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alexandr1967 [171]
3 years ago
12

An employer pays $90 of a $100 group disability premium, and the employee pays the other $10. The disability benefit under the p

lan is $1,000/month. If the employee becomes disabled and receives the full benefit, how much, if any, of the monthly benefit would be taxable income?
Business
2 answers:
vovangra [49]3 years ago
8 0

Answer:

Explanation:

Taxable income is defined as the income used to calculate how much tax an individual or a company owes to the government in a given tax year. It is described as adjusted gross income (that is, total income, known as “gross income,” minus any deductions or exemptions allowed in that tax year).

Since the employer pays $90 per $100 of the disability premium.

Disability benefits = $1000 per month

Taxable income = $90/$100 × $1000

= $900

geniusboy [140]3 years ago
5 0

Answer:

the monthly benefit taxable income would be $900

Explanation:

For a Plan of $1,000/month if the employer pays $90 and the employee pays the other $10 of a $100 group disability premium.

after paying the total amount of  %100 according to the plan if the employee gets disabled then he will get 90% of the total amount which is taxable income.

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Answer:

Option C is correct.

Explanation:

The statement of cash flow presents us the information about the cash, where the cash was invested including how much cash we have earned by investing in projects, how much cash the operations has created and how much cash has been created from the financing activities. This statement tells us about the origin of the cash and where the company is spending it.

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4 years ago
Suppose an economist argues that it would be fairer if everyone in society had to pay the same portion of their income in taxes
nata0808 [166]

Answer:

Proportional Tax

Explanation:

A proportional tax imposes the same flat rate (in %) on income as payable tax.

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3 years ago
Exercise 10-2 Recording bond issuance at par, interest payments, and bond maturity LO P1 Brussels Enterprises issues bonds at pa
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Answer:

June 30 Bond Interest Expense Dr $81000

Cash Cr $81000

(6%/2*$2,700,000)

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Cash Cr $2,700,000

Explanation:

Record the entry for the first semiannual interest payment and the second semiannual interest payment.

June 30 Bond Interest Expense Dr $81000

Cash Cr $81000

(6%/2*$2,700,000)

December 31 Bond Interest Expense Dr $81000

Cash Cr $81000

Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded).

Bonds Payable Dr $2,700,000

Cash Cr $2,700,000

3 0
3 years ago
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Answer:

B is better than A

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Net income for each alternative = Revenues – Costs

Since the net income is positive, B is better than A.

Please check attachment for for actual tabular calculations

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