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2 years ago

Which statement describes the effect of taxes on a traditional 401(k) retirement account?

Business

1 answer:

worty [1.4K]2 years ago

3 0

Answer:

A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.

Explanation:

A 401 k is a qualified tax-advantaged saving retirement plan. Usually, 401K plans are employer-sponsored. Employee contributions to the 401 k plans are deducted from the payroll before taxes are calculated. It means the employee contribution is not taxed at the time it's withheld by the employer.

The amounts saved are invested in market securities such as shares and bonds. The tax due from earning from the investment is deferred to the time of withdrawal. The employee is not required to pay taxes on contributions and investments earning every financial year.

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Carla Vista Company has the following information available for September 2020.

dmitriy555 [2]

Answer:

Carla Vista Company has the following information available for September 2020.

Unit selling price of video game consoles $410

Unit variable costs $328

Total fixed costs $36,900

Units sold 600

Compute the unit contribution margin.

Unit contribution margin enter the unit contribution margin

Prepare a CVP income statement that shows both total and per unit amounts.

Compute Carla Vistaâ€™ break-even point in units.

Break-even point in units enter Break-even point in units units

Prepare a CVP income statement for the break-even point that shows both total and per unit amounts.

7 0

3 years ago

A client is admitted to the hospital with weakness in the right extremities, and speech that is slightly slurred. A diagnosis of

arlik [135]

Answer:

Evaluate Motor Status

Explanation:

In the first 24 hours the response of his body will be checked and that is called motor status.

This is through nervous system response to the connected medical devices.

As there is brain attack and our brain is solely responsible for any action in the body, it will be important to know whether it is working and responding properly or not.

This will ensure that the brain is not critically damaged.

4 0

3 years ago

Sheffield Corp. makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Bud

FinnZ [79.3K]

Answer:

How much is the total budgeted variable selling and administrative expenses for October?

$17,150

Explanation:

Variable Cost Fixed Cost Total costs

Per Unit for 7,000 units

Sales commissions $0.60 $7,000 $11,200

Shipping $1.20 $8,400

Advertising $0.30 $2,100

Executive salaries $34,000 $34,000

Depreciation $8,000 $8,000

Other $0.35 $28,000 $30,450

TOTAL $2.45 $77,000 $94,150

How much is the total budgeted variable selling and administrative expenses for October?

total variable costs per unit = $2.45 x 7,000 units = $17,150

6 0

3 years ago

Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation for the period showe

emmasim [6.3K]

Answer: The correct answer is "(A) Debit Accounts Receivable and credit Cash for $560".

Explanation: The non-existent 560 must be adjusted in the cash account, and the 560 receivable must be added to the third party that issued the check in the "accounts receivable" account.

The entry would be:

--------------------------------- . ------------------------------------------

Accounts Receivable 560

Cash 560

--------------------------------- . --------------------------------------------

6 0

3 years ago

You can have your cake or chose to eat it

Oksi-84 [34.3K]

Answer:

Exclude people from your property

4 0

3 years ago

Read 2 more answers