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S_A_V [24]
3 years ago
14

Vance has a vested account balance in his employer-sponsored qualified profit-sharing plan of $40,000. He has two years of servi

ce with his employer and the plan follows the least generous graduated vesting schedule permitted for a profit-sharing plan under PPA 2006. If Vance has an outstanding loan balance within the prior 12 months of $15,000, what is the maximum loan Vance could take from this qualified plan, assuming the plan permitted loans
Business
1 answer:
Maurinko [17]3 years ago
7 0

Answer: $5,000

Explanation:

Per the requirements of qualified plans that permit loans, the maximum amount that an individual can withdraw is whichever is lesser between $50,000 and 50% of their Vested Account Balance.

Vance in this scenario has a vested account balance of $40,000.

50% of that would be $20,000.

That means that he can be loaned $20,000. However, he already has an outstanding loan balance that must be accounted for of 15,000.

Subtracting those figures we have,

= 20,000 - 15,000

= $5,000

The maximum loan that Vance can take from the qualified plan is $5,000

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Auagaa474 Corporation had sales of $491,300 and average operating assets of $289,000 for the past period. What is the margin tha
astra-53 [7]

Answer:

16%

Explanation:

Calculation for the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%

First step is to calculate the Turnover using this formula

Turnover = Sales ÷ Average operating assets

Let plug in the formula

Turnover= $491,300 ÷$289,000

Turnover=1.7

Now let calculate the margin using this formula

ROI = Margin × Turnover

Let plug in the formula

27.2% = Margin × 1.7

Margin = 27.2% ÷ 1.70

Margin=0.16*100

Margin= 16%

Therefore the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2% will be 16%

8 0
3 years ago
Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or b
loris [4]

Answer:

The correct answer is a) Payor Benefit

Explanation:

When the payor dies or becomes disabled, the insurer will suspend the premiums until the child reaches 19 years old, the child must be under age 18, or up to age 19 and still attending high school. Usually, the payor is a parent (father, mother, brothers).

4 0
2 years ago
Two methods for communicating metrics are dashboards and _______
ch4aika [34]

Answer:

<u>Scorecards.</u>

Explanation:

Two methods described for communicating metrics are dashboards and scorecards. These are not mutually exclusive as these can be related and used simultaneously.

Scorecards compares the strategic goals with the actual performance called results. It is a vertical strategy in which management implements its strategies while moving the symmetrical step with goals.

5 0
3 years ago
Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save mon
Llana [10]

Answer: The income effect

Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.

In the given case, Natalie was price conscious  and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.

Hence from the above we can conclude that the correct option is A.

7 0
3 years ago
Adelberg Company has two products: A and B. The annual production and sales of Product A is 500 units and of Product B is 1,000
Goryan [66]

Answer:

Predetermined manufacturing overhead rate= $171.89 per direct labor hour

Explanation:

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Total direct labor hours= (500*0.4) + (1,000*0.2)= 400 direct labor hours

Predetermined manufacturing overhead rate= 68,756 / 400

Predetermined manufacturing overhead rate= $171.89 per direct labor hour

7 0
2 years ago
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