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abruzzese [7]
2 years ago
9

Four years ago, Lyle Mercer was injured in a railroad accident and sued the railroad for damages. The jury required the railroad

to pay $600,000 compensation for his physical injuries, $150,000 for lost wages during his long recuperation, and $1,000,000 punitive damages. How much of the $1,750,000 settlement is included in Lyle's gross income?
Business
1 answer:
ziro4ka [17]2 years ago
8 0

Answer and Explanation:

The amount that settled is as follows

The total amount is $1,750,000

Out of which

The amount of

= $1,000,000 + $150,000

= $1,150,000

This would be involved in the AGL of L and the $600,000 would not be involved in the gross income as the taxpayer got injured by the other party act

So, the same is to be considered

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We assume that the representative consumer's preferences exhibit the properties that
LenaWriter [7]

Answer:

c. consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundles.

Explanation:

  • A consumer's preference can determine the consumer utility properties between the different periods and can be measured by the tastes and preference by comparing the opportunity costs of that one item when every you buy an item.
  • The consumption and the leisure are both the normal goods hat the consumer likes to have diversity in his consumption patterns and have a utility related to them.
7 0
2 years ago
Janie has a joint account with her mother with a balance of $562,000. Based on $250,000 of Federal Deposit Insurance Corporation
vaieri [72.5K]

Answer:

$31,000

Explanation:

Given:

Janie holds joint account with her mother that has a balance of $562,000. They are covered up to $250,000 each under Federal Deposit Insurance Corporation.

It is assumed by FDIC that all co-owners' shares are equal.

So, Janie's share in the balance = 562,000 ÷ 2

                                                       = $281,000

Amount insured = $250,000

Uninsured amount = 281,000 - 250,000

                               = $31,000

Therefore, Janie's savings worth $31,000 will not be covered by deposit insurance.

4 0
3 years ago
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead cos
Tju [1.3M]

Answer:

\left[\begin{array}{cccc}-&Actual&Variance&Flexible Budget\\Indirect labor&10,760&240F&11,000\\Indirect Materials&7,520&180F&7,700\\Utilities&3,950&450F&4,400\\Supervision&4,200&0&4,200\\dep&1,800&0&1,800\\Prop.taxes&600&0&600\\\end{array}\right]

Explanation:

Idirect labor 1

Indirect materials 0.7

Utilities 0.4

fixed per month

supervision 4,200

Dep 1,800

property taxes 600

Units produced

We multiply the variable components rate by the units produced. Then we calcualte the variances

8 0
3 years ago
FREEEEEEEEEEEEEE brainliest!!
Ksju [112]

Answer:

how does brainliest work?

4 0
2 years ago
Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) .
sammy [17]

Answer:

C. $385.7m

Explanation:

Enterprise value = Market value of equity + Market value of all types of debt - Cash in the balance sheet

Market value of equity = Current share price × number of shares outstanding

= $16 × 10.2 million shares

= $163,200,000

Market value of all types of shares = Market value of long term debt + Market value of current portion of long term debt + notes payable / short term debt

We assume that market value of debts = Book value of debts

Therefore,

Market value of debt = $227m + $40.7m + $10.9m

= $278.6 m

Cash in the balance sheet = $56.10 m

Therefore;

Enterprise value = $163.20m + $278.60 - $56.1

=$385.7 m

7 0
3 years ago
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