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3 years ago

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Business

1 answer:

BartSMP [9]3 years ago

7 0

It's hehhdfsjgsisgdsjsb,gvsjsvgsgejdnxgndjdgdusjehgsnskhsgzjosbdjd there's the answer XD

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For federal tax purposes, which of the following is true regarding lump-sum life insurance benefits?

Lorico [155]

Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.

A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.

For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.

Learn more about tax on:

brainly.com/question/9437038

7 0

2 years ago

Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 an

inna [77]

Answer:

Terry's Closing Inventory is $131,360.

Terry's Gross profit is $431,360.

We follow these steps to arrive at the answers:

1. Calculate the base value of closing inventory (CI):

$CI_{base value} = \frac{CI*Index at base year}{current price index}$

$CI_{base value} = \frac{143360*100}{112} = 128,000$

2. Calculate additions to inventory at base price

$Additions to inventory = CI_{base value} - Beginning inventory$

$Additions to inventory = 128000 - 100000 = 28,000$

3. Calculate the value of additions to inventory at current prices

$Additions to inventory_{current Value} = Additions to inventory_{base Value} * \frac{current price index}{base price index}$

$Additions to inventory_{current Value} = 28,000 * \frac{112}{100} = 31,360$

4. Calculate the value of Closing inventory

$Closing inventory = Beginning Inventory + Additions to inventory_{current Value}$

$Closing inventory = 100,000 + 31,360 = 131,360$

5. Compute Cost of Goods Sold (COGS):

$COGS = Opening Inventory + Purchases - Closing Inventory$

$COGS = (100000 + 600000 - 131360) = 568640$

6. Compute Gross profit

$Gross profit = Sales - COGS$

$Gross profit = 1000000 - 568640 = 431360$

5 0

3 years ago

_______________ involves two or more individuals who believe that their attitudes, behaviors, or preferred goals are in oppositi

Elza [17]

Answer:B

Explanation:

7 0

2 years ago

ABC Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department

Sveta_85 [38]

Answer:

$9.94

Explanation:

Equivalent unit of conversion cost = 56,800 + (7,300*40%)

Equivalent unit of conversion cost = 56,800 + 2,920

Equivalent unit of conversion cost = 59,720 unit

Total cost of conversion = $34,558 + $559,254

Total cost of conversion = $593,812

Cost per equivalent unit of conversion = Total cost of conversion / Equivalent unit of conversion cost

Cost per equivalent unit of conversion = $593,812 / 59,720 units

Cost per equivalent unit of conversion = $9.9432686

Cost per equivalent unit of conversion = $9.94

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2 years ago

Text Problem 5

Alik [6]

Answer:

Please find the answer in the attached image

Explanation:

Please find attached the table used in answering this question

Marginal benefit is the change in total benefit when consumption is increased by one unit

Please find attached the image used in answering this question

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3 years ago