Answer:
$700,000
Explanation:
Although Theresa claimed $200,000 for damages, $300,000 for emotional harms and $500,000 in punitive damages, the final settlement was made at $700,000.
Hence, the gross income must include the amount which was actually used and received in settlement and this is $ 700,000.
Hope this Clear things up
Good Luck.
<u>Answer:</u>$500
<u>Explanation:</u>
It is mandatory to deduct the social security, medicare and federal income taxes from the individuals paycheck. At first the federal income tax has to be deducted from the income. Secondly the social security has to be deducted, thirdly the state taxes have to be deducted and finally the medicare will be deducted.
Calculation of Net pay
Salary of Juanita = $12 per hr x 50hrs
=$600
Federal income tax 600 x 10%
=$60
Social security 540 x 6.2%
=$33.48
Medicare= 506.52 x 1.45%
=$7.34
So the net pay= Gross pay- deductions
=600-60-33.48-7.34
=499.17
Which is approximately $500 is the net pay.
Answer: substantial
Explanation:
From the question, we are informed that Greta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power.
The above analysis shows that Greta is concerned with whether the substantial segment. A segment is said to be substantial when the said segment is big and therefore should be worth targeting and the members of this particular segment should have buying power.
Answer:
b. Useful to capital providers.
Explanation:
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
The objective of financial reporting include all of the following to provide information that:
1. Is useful to those making investment decisions. This information would help creditors to determine whether they should lend to a client or not; or assist investors in deciding whether they should invest in a business or not.
2. Is useful to those lending out money to business entities. When investors and creditors are well furnished with financial information about an organization, they would be able to assess the amounts of cash, timing, and uncertainty of cash flows from dividends or interest.
3. Is useful to creditors in making decisions about providing resources to business entities.
<em>Hence, the primary objective of financial reporting is to provide information useful to capital providers.</em>
Additionally, financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining financial accounting and reporting standards for general guidance of individuals or capital providers such as investors, issuers and auditors.
Answer:
D. Net income of $150,000
Explanation:
$705,000 + X - $30,000 = $825,000
X = $150,000
