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fiasKO [112]
2 years ago
5

Derrick was in an automobile accident while he was going to work. The doctor advised him to stay home for eight months due to hi

s physical injuries. The resulting lawsuit was settled and Derrick received these amounts:
Compensatory damages for physical injury $80,000
Punitive damages 95,000
Lost wages 100,000
1. How much of the settlement must Derrick include in ordinary income on his tax return?
Business
1 answer:
Dima020 [189]2 years ago
3 0

Answer:

$95,000

Explanation:

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When a periodic inventory system is used a.both revenue and cost of goods sold are recorded each time a sale is made. b.only the
Hoochie [10]

Answer:

D) only revenue is recorded each time a sale is made.

Explanation:

When a company uses a periodic inventory system, the cost of goods sold is calculated only after the physical inventory count is completed. This physical count is done periodically and may happen once every few months or even once a year.

The periodic system is obsolete nowadays and cheaper technological solutions make it easier for companies to use a perpetual inventory system which is much better in every possible way.

8 0
3 years ago
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout th
Evgen [1.6K]

Answer:

51,000

Explanation:

Beginning WIP 0

Started into Production (60,000+15,000)

Total Units 75,000

Transferred Out (60,000 – 15,000)

= 45,000 = 45,000 equivalent conversion units

Ending WIP 15,000

= 15,000 * .4 = 6,000

45,000+6000 =51,000

Total Units 75,000 = 51,000 conversion total equivalent units

Therefore the equivalent units of production for conversion costs for the month of July is 51,000

7 0
3 years ago
Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair val
12345 [234]

Answer: discount on bonds payable

Explanation:

Based on the information given, since the sum of the fair value of the warrants and the face amount of the bonds exceeds the cash proceeds, then the excess will be reported as the discount on bonds payable.

The discount on the bonds payable occurs in a scenario whereby the bonds are issued for a lesser amount than their face or their maturity amount.

The reason for this is when the bonds have a stated interest rate that is smaller than market interest rate for similar bonds.

6 0
2 years ago
What is the correct definition of harassment?
Ira Lisetskai [31]

Answer:

D

Explanation:

In my opinion, option d includes all major points of harassment

5 0
2 years ago
Read 2 more answers
Ramon has been appointed the manager of a retail store. He wants to bring the store into the modern era and direct its future by
nika2105 [10]

Answer:

C.  install mannequin robots to display clothes

Explanation:

Among the offered answers, a truly avantgarde, modern approach is <u>to implement robot mannequins in the store.</u> With this tactic, customers would be incentivized to approach this innovative customer journey. Through pioneering this technique, Ramon's company would get a competitive advantage through visual merchandising.

6 0
3 years ago
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