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Sedbober [7]
3 years ago
9

On April 30, Janet, age 42, received a distribution from her qualified plan of $150,000. She had an adjusted basis in the plan o

f $500,000 and the fair market value of the account as of April 30 was $625,000. Calculate the taxable amount of the distribution and any applicable penalty.
Business
1 answer:
Ahat [919]3 years ago
6 0

Answer:

The taxable amount of the distribution is $120000  and The applicable penalty is $3,000.

Explanation:

The distribution to Janet does not qualify for the exception to the 10% penalty.

Distribution return of adjusted Tax Basis

= (Adjusted Basis/FMV)*Gross Distribution

= (500000/625000)*150000

= $120000

amount subject to income tax  = $150,000 - $120,000

                                                  = $30,000

Appicable tax penalty = $30,000*10%

                                     = $3,000

Therefore, The taxable amount of the distribution is $120000  and The applicable penalty is $3,000.

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Which of the following statements best characterizes the bottom line of security for e-commerce?
kifflom [539]

Answer:

Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure. C

Explanation:

5 0
3 years ago
1.All of the following are likely to be the benefits of a college graduate except:a.Earn less money overtimeb.Better job stabili
Hoochie [10]

The following are almost certainly the advantages of being a college graduate: enhanced wellbeing and health. Ans. D

<h3>What are the advantages of graduating from college?</h3>

According to the Bureau of Labor Statistics, individuals with higher levels of education "often earn more and have fewer opportunities than individuals with lower levels of education."According to statistics, people with a college degree will earn 84 percent more money overall than those with only a high school education.

<h3>What advantage of a higher education is most significant?</h3>

The chance to impact your community and boost professional stability and satisfaction are just two of the many benefits of attending college. Having a college education can indeed be essential to your future success as more and more professions call for additional education.

To know more about benefits of a college visit:

brainly.com/question/13575975

#SPJ4

5 0
1 year ago
Does the amount of effort that you put into your courses increase or decrease the marginal cost of your education? Explain your
velikii [3]

The amount of effort that you put into your courses increases the marginal

cost of your education.

Marginal cost refers to the incremental cost which is accrued as a result of

increase in goods and services.

In this scenario, amount of effort put into courses entails more time and

money spent from buying of books and other materials. This therefore

depicts an increase in the incremental and marginal cost.

Read more about Marginal cost here brainly.com/question/16615264

4 0
3 years ago
Assume the smart watch industry is a perfectly competitive industry that uses a specialized input. If this industry experiences
RideAnS [48]

Answer:

Option B, both input and output prices will increase

Explanation:

Since the demand far smart watches is increasing, the price of watches will escalate to cater the opportunity cost. With the rising demand for smart watch, the demand for specialized input will also increase. Considering the growth in demand for specialized input, its cost shall also escalate to take the benefit of opportunity. Along with raw material, variable costs such as transportation, manpower, electricity etc.  will also increase both in input (bringing raw material and producing final product) and output (export of the final product)

In nut shell, both the input and output price will increase.

5 0
3 years ago
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year pay
STALIN [3.7K]

Answer:

Interest for second year $2,114.08

Explanation:

given data

loan Amount = $40,000.00  

Interest rate r = 6.00%  

time period t = 7  

solution

we get here first Equal Monthly Payment EMI that is express as

EMI = \frac{P \times r \times (1+r)^t}{(1+r)^t-1}      ................1

here P is Loan Amount and r is rate and t is time period  

put here value and we get  

EMI = \frac{40000 \times 0.06 \times (1+0.06)^7}{(1+0.06)^7-1}    

EMI = $7165.40  

now

we get here interest for second year that is

Closing balance at year 1 = opening balance + Interest - EMI Payment

Closing balance at year 1 =  $40,000  + $2400 - $7165.40  

Closing balance at year 1 =   $35234.60

so Interest for second year $2,114.08

8 0
4 years ago
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