Answer:
Multiple Employer Welfare Association
Explanation:
A multiple employer welfare association (MEWA) is formed by at least 10 employers who want to lower the tax implications of providing life insurance benefits to their employees.
The whole group combines their contributions into a self-contributing health insurance plan that benefits their employees.
MEWAs are usually formed by small companies, since large corporations with tens of thousands of employees can do the same but on their own without needing other companies.
Answer: $1,444,000
Explanation:
The Cost of Goods sold for a manufacturing company includes the Manufacturing overhead. If the overhead was overapplied, the COGS is inflated and needs a downward adjustment.
COGS after overapplied overhead is disposed of = COGS before disposal - overapplied amount
= 1,460,000 - 16,000
= $1,444,000
Answer:
Zumba classes sell all 20 participant spots at a price of $4.50 each. When the instructor raised the prices to $5.50, 10 people attended the class. From the midpoint method, the price elasticity of demand for Zumba is:
0.286
Explanation:
20 at $4.50= $90
10 at $5.50= $55
price elasticity= change in quantity demand/ change in price
20-10= 10 change in quantity demand
$90-$55= $35
10/35=0.286
Answer:
The amount of interest expense in 2013 and 2014 are $3,750 and $3,625 respectively.
Explanation:
Interest expense would be in
2013;
= Principal × rate of interest × number of days ÷ ( total number of days in a year)
= $250,000 × 9% × (60 ÷ 360)
= $3,750
( 29 days in November + 31 days in December
In 2014,
= Principal × interest rates × number of days ÷ ( number of days in a year)
= $250,000 × 9% × ( 58 ÷ 360)
= $3,625
(30 days in January + 28 days in February)
Answer:Therefore amount of deductions allowable in year of installation = $7,808
Explanation:
Deductions entitled in the year of installation of pool =Cost of installing pool -insurance cost - the increase in property value
=$19,520- $4,880 -$6,832
=$7,808
Therefore amount of deductions allowable = $7,808