When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

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

geniusboy [140]

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.

5 0

3 years ago

Read 2 more answers

5. Score Skateboard Company is a small firm that designs and manufactures skateboards for high school and college students who w

Marianna [84]

Answer:

(a) Cost to Score for an employee with $1,100.00 gross pay is $1,175.00.

(b) Cost to Score for an employee with $850.00 gross pay is $925.00.

(c) Total gross semimonthly pay for all six employees is $6,050.

Explanation:

The questions can be answered as follows:

a. Calculate the cost to Score for an employee with $1,100.00 gross pay in the first pay period in January.

This can be calculated as follows:

Cost to Score for an employee with $1,100.00 gross pay = Gross pay + Contribution to retirement fund = $1,100.00 + $75.00 = $1,175.00

b. Calculate the cost to Score for an employee with $850.00 gross pay in the first pay period in January.

This can be calculated as follows:

Cost to Score for an employee with $850.00 gross pay = Gross pay + Contribution to retirement fund = $850.00 + $75.00 = $925.00

c. Calculate the total gross semimonthly pay for all six employees.

This can be calculated as follows:

Cost to Score for 2 employee with $1,100.00 gross pay = $1,175.00 * 2 = $2,350

Cost to Score for 4 employee with $850.00 gross pay = $925.00 * 4 = $3,700

Total gross semimonthly pay for all six employees = Cost to Score for 2 employee with $1,100.00 gross pay + Cost to Score for 4 employee with $850.00 gross pay = $2,350 + $3,700 = $6,050

8 0

2 years ago

Swiss Group reports net income of $40,000 for 2019. At the beginning of 2019, Swiss Group had $200,000 in assets. By the end of

Sati [7]

Answer:

For the tear 2019, net income is 40,000

Beginning of the year 2019, asset of the S are 200,000

Ending of the year 2019, asset of the S are 300,000

Average asset for 2019= Beginning assets + Closing assets / 2

Average asset for 2019= 200,000 + 300,000 / 2

Average asset for 2019= $250,000

Return on assets = Net income / Average assets * 100%

= 40,000 / 250,000 * 100

=16%

Thus, the return on assets is 16%

Conclusion: If the average return of assets of the competitors are 11%, It means S uses the assets efficient manner, so performance of the S is very good ad return of the S is higher than competitors on asset

8 0

3 years ago

If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then

vaieri [72.5K]

Option C

If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then economics would say that expectation formation is: adaptive.

<u>Explanation:</u>

Adaptive expectations hypothesis implies that investors will modify their expectations of future behavior based on current prior behavior. In finance, this impact can effect people to produce investment decisions based on the way of contemporary historical data, such as stock price activity or inflation rates, and modify the data to prophesy future exercise or rates.

If the market has been trending downward, people will possible expect it to proceed to trend that way because that is what it has been acting in the recent past.

7 0

3 years ago

3.

erastova [34]

Answer:A

Explanation:

3 0

3 years ago