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I am Lyosha [343]
3 years ago
14

The death benefit of a(n) _____ life insurance policy may go down because of poor investment returns.

Business
1 answer:
ICE Princess25 [194]3 years ago
6 0
<span>The death benefit of a(n) variable and universal life insurance policy may go down because of poor investment returns.
Universal life insurance and variable life insurance are two types of permanent life insurance, in this case if the the person who insured dies any time</span><span> as long as there is enough cash value to pay the costs of insurance in the policy, the death benefit will be paid. </span>
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This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, th
Zinaida [17]

Answer:

The answer is A) $2,000

Explanation:

According to the IRS Publication 525 (2018), Taxable and Nontaxable Income

<em>"</em><em><u>If you receive tangible personal property (other than cash, a gift certificate, or an equivalent item) as an award for length of service</u></em><em> or safety achievement, you generally can </em><em><u>exclude its value from your income</u></em><em>. However, the amount you can exclude is limited to your employer's cost and </em><em><u>can’t be more than $1,600</u></em><em> ($400 for awards that aren’t qualified plan awards) for all such awards you receive during the year. Your employer can tell you whether your award is a qualified plan award. Your employer must make the award as part of a meaningful presentation, under conditions and circumstances that don’t create a significant likelihood of it being disguised pay." </em>

Ed has to include the $2,000 he received as income but the $250 watch can be excluded.  

8 0
3 years ago
Financial literacy is the set of skills and knowledge needed to make informed decisions about __________. A. career matters B. m
Likurg_2 [28]

Answer: B. Money matters

Explanation: “Financial” means the management of money, so money matters would be the correct answer.

5 0
3 years ago
Classify each of the following financial statement items based upon the major balance sheet classifications. select a major bala
seropon [69]

Answer:

Prepaid Advertising - Current Asset

Equipment - Property, Plant, and Equipment

Trademarks - Intangible Assets

Salaries and Wages payable - Current Liabilities

Income Tax payable - Current Liabilities

Retained Earnings - Stockholder's Equity

Account Receivable - Current Assets

Land (Held for future use) - Long term Investment

Patents - Intangible Asset

Bonds Payable - Long term Liability

Common Stock - Stockholder's Equity

Accumulated Depreciation -  Property, Plant, and Equipment

Unearned sales revenue - Current Liability

Explanation:

Balance Sheet of a company has different heads under which items are classified according to their nature. The major account heads for classification are Assets, Liabilities and Equity.

Prepaid Advertising and Account receivable are classified as current asset because this is expected to be used within a year.

Equipment is classified as Long term asset under the head, Property, Plant and Equipment. The equipment has estimated useful life more than a year then it is classified as Long term asset.

Trademarks and patents are classified as intangible assets, because they are not physical in nature.

Salaries and Wages payable, Income Tax payable and Unearned sales revenue are classified as Current liabilities. These expenses are due to pay within a year.

Retained Earnings and Common Stock are classified as Stockholders equity. The amount after subtracting all liabilities from total assets is referred to as Stockholder equity.

Accumulated depreciation is deducted from Property, Plant and Assets. This has negative sign and is a contra asset account.

5 0
3 years ago
Talbot Riding Stables provides stables, care for animals, and grounds for riding and showing horses. The account balances at the
Goshia [24]

Answer:

See answers below in the explanation

Explanation:

Journal Entries :

Journals

<u>Date Account and Explanation Debit Credit </u>

a Accounts receivable             210300  

Service Revenue                                   210300

(Record earned revenue)  

   

Cash                                    62300  

Service Revenue*                                   62300

(Record earned revenue)  

   

   

b  cash                                     199100  

accounts receivable**                            199100

(Record collection Account)  

*$41000+$20500=$62300

**$4400+$210300-$$15600=$199100

   

   

c Supplies                                     62900  

Accounts Payable                                   62900

(record purchase of supplies on credit)  

   

d Supplies                                      7400  

 Cash                                                   7400

(record purchase of supplies  

   

e Wages Payable                     14200  

Cash                                                   14200

Record Payment of previous wages  

   

Wages Expenses                    112000  

Cash                                                    112000

(Record Payment to Employees)  

   

f Income Tax payable            15100  

cash                                                     15100

(Record Payment of Income taxes  

   

g Accounts Payable                      73000  

cash                                                      73000

(record payment of account)  

   

h Interest Expense                      2700  

Interest Payable                                             2700  

Cash***                                                      5400

(Record Payment of Interest)  

   

i No journal entry required  

   

j Property Taxes Expense     17000  

cash                                                       17000

(Record payment of property taxes)  

   

k Dividends                             7200  

Cash                                                       7200

(Record Payment of dividends)  

   

*** $60000*9%=$5400    

   

6 0
3 years ago
All of the following are factors of production EXCEPT: A. capital) B. labor) C. currency) D. land)
daser333 [38]

capital production

pls mark brainliest

5 0
3 years ago
Read 2 more answers
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