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DedPeter [7]
4 years ago
13

Being undecided on what to do with $100,000 just received on F's policy, decides to leave the proceeds on deposit with the insur

er at interest. The rate being paid is 5%. In one year, what amount will be taxable?
Business
1 answer:
Rom4ik [11]4 years ago
8 0

Answer:

$5,000

Explanation:

If these are death benefit funds then it must be noted that tax is not applicable on the lump sum amount of death benefit but the interests paid on the amount left on deposit with the insurer is taxable. In simple terms, if dividends are left on deposit to earn interest then this interest is taxable!

Interest rate= 5%

Amount= $100,000

Tax= 0.05x100,000

Tax= $5,000

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Environmental forces are referred to as or known as those forces which tends to involve shared beliefs and attitudes of population. Most of the marketing managers have found their task and job increasingly hard because of the fact that lifestyles, consumer values, and also beliefs are changing at a much more rapid rate than they did used to.

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On october 4, 2017, terry corporation had credit sales transactions of $2,500 from merchandising having a cost of $1,900. the en
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I believe that this problem has the following choices:

 

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The correct answer from the choices is:

<span>> a credit of $2,500 to Sales
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8 0
4 years ago
Which following statement about FAFSA process are TRUE?
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3 0
3 years ago
On January 1, 20X7, Server Company purchased a machine with an expected economic life of five years. On January 1, 20X9, Server
djverab [1.8K]

Based on the information given for Server Company, the machine will be valued a<u>t $42,000 </u>and the machinery account will be credited.

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The value of the machine was therefore:

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By changing a standard from "be nice to customers" to "greet every customer, and if possible by name," a services marketing mana
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