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enyata [817]
3 years ago
5

Pam always drives under the speed limit to her risk and keep insurance costs down. Even so, she got into an accident and filed a

to cover the expenses of repairing her car. One of the costs of doing so was that her insurance would likely increase in the future.
answers:
1. reduce
2. claim
3. premiums
Business
1 answer:
k0ka [10]3 years ago
5 0

Answer:

1. reduce

2. claim

3. premiums

just realized u already knew the answers lol....

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Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a y
denis23 [38]

Answer:

a. $1,700 b. $100 c. $1,700 d. $0

Explanation:

I think the question should be this way

Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a year-end bonus of $1,700. Determine the amount Clyde should include in his gross income this year under the following circumstances: (Leave no answer blank. Enter zero if applicable.)

a. Paylate Corporation wrote the check and put it in his office mail slot on December 30 of this year, but Clyde did not bother to stop by the office to pick it up until after year-end.

Amount to be included:_______

b. Paylate Corporation mistakenly wrote the check for $100. Clyde received the remaining $1600 after year-end.

Amount to be included:______

c. Paylate Corporation mailed the check to Clyde before the end of the year, (and it was delivered before year end). Although Clyde expected the bonus payment, he decided not to collect his mail until after year-end.

Amount to be included:_______

d. Clyde picked up the check in December, but the check could not be cashed immediately because it was postdated January 10.

Amount to be included:_______

Explanation:

a. Clyde is taxed on the $1,700 under the constructive receipt doctrine.

b. Clyde is taxed on the $100 - the remaining $1600 is taxed in the next year.

c. Clyde is taxed on $1,700 unless the mail was not delivered until after year-end. Clyde would need to check his mail on December 31 or he would have the burden of proving he didn't receive the check before year-end if the IRS alleges that the check was delivered before year-end.

d. Clyde is not taxed until next year because the postdated check is a substantial restriction.

6 0
3 years ago
Which of the following describes the purpose and activities of a parallel team? Multiple Choice to provide recommendations and r
Luda [366]

Answer:

Provide recommendations and resolve issues not specifically connected to production

Explanation:

Parallel teams can be regarded as highly task-focused team ,which is been drawn on individuals ranging different functional areas as well as locations. This team are usually generally make completion to their work base on defined schedule. In most cases, parallel teams are not usually disbanded but they could be there so they can handle a subsequent set of tasks. It should be noted that One of the the purpose and activities of a parallel team is to Provide recommendations and resolve issues not specifically connected to production.

7 0
3 years ago
You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to in
trasher [3.6K]

Answer:

You will receive $201.38 more interest if the investment is made with a compound interest rate rather than a simple interest rate.

Explanation:

<u>Simple interest rate</u>

We can calculate how much interests you'd obtain if you deposited the $2,600 in a simple interest rate account.

We start using the following formula for calculating the simple interests:

I=P * r

Where:

<em>I</em> are the interests per year,

<em>P</em> is the amount being invested,

<em>r</em> is the interest rate.

Replacing in the formula with the given values we have:

I=2600*0.05=130

We then proceed to multiply this result by the <em>given number of years</em>, which is 8. We get 130*8=1040.

Finishing with the <em>simple interest rate</em>, if we wanted to know how much is the investment worth at the end of a 8 year period, we must merely add <em>the principal</em> (the $2,600) to the total interests after the end of the period ($1040). So 2600+1040= 3640.

We'll use these results later.

<u>Compound interest rate</u>

The formula for compound interests is the following:

I=P(1+r)^n

Where:

<em>I</em> is the value of the investment after <em>n</em> years,

<em>P</em> is the principal amount being invested,

<em>r</em> is the interest rate,

<em>n</em> are the number of years the investment is compounded.

Replacing in the formula with the given values we have:

I=2600*(1+0.05)^8=3841.38

After the 8 year period, the investor will have $3841.38 in it's compounded interest account.

<u>Comparing these results</u>

<u></u>

We can simply substract the value of both investments at the end of a 8 year period, to determine how much more interest does the compound interest rate account give in relation to a simple interest rate account.

The values we've gotten were:

$3,640 for the simple interest rate account, and

$3,841.38 for the compounded interest rate account.

3841.38-3640=201.38. Therefore the answer is: the account that pays compounded interests will pay $201.38 more to this invididual, compared to an account that pays simple interest.

8 0
3 years ago
joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000
lukranit [14]

Answer:

Joan will pay income tax on the $10,000 she withdrew in 2018.

Explanation:

When withdrawing from traditional retirement account, the following rules apply:

1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.

2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.

3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.

Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.

RMD payments does not apply for Roth IRA.

4 0
3 years ago
Which demographic category reported the least amount of stress during 1983, 2006, and 2009?
Allisa [31]
<span>Retired people reported the least amount of stress during 1983, 2006, and 2009. Retired people obviously do not have to deal with the stress of a career or job, they most likely do not have to raise children and they are free to engage in any pleasurable activity they please.</span>
3 0
3 years ago
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