Answer:
excess plan pay $5000
Explanation:
given data
each covering losses = $10,000
insured suffered a loss = $15,000
solution
we get here excess plan pay that is express as
excess plan pay = insured suffered a loss - each covering losses ....................1
put here value and we get excess plan pay that is
excess plan pay = $15,000 - $10,000
excess plan pay = $5,000
<span>When a commercial item is procured by the government, the contractor will provide a </span>TDP or Technical Data Package<span> to the government</span> that documents the functional, performance, and physical characteristics of their product and will assist in the development of configuration management efforts.
Answer:
B) $3,000
Explanation:
Since Laura acquired this property (stocks) by gift, her basis for loss will be $3,000 which is equal to the fair market value at the time she received the gift. If she had made a gain with this transaction, her basis for gain would have been the $4,000 of her father's basis.
A Make-to-Order Operations operation does not start processing or assembling products until it receives a customer order.
This type of strategy is used to minimize product abundance that exist in the market. Usually, being done by the company whose products sold under a large price (such as car or boats)
Answer:
Bob Katz and Sally Mander
Taxable Income for 2018:
= $78,200
Explanation:
a) Data and Calculations:
Total wages = $102,400
Gain from sale of stock = 5,200
Interest income = 100
Total income = $107,700
less total deductions = (29,500)
Taxable Income = $78,200
b) Bob Katz and Sally Mander will have taxable income of $78,200 when the appropriate rate of tax is applied and the tax liability obtained, then the $1,500 tax credit will be deducted before arriving at the tax liability due.
c) The short-term capital gain of $5,200 is taxed as ordinary income. Since it is held for less than a year, it will be included in the taxable income for that year and it follows the same tax brackets as ordinary income. On the other hand, the long-term capital gain of $13,000 will attract a tax rate of 0 percent for a taxable income of $78,200. Otherwise, it will attract a tax rate of 15 percent or 20 percent, depending on income level. This means that long-term capital gains tax rates are much lower than the ordinary income tax rate.
