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Tom [10]
3 years ago
15

On March 19, 2015, Karen dies and leaves Larry an insurance policy with a face value of $100,000. Karen is Larry's sister, and L

arry elects to take the proceeds over 10 years ($10,000 plus interest each year). This year Larry receives $13,250 from the insurance company. How much income must Larry report for the current year?
Business
1 answer:
Paladinen [302]3 years ago
8 0

Answer:

$3,250

Explanation:

Calculation to determine How much income must Larry report for the current year

Current year income=$13,250-$10,000

Current year income=$3,250

Therefore How much income must Larry report for the current year is $3,250

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Social mobility in the u.s. does not depend on where one starts in the class system anthropolgy
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3 0
3 years ago
How to access your federal reserve account?
asambeis [7]
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4 0
3 years ago
Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 20
Andrew [12]

Answer:

b. $102

Explanation:

Data provided as per the question below:-

Cost of basket in 2014 = $51

Cost of the basket in base year = $50

The calculation of the value of the CPI is shown below:-

Value of the CPI = (Cost of a basket in 2014 ÷ Cost of a basket in the base year) × 100

($51 ÷ $50) × 100

= $102

Therefore for computing the value of CPI we simply applied the above formula.

7 0
3 years ago
Ramos Co. provides the following sales forecast and production budget for the next four months: April May June July Sales (units
Ronch [10]

Answer:

1) Direct Labor Budget               April           May         June         July

production                                   450           580          550          550

* hours per unit                          0.60           0.60         0.60          0.60

= hours worked                          270           348            330             330

 * rate                                          $17            $17             $17              $17

Direct Labor Cost                   $4,590       $5,916         $5,610       $5,610

2) Factory overhead budget

Variable overhead                  $5,670        $7,308         $6,930

Fixed overhead                      $8,100         $8,100          $8,100

Total overhead budget         $13,770        $15,408        $15,030

Explanation:

Variable overhead = ( direct labor hour * $21)

April = ( 270 * $21) = 5,670

May = ( 348 * $21) = 7,308

June = ( 330 *$21) = 6,930

7 0
3 years ago
Read 2 more answers
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