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Bond [772]
3 years ago
6

An employee quits her job where she has a balance of $10,000 in her qualified plan. The balance was paid out directly to the emp

loyee in order for her to move the funds to a new account. If she decides to rollover her plan to a Traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax-free rollover?
Business
1 answer:
yawa3891 [41]3 years ago
3 0

Answer:

$8,000, and she has to complete 60 days

Explanation:

Whenever money has to be taken out of the first plan, then it is the requirement of IRA to complete the rollover within 60 days, also the amount to be withheld is 20% this is in the case where the amount is directly paid o the concerned participant. Then the person concerned for such payment has to keep 20%

Here in the instance Total amount = $10,000

20% of such = $2,000

Thus, amount received from the administrator = 80% = $10,000 \times 80% = $8,000

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3 years ago
The difference between accounting profit and economic profit is.
Vadim26 [7]

Answer:

Accounting profit - Your actual profit

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Explanation:

Accounting profit is how much you made (Revenue - Explicit Cost.

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2 years ago
During 2017, Williamson Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2016 and 2015 (William
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Answer:

Explanation:

Comparative income statements for Williamson is presented below:

Particulars                                  2017                2016               2015

Income before income tax       $180,000      $145,000        $170,000

Less:Income tax                        $54,000        $43,500         $51,000

Net income                                $126,000      $101,500        $119,000  

The income tax is computed below:

For 2017

= $180,000 × 30%

= $54,000      

For 2016

= $145,000 × 30%

= $43,500    

For 2015

= $170,000 × 30%

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8 0
3 years ago
Which of the following options is a challenge to the sustainability of strategically implementing an information​ system? A. Man
Ludmilka [50]

Answer:

D. Customers and suppliers willing to learn and evolve with new technology

Explanation:

In an implementation of any new IT system, the resistance to adoption from different stakeholders in the organizations is one of the most difficult challenges that is faced by the project managers. To overcome this resistance, the project manager needs to be accustomed to the basic principles of change management which involves:

1 - Designing incentive systems that forces all the stakeholders to adopt the new system.

2- Manage proper communication strategy that conveys the benefits of adopting the new system and conduct training for all the users.

However, there will still be resistance from certain suppliers and customers  to the adoption of the new system. Which can lead to failed implementation of the system. However by doing the following, any organization can make sure that customers and suppliers quickly become an integral part of the IT system:

1- Take feedback from the customers and suppliers so that not only a more user friendly system can be designed, but also customers will be more invested as they feel they have been part of the decision making process.

2- Invite customers and suppliers to use the company resources to make themselves accustomed to the new system.

3 0
3 years ago
On November 1, 2018, ABC signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six mo
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Answer:

ABC

In recording the payment of the note plus accrued interest at maturity on May 1, 2019, ABC would: __________

Journal Entries:

May 1, 2019:

Debit Interest Payable $1,000

Debit Interest Expense $2,000

Debit Notes Payable $100,000

Credit Cash $103,000

To record the payment of the note plus accrued interest at maturity.

Explanation:

a) Data and Calculations:

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Transaction Analysis on May 1, 2019:

Interest Payable $1,000 Interest Expense $2,000 6% Notes Payable $100,000 Cash $103,000

6 0
2 years ago
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