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Oliga [24]
3 years ago
11

If money is paid when a change of ownership in a life insurance policy takes place, this is generally known as a ____________.a.

Transfer of valueb. Transfer of Moneyc. Transfer of worthd. None of these
Business
1 answer:
valina [46]3 years ago
6 0

Answer:

The correct answer is A

Explanation:

Transfer of value is the term which is defined or described as the rule that stipulate when any interest in the policy or the life insurance policy is transferred for something of value such as property and money. A portion of the death advantage is subject to be taxed on the ordinary income.

So, when the money or amount of money is paid if the change of ownership in the life insurance policy happen or occur, then it is usually known as the transfer of the value.

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The Pioneer Company has provided the following account balances: Cash $38,000; Short-term investments $4,000; Accounts receivabl
mart [117]

Answer:

$48000

Explanation:

Given: Accounts payable $30,000;

         Accrued liabilities payable $4,000;

         Short-term notes payable $14,000.

Current Liability: It is a financial obligation of the company that need to be paid in a short period of time, within one year or within normal operating cycle.

Now, computing current liabilities from the given information.

Current liability= Account\ payable+ Accrued\ liabilities\ payable+ Short-term\ notes\ payable

⇒ Current liability=  \$ 30000+\$4000+\$ 14000

∴ Current liability=  $48000

Hence, Pioneer's total current liabilities is $48000.

6 0
3 years ago
Wade Company estimates that it will produce 6,000 units of product IOA during the current month. Budgeted variable manufacturing
Elodia [21]

Explanation:

                             STATIC  BUDGET          ACTUAL VARIANCE

Units                           6000                    6500  

variable costs    

Direct material          30000                      27500 2500 favorable

Direct labor                   66000                      65000 1000 favorable

Manufacturing overhead 102000              110000 8000 Unfavorable

Fixed costs    

Depreciation                    7500                       7500          None

supervision                    3500                        3700 200 Unfavorable

Total expenses            209000               213700 4700 unfavorable

8 0
2 years ago
Concord Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sale
Nitella [24]

Answer:

the numbers are missing, so I looked for a similar question:

Purchases Sales Units Unit Cost Units Selling Price/Unit

3/1 Beginning inventory 100 $40

3/3 Purchase 60 $50

3/4 Sales 60 $80

3/10 Purchase 200 $55

3/16 Sales 70 $90

3/19 Sales 90 $90

3/25 Sales 60 $90

3/30 Purchase 40 $60

the requirements are:

calculate COGS and ending inventory under FIFO, LIFO and weighted average.

since this company uses the periodic inventory level we must first determine the total cost of goods available for sale:

3/1 Beginning inventory 100 $40

3/3 Purchase 60 $50

3/10 Purchase 200 $55

3/30 Purchase 40 $60

total goods available for sale = 400 units, at a total cost of $20,400

total units sold = 60 + 70 + 90 + 60 = 280 units

ending inventory  = 120 units

under FIFO:

ending inventory = (40 x $60) + (80 x $55) = $6,800

COGS = $20,400 - $6,800 = $13,600

under LIFO:

ending inventory = (100 x $40) + (20 x $50) = $5,000

COGS = $20,400 - $5,000 = $15,400

under weighted average:

ending inventory = ($20,400 / 400) x 120 = $6,120

COGS = $20,400 - $6,120 = $14,280

3 0
3 years ago
Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000 in W–2 wag
natka813 [3]

Answer:

Qualified Business Income (QBI) Deduction:

With respect to the applicable provisions, the following are the provisions relating to QBI deduction:

(a) For Joint filers, if the taxable income is less than $315,000, the QBI deduction is limited to 20% of the qualified business income.

(b) The qualified business income includes the interest income not allocable to the business.

In the present case, the interest amount of $20,000 will not be considered for the calculation of QBI deduction (refer point (b) above).

Therefore, the total taxable income of S and her spouse will be $274,400 ($200,000 + $74,400) which was below the threshold limit of $315,000. Hence, they can claim the QBI deduction of 20% on the qualified business income of $200,000. The QBI deduction for 2018 is calculated as under:

QBI Deduction for 2018 = QBI x 20%

= $200,000 x 20%

= $40,000

Therefore, the QBI deduction for 2018 is $40,000.

Note: If the total taxable income exceeds the threshold limit of $315,000 for QBI deduction, the value of W-2 wages and qualified property would have been considered.

5 0
3 years ago
True or false? under medicare part a, a beneficiary can have an unlimited number of benefit periods.
Arlecino [84]
True depending on what you pay. Depending on what is payed (it is all tabled) you may have more or less days on your benefit periods up until no limit. In the end, it is a health insurance, and as everything that's payed, it has limits or not depending on what is payed. 
6 0
3 years ago
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