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dexar [7]
3 years ago
15

How much of the following is taxable? a. Cheline, an actress, received a $6,400 gift bag for attending the Academy Awards Ceremo

ny during 2018.b. Jon received a gold watch worth $660 for 25 year of service to his accounting firm (not a qualified award).c. Kerry won $1,000,000 in her state lottery.d. Deborah is a professor who received $30,000 as an award for her scientific research from the university that employs her.
Business
1 answer:
Bingel [31]3 years ago
6 0

Answer:

A. $6,400

B. $240

C. $1,000,000

D. $30,000

Explanation:

Requirement A, C, and D:

Prizes and awards are taxable income for a taxpayer. Any awards or prizes won from the lottery or television should be added to the income. Therefore, the Winning lottery is a taxable income for Kerry, $1,000,000. Again, Receiving the award for scientific research is also taxable income for Deborah, $30,000.

The winning award for accomplishments is also a taxable income. So, receiving a $6,400 worth gift bag is a taxable income for Cheline.

Requirement B:

There is an exception if the award is for tangible property and a long-years of accomplishment. At that time, the taxpayers will be excluded from some part of the necessary amounts to be paid as tax. If it is not a qualified award, the exclusion will be $400. If it is qualified, the tax exclusion is 1,600. Since Jon received a gold watch for 25 years of service and the gift is not qualified, he has to pay tax for $(660 - 400) = $240.

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kkurt [141]

Answer and Explanation:

1. The maximum possible subscription price is $60

The maximum price is anything greater than $0

2.Number of new shares

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=$5

3. Excess right 58.33

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Value of excess 1.67

($60-58.33)

4.Portfolio value before right offering

2,000×60

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Portfolio value after right offering 120,000

(2000×58.33 +2000×1.67 )

8 0
3 years ago
Sarah can study 20 pages per night. each page has three homework problems. if she studies for 3 nights how many homework problem
ss7ja [257]
20 pages in one night times 3 nights = 60. 60 pages times 3 problems per page is 180 problems.

20*3=60
60*3=180
7 0
3 years ago
A lawn service company has the following production possibilities. With​ one, two,​ three, and four​ workers, the company can mo
Marianna [84]

Answer: Third

Explanation:

Diminishing returns to labor refers to the phenomenon where every additional worker leads to an increase in production at a decreasing rate.

Using the scenario described, when there was only one employee the company could mow 4 lawns a day. They added a 2nd worker and that figure went to 9 lawns a day which is an increase of FIVE.

When they added a 3rd worker, the figure again went up but only to 12 which is an increase of THREE only as opposed to the last increase of FIVE.

After the third worker therefore, there was an increase but at a smaller rate.

7 0
3 years ago
Suppose that in some state the civilian, non-institutionalized adult population is 4 million, the labor force participation rate
shepuryov [24]

Answer:

8.33%

Explanation:

The computation of the unemployment rate is shown below;

Before computing it, first we have to determine the labor force which is

As we know that

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Now unemployment rate is

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= 250,000 ÷ 3,000,000

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3 years ago
If the government removes a binding price floor from a market, then the price received by sellers will
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