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Masteriza [31]
3 years ago
8

Pam recently was sickened by eating spoiled peanut butter. she successfully sued the manufacturer for her medical bills ($3,700)

, her emotional distress ($6,000 − she now fears peanut butter), and punitive damages ($44,000). what amount must pam include in her gross income?
Business
1 answer:
adell [148]3 years ago
7 0

Answer: $44,000<span>

<span>The tax laws state that any payments (except PUNITIVE DAMAGES) on the account of a physical injury or physical sickness are non-taxable. Damages that taxpayers can receive relating to emotional distress are also non-taxable. Punitive damages however are fully taxable, because they are intended to penalize the harm-doer rather than to compensate the taxpayer for injuries.</span></span>

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The value chain describes the costs associated with making a product. What​ box(es) are expensed immediately when incurred on th
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Answer:

ALL EXCEPT PRODUCTION

Explanation:

The costs of the value chain includes: Research and Development, Design Costs, Production, Marketing, Distribution and Customer Service.

The costs of the value chain are expensed in the current year income statement because they majorly (except production costs) fall under the category called periodic costs.

Periodic costs are costs that are more aligned with the passage of time than directly traceable to units of a product or event. Another major difference between product costs and period costs is that product costs can only be incurred when the products have been acquired or manufactured, while periodic costs will apply when the goods have not been acquired or produced yet, or as aforementioned, are associated with the passage of time.

In the light of above definition, all costs within the value chain are expensed as periodic costs with the exception of production costs which obviously are product costs.

8 0
2 years ago
When Paul listened to the presidential candidate debates, he heard one candidate proposing to increase taxes and the other candi
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Answer:

as taxes increase, there is a decrease in supply

Explanation:

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2 years ago
To differentiate its candy from that produced by other candy manufacturers, the manufacturer of Green &amp; Black brand confecti
mestny [16]

Answer:

<em>B. Unique selling proposition</em>

Explanation:

The scenario which is been presented in the question is the example of "Unique selling proposition"

Because in "Unique selling proposition", the companies use a unique method to attract and convince the customers to buy and use the product of the particular company.

So, we can see that <em>manufacturer of Green & Black brand confections uses</em> unique method to attract and convince the customers to buy and use its product, the method is known as <em>"Unique selling proposition".</em>

8 0
2 years ago
A company purchased $3,600 worth of merchandise. transportation costs were an additional $315. the company later returned $250 w
Anestetic [448]

Answer: $3,564.50

Explanation:

The total amount that the company will pay for the merchandise is the net cost of the merchandise, less a 3% cash discount, plus the transportation costs. The cash discount normally only applies to the merchandise and not the transportation costs.

The cost of the merchandise is $3,600 less the $250 refund, which equals $3,350. With a 3% cash discount they will pay 97% of this amount, which is $3,249.50. After adding the additional transportation charge of $315, the total amount to be paid is $3,564.50.

6 0
3 years ago
Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg
iVinArrow [24]

Answer:

Option D. $10,000 is the correct answer.

Explanation:

Journal Entry for pension expenses:

Pension Expense                                  $10,000

     Cash                                                 $10,000

(To record pension expenses)

Pension expenses for the year ended is comprised of the following components of pension cost.

Service Cost                                           $14,000

Interest cost                                            $6,000

Expected return on plan assets            $10,000

                                                            __________

Pension expenses                                  $10,000

3 0
3 years ago
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