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3 years ago

What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums?

Business

1 answer:

bagirrra123 [75]3 years ago

7 0

Answer:

The correct answer is (A)

Explanation:

Taxes are used to increase government revenue, and to improve government budget. No tax is applied to the benefits under an individual disability income policy. There are various reasons why no tax is applied, but the major reason is that premiums are not deductible. Overall, governments usually don't apply taxes on individual disability income and generally give subsidies.

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According to the scrum process, once the tasks are known for a given set of requirements, the next step is to assign each task a

garri49 [273]

The answer is points...im 100%, I searched your question on google and found it, sometimes all you have to do is google it and then you dont have to waste points :)

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3 years ago

FedEx Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of all-cargo air

Masteriza [31]

Answer:

1) Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was:

(a) $12,000, 0

(b) $10,000, Loss 2000

2) Using the following structure, indicate the effects (accounts, amounts, and + or -) for the disposal of the truck in each of the three preceding situations.

Assets = Liabilities + Stockholders' Equity

Cash+Net Fixxed Asset=Liabilities+truck sold+sale-net-loss in sale

´=16000+(-28000+12000)=0+(16000-(28000-12000))

3) Prepare the journal entry to record the disposal of the truck for each situation in requirement 1.

Depreciation a 12000

Db Cash___________________ 16000

Depreciation________________ 12000

Fix asset____________________________________ 28000

Depreciation b 10000

Db Cash___________________ 16000

Depreciation_______________ 10000

Fix asset____________________________________ 28000

Loss in disposal of fixed asset_______2000

Depreciation c 15000

Db Cash___________________ 16000

Depreciation________________ 15000

Fix asset____________________________________ 28000

Income in disposal of fixed asset__________________ 3000

Explanation:

Truck sold 16000

Purchased 28000

Depreciation a 12000

Depreciation b 10000

Depreciation c 15000

Cash+Net Fixxed Asset=Liabilities+truck sold+sale-net-loss in sale

´=16000+(-28000+12000)=0+(16000-(28000-12000))

Depreciation a 12000

Db Cash___________________ 16000

Depreciation________________ 12000

Fix asset____________________________________ 28000

Depreciation b 10000

Db Cash___________________ 16000

Depreciation_______________ 10000

Fix asset____________________________________ 28000

Loss in disposal of fixed asset_______2000

Depreciation c 15000

Db Cash___________________ 16000

Depreciation________________ 15000

Fix asset____________________________________ 28000

Income in disposal of fixed asset__________________ 3000

7 0

3 years ago

Gains on the cash sales of property, plant, and equipment:________.

kolezko [41]

Answer:

The answer is D.

Explanation:

Option D is correct because gains on the cash sales of property, plant, and equipment: are recognized in the operating activities under cash flow statement. They are subtracted from net income.

Option A and C are incorrect because gains on PPE are excess of cash proceeds over the FAIR VALUE and not the book value

5 0

3 years ago

What is productivity? What is the effect of an increase in productivity on the supply of a good?

Dimas [21]

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3 years ago

Bradley Snapp has deposited $5,000 in a guaranteed investment account with a promised rate of 6% compounded annually. He plans t

Sever21 [200]

Answer:

$6,312.38

Explanation:

Bradley snapp deposited $5,000 in an investment account

He was given a rate of 6% compounded annually

He plans to leave the money there for 4 years when he will make a down payment on a car

Therefore the down payment which he will be able to make can be calculated as follows

= $5000×(1+0.06)^4

= $5000×1.06^4

= $5000 × 1.26247696

= $6,312.38

Hence the down payment Bradley will be able to make is $6,312.38

8 0

4 years ago