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mariarad [96]
3 years ago
6

Hope receives an $18,500 scholarship from State University. The university specifies books, supplies, and equipment, while $10,0

00 is for room and board. In addition, Hope w campus library and earns $5,000. What is Hope's gross income?
Business
1 answer:
irga5000 [103]3 years ago
5 0

Answer:

Hope's gross income = $5000 + $10,000 = $15,000

Explanation:

First, we need to highlight what are qualified education expenses especially for tax-free fellowships and scholarships.

Specifically, the qualified expenses that will be tax exempt will be

The tuition and fees which are requirements to go to an eligible school or institution

Other course related expenses required for courses in such institutions such as books equipment and supplies are also tax exempt.

<u>However, room and board, research travel and other expenses that are not required for courses in the institution are not tax free</u>

Based on this analysis:

Hope's initial earning on campus = $5000

However, $10,000 spent on room and board are not required for enrolment in the school, hence, it will be added to the earnings to make the gross income

Hope's gross income = $5000 + $10,000 = $15,000

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otez555 [7]

Answer: $40,710

Explanation:

John's annual compensation includes his actual annual salary as well as the various payments that Heinlein Hillclimbers makes on his behalf.

His total annual compensation is:

= Annual salary + Employer's 401 contribution + Health insurance + Life insurance + AD&D + Profit sharing bonus + Tuition reimbursement + employer only taxes and insurance

= 26,500 + (150 /2 * 12 months) + (150 * 12 months) + (30 * 12 months ) + (50 * 12 months ) + (2% * 26,500) + 5,250 + (18% * 26,500)

= 26,500 + 900 + 1,800 + 360 + 600 + 530 + 5,250 + 4,770

= $40,710

4 0
2 years ago
Capital One is advertising a 60-month, 5.99% APR motorcycle loan. If you need to borrow$8000 to purchase your dream Harley David
spayn [35]

Answer:

R=154.66941

Explanation:

the payment will be made monthly so we need to convert the 5.99% APR in to moths

Monthly Interest =5.99%/12 = 0.499%

Total payments = 60

Amount Borrowed = $8000

Rental = ?

Using the annuity formula = P=R*(1-(1+i )^-n ) / i

So we have = 8000=R*(1-(1+0.499%)^-60) / 0.499%

8000=R* (1-0.74181) / 0.499%

8000=R* 0.25818/ 0.499%

8000=R*51.72321

R=8000/51.72321

R=154.66941

6 0
3 years ago
Sand Point Corporation's common stock recently paid a dividend of $1.50. Investors require a 16% rate of return on this stock. S
Nikolay [14]

Answer: $42

Explanation:

Value can be found using the Gordon Growth model;

= (Current dividend * (1 + Growth rate)) / ( required return - growth rate)

Growth rate =  Retention ratio * Return on equity

= 40% * 30%

= 12%

Value = (1.50 * 1.12)/ ( 16% - 12%)

= $42

6 0
3 years ago
A company scientist at a biotechnology company decides to work on his own research project, hoping to eventually start his own f
bogdanovich [222]

Answer:

C. Moral hazard.

Explanation:

Moral hazard is the risk that a party has not gone into an agreement in compliance with common decency or has given deceiving data about its assets, liabilities, or credit capacity. Moral hazards can be available whenever two parties come into concurrence with each other. Each party in an agreement may have the chance to pick up from acting in opposition to the standards spread out by the agreement.

3 0
3 years ago
EB10.
mafiozo [28]

Answer:

The question is incomplete; the complete question is given below.

Cost Pool Cost Driver Estimated Cost Driver Estimated Overheads

Material     Material requisition     250,000.00         $105,000.00

Machining Machine hours         360, 750         $432,900.00

Inspection Number of inspections  25,000.00          $15,750.00

Answer:

Overhead rate per activity :Material- $0.42,  Machining-$1.2,  Inspection-$6.3

Explanation:

Activity-based costing aims to achieve better product pricing than traditional absorption cost by charging overheads to the product cost more accurately.

Activity-based costing uses cost drivers to charge overheads to cost unit as against the use of of volume-based bases like labour hours, machine hours. Overheads are first traced to the activities responsible for them- the sum is called cost pool. Cost pools are then absorbed into the cost unit using cost driver rates

Cost pool- the sum of the total overheads associated with an activity. E.g <em>$105,000 material requisition overheads.</em>

Cost driver: A factor that causes a change in the cost pool. E.g

<em>250,000 material requisitions.</em>

Cost per driver: A specific overhead absorption rate computed for an activity. It is calculated as follows:

Cost per driver = Estimated activity overheads/Total number of cost drivers

The predetermined overhead rate for each activity is calculated as follow;

Material requisition= $105,000/250,000 requisitions= $0.42 per requisition

Machining = $432,900/360,750 machine hours = $1.2 per machine hour

Inspection= $15,750/ 25,000 inspections = $6.3 per inspection

8 0
3 years ago
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