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3 years ago

Marilyn is age 66, if she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply?

Business

1 answer:

Arada [10]3 years ago

5 0

Answer:

No penalty

Explanation:

The tax penalty is as follows

The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible (HDHP) would not covered here

In the case when rules are not followed so there is a penalty of 20%

Given that the amount taxable is $15,000

So here the penalty would be

= $15,000 × 20%

= $3,000

But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65

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A firm is producing 24 units of output. At the 24th unit of output, marginal revenue is $5, and marginal cost is $4; at the 25th

agasfer [191]

Answer:

False.

Explanation:

(1) Units produced = 24 units of output

At the 24th unit of output,

Marginal revenue = $5

Marginal cost = $4

MR ≠ MC

At the 25th unit of output,

Marginal revenue = $4.50

Marginal cost = $4.50

MR = MC

At the 26th unit of output,

Marginal revenue = $4

Marginal cost = $5

MR ≠ MC

A firm maximizes its profit at a point where the marginal revenue is equal to the marginal cost i.e. MR = MC.

It is clear from the above scenario that this firm doesn't stop at 24 units of output because at this point of production profit maximizing condition is not fulfilled which means MR ≠ MC.

This firm should stopped at 25 units of output where marginal revenue is equal to the marginal cost from the 25th unit of output.

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3 years ago

What grade do we learn geometry in?

sweet [91]

Answer:

grade 9

Explanation:

Because In United States approximately in 14-15 years old in elementary about goemetric shapes

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3 years ago

On January 1, Whispering Winds Corp. had 62,600 shares of no-par common stock issued and outstanding. The stock has a stated val

Elenna [48]

Answer:

Explanation:

The journal entries are shown below:

1. Cash Dividend A/c Dr $122,838 (62,600 + 16,650) × $1.55

To Dividend payable A/c $122,838

(Being the dividend is declared)

2. Dividend payable A/c $122,838

To Cash A/c $122,838

(Being the dividend is paid)

3. Cash Dividend A/c Dr $142,97 (62,600 + 16,650 + 7,400) × $1.65

To Dividend payable A/c $142,973

(Bring dividend is recorded)

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4 years ago

Harvard Financial Services purchased computers that are to be used in its consultancy services. Based on the matching principle,

gladu [14]

Answer:

c. Accumulated Depreciation

Explanation:

The balance sheet is used to show the balance of the assets, liabilities and owners equity at a given period.

When a fixed asset is purchased, it is recognized at cost. As it is used, it is depreciated by debiting the depreciation expense in the income statement and crediting the accumulated depreciation in the balance sheet.

Hence the account other than Computers, that should appear on the balance sheet as of December 31, 2016 is Accumulated Depreciation

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4 years ago

The 6.3 percent, semi-annual coupon bonds of PE Engineers mature in 13 years and have a price of $992. These bonds have a curren

ludmilkaskok [199]

Answer:

6.35, 6.39 and 6.49

Explanation:

6.3% = 0.063

yield = 0.063 ×$1,000/ 0.992 yield = 0.063 ×$1,000)/ 0.992 ×$1,000)

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3 years ago

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