gross income of Helen.

2. Amount included in gross income = Benefits Received - Amount of Exclusion

Amount included in gross income = $15440 - $19225

Amount included in gross income = -$3785

Here, we will not cater the negative, which means that amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

5 0

2 years ago

Budget is a framework which guides the implementation, assessment, monitoring of all government programs to ensure sound financi

REY [17]

The yearly budget law, which covers the revenue and expenditure forecasts for a particular year, is planned, approved, executed, and audited within the permanent legal framework provided by the constitution, the budget organic law, and financial rules.

<h3>What is the Importance of a Budget in business?</h3>

It allows the business owner to focus on cash flow, cost-cutting, boosting earnings and boosting returns on investment. The cornerstone of every successful firm is budgeting. It assists with both planning and maintaining control over the company's finances.

An evaluation of a company's anticipated financial resources or the resources needed to finish a project constitutes a budget estimate. A budget estimate is a rough estimation of the amount of money that will likely be needed to finish a project or the amount of money that will be predicted to be available to a firm or organization.

Learn more about Budget here:

brainly.com/question/15683430

#SPJ1

4 0

1 year ago

On August 5, 2021, Blossom Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set

Gennadij [26K]

Answer:

$15,960

Explanation:

The total profit on units sold for the consignor:

= Sales Value - Cost of Goods Sold - Shipping Expenses - Commission - Advertising Expenses - Installation and setup costs

= (40 × $720) - (40 × $220) - [$1,850 × (40/50)] - ($28,800 × 5%) - $470 - $650

= $28,800 - $8,800 - $1,480 - $1,440 - $470 - $650

= $15,960

5 0

3 years ago

A firm has $3,600,000 in its common stock account and $36,000,000 in its paid in capital accountThe firm issued 450,000 shares o

butalik [34]

Answer:

the issue price is $88 per share

Explanation:

The computation of the issue price is shown below:

= (Common stock + paid in capital) ÷ (Number of common shares issued)

= ($3,600,000 + $36,000,000) ÷ 450,000 shares

= $39,600,000 ÷ 450,000 shares

= $88 per share

Hence, the issue price is $88 per share

3 0

2 years ago

Privacy protection in the united states is ________ in europe.

Rus_ich [418]

<span>Privacy protection in the United states is much less stringent than in Europe.

Stringent is another word for strict. European privacy protection laws are much more strict than those in the United States. Privacy protection refers to the means of protecting your privacy and companies are not allowed to give out personal </span>information without confirmation they are allowed to do so.

7 0

2 years ago