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SCORPION-xisa [38]
3 years ago
12

Bernie is a former executive who is retired. This year Bernie received $190,000 in pension payments and $15,200 of Social Securi

ty payments. What amount must Bernie include in his gross income
Business
1 answer:
N76 [4]3 years ago
3 0

Answer:

$202,920

Explanation:

Calculation to determine determine What amount must Bernie include in his gross income

Using this formula

Gross income=Pension payments Received+85% of social security benefits

Let plug in the formula

Gross income=$190,000 + ($15,200 * 85%)

Gross income=$190,000+$12,920

Gross income=$202,920

Therefore The amount that Bernie must include in his gross income is $202,920

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Larry is in charge of collecting customer service and satisfaction data for his company. He’s not sure which key groups in the c
Lelechka [254]

Answer:

What are the potential advantages and disadvantages of communicating customer satisfaction results to one group versus another group?

Explanation:

The answer above would be the most appropriate question because Larry does not know whether to share it with the employees, with senior management, or with the whole company.

Larry should try to gauge what kind of effect in the company would produce each one of this three alternatives. For example, sharing the information only with the employees might not seat well with managers, while the sharing the information only with management may be more effective but less transparent.

4 0
3 years ago
Love Company’s accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018
konstantin123 [22]

Answer and Explanation:

  • Closing Balance (Retained earning ) of 31 Dec 2018 is called Opening Balance of 1 Jan 2019 , i.e. $42,100
  • There is no particular information provide for 1 Jan 2018 .So, assume there is Zero balance of retained Earning
  • Calculation of retained earning of 31 Dec 2017

Retained earning                             $42,100

Less: revenue during the year        $19,400

Add: Expenses During the year      $9,800

<u>Add : Dividend                                  $500 </u>

Retained earning on 31 Dec 2017 $33,000

  • Retained earning is a temporary account So, $33,000 is balance of Retained earning At 30 June 2018.
4 0
3 years ago
Make a case that development economics might be merely a combination of all the other subfields of economics, only applied to lo
Alina [70]

Answer:

Case explained below

Explanation:

Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, either through health, education and workplace conditions, whether through public or private channels.

Development economics must encompass the study of institutional, political, and social as well as economic mechanisms for modernizing an economy while eliminating absolute poverty and transforming states of mind as well as physical condition.

7 0
3 years ago
Bonita Corporation had net income of $1550000 and paid dividends to common stockholders of $400000 in 2017. The weighted average
artcher [175]

Answer:

16 times

Explanation:

Calculation to determine what Bonita Corporation's price-earnings ratio is

Price-earnings ratio= ($1550000 -$400000)/387500

Price-earnings ratio=$1,150,000/387500

Price-earnings ratio=2.97

Price-earnings ratio= 48/2.97

Price-earnings ratio=16 times

Therefore Bonita Corporation's price-earnings ratio is 16 times

3 0
3 years ago
Question 1 Tamarisk Corporation issued 1,800 shares of $10 par value common stock upon conversion of 900 shares of $50 par value
Anastasy [175]

Answer:

The journal entries relating to the conversion of preferred stock to common stock are highlighted below:

Dr Preferred stock                                                 $45,000

Dr Paid-in capital in excess of par                        $9,900

Cr Common stock                                                                           $18,000

Cr Paid-in capital in excess(balancing figure)                                $36,900

Explanation:

Find in the attached the detailed computations of the amounts above.

Download xlsx
7 0
3 years ago
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