Answer: Ordinary income tax on earnings exceeding basis.
Explanation:
From the question, we are informed that a 60-year-old customer purchases a nonqualified variable annuity and withdraws some of her funds before the contract is annuitized.
The consequences of this action is that Ordinary income tax on earnings exceeding basis. It should be note that the distributions from a nonqualified plan had to do with return on original investment and income from the investment. Since there's defer of the income, it'll be taxable as an ordinary income.
Answer:
$900 is the correct answer
Explanation:
The reason is that according to the accrual basis the earnings must be realized when they are earned. In the question it is clearly stated that the earnings per month are $900 ($5400/6months). As services for the five months are delivered and the remainder left is of only one month. So the earnings that will be realized in the accounting books will be:
Dr Unearned Revenue $4500
Cr Revenue Earned $4500
Furthermore, the amount left in the unearned revenue account will be $900 ($5400-$4500).
Answer:
165,000 pounds
Explanation:
A Purchase Budget is required to determine the quantities and cost of purchases required for use in production.
Materials Purchase Budget for Second Quarter (Pounds)
Budgeted Production Materials (80,000 x 2) 160,000
Add Budgeted Closing Materials (90,000 x 2 x 25%) 45,000
Total Materials 205,000
Less Budgeted Opening Materials (80,000 x 2 x 25%) (40,000)
Budgeted Material Purchase (pounds) 165,000
Therefore,
Budgeted purchases of material for the second quarter would be 165,000 pounds
Sales promotion expenditures account for <u>"19"</u> percent of all promotional spending.
A promotion expense is a cost that a business brings about to improve its items or administrations known to purchasers, more often than not as giveaways. The IRS considers advancement costs to be assess deductible as operational expense, if they are standard and essential. When writing off promotion expenses on their assessment forms, organizations should take care to guarantee that these costs would not all the more precisely be named publicizing costs or charitable commitments.
Answer:
all of them
dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Habitant morbi tristique senectus et netus et malesuada fames. Pharetra massa massa ultricies mi. Tortor at risus viv et egestas quis ipsum suspendisse. Enim neque volutpat ac tincidunt vitae. Leo a diam sollicitudin tempor id eu nisl nunc. A diam maecenas sed enim ut sem viverra.dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Habitant morbi tristique senectus et netus et malesuada fames. Pharetra massa massa ultricies mi. Tortor at risus viv et egestas quis ipsum suspendisse. Enim neque volutpat ac tincidunt vitae. Leo a diam sollicitudin tempor id eu nisl nunc. A diam maecenas sed enim ut sem viverra.
Explanation:
