Ask question

Ask question

All categories

3 years ago

5

A 40-year old taxpayer has owned a Roth IRA for more than 5 years. A $10,000 distribution will be considered nonqualified if the

distribution was ______.

1 answer:

olga_2 [115]3 years ago

8 0

Answer:

Your answer would be , ''used to pay for higher education expenses''

Explanation:

You might be interested in

Good strategy execution involves Multiple Choice making choices among broad or narrow low cost and differentiation strategies to

Semmy [17]

Answer:

<u><em>The answer is:</em></u> team participation to perform strategy-critical activities in light of prevailing circumstances.

Explanation:

The good execution of the strategy is mainly related to the ability of managers to involve all operational areas and all employees in the process of participating in the strategic actions that were developed to achieve the goals and objectives of the organization.

Therefore, managers have an essential role in exercising control, coordination and monitoring of the teams, so that the execution of the strategy takes place in an effective and active manner, being shared as a responsibility and efforts of the entire team.

8 0

3 years ago

At December 31, 2019, Obermeyer Imports reported the following information on its balance sheet.

Vinvika [58]

Answer:

Obermeyer Imports

a) Journal Entries to record each transaction:

1. Debit Accounts Receivable $2,600,000

Credit Sales Revenue $2,600,000

To record the sale of goods on account.

2. Debit Sales Returns $45,000

Credit Accounts Receivable $45,000

To record the return of goods on account.

3. Debit Cash Account $2,250,000

Credit Accounts Receivable $2,250,000

To record collections from customers.

4. Debit Uncollectible Expenses $10,000

Credit Accounts Receivable $10,000

To record the write-off of accounts deemed uncollectible.

5. Debit Cash Account $3,000

Credit Uncollectible Expenses $3,000

To record the recovery of bad debts previously written off.

b) T-accounts:

Accounts Receivable

Accounts Titles Debit Credit

Beginning balances $250,000

Sales Revenue 2,600,000

Sales Returns 45,000

Cash Account 2,250,000

Uncollectible Expenses 10,000

Ending Balances 545,000

Total $2,850,000 $2,850,000

Allowance for doubtful accounts

Accounts Titles Debit Credit

Beginning balances $15,000

Uncollectible expense 7,000

Ending balances $22,000

c) Journal Entry

Debit Uncollectible Expense $7,000

Credit Allowance for doubtful accounts $7,000

To record the allowance for uncollectibles.

Explanation:

a) Data and Calculations:

Accounts receivable $250,000

Less: Allowance for doubtful accounts 15,000

b) The allowance for Doubtful Accounts will increase by $7,000 to $22,000. As a result, the Uncollectible Expense will be debited with $7,000 while the Allowance for doubtful accounts will be credited with $7,000. This brings the total of Allowance for Doubtful Accounts to $22,000 in accordance with the new estimate based on the aging of accounts receivable.

3 0

3 years ago

Steve recommends that employees should be compensated according to their competencies, rather than their designations. Employees

astra-53 [7]

Answer:

d. skill-based pay system

Explanation:

Skill-based pay system is when the amount paid to an employee is linked to the employees skills, education or knowledge.

The skill-based pay system pays employees for been proficient at their jobs and it encourages employees to gain more skills.

5 0

4 years ago

Simpson Enterprises is considering a new project with revenue of $325,000 for the indefinite future. Cash costs are 63 percent o

melamori03 [73]

Answer:

net present value = 133808.82

Explanation:

solution

we find here present value of cash inflows that is

Cash inflows = $325,000

and

cash costs @63% = $204,750

so

cash flow before tax = 325,000 - 204,750 = $120,250

and Tax @21% = $25,252.5

so

Cash flow after tax will be = $120,250 - $25,252.5 = $94,997.5

Discounting factor is = 0.17

Present value of cash inflows = (cash flows after tax ÷ discounting factor)

Present value of cash inflows = $\frac{94997.5}{0.17}$

Present value of cash inflows = $558808.82

so

net present value = Present value of cash inflow - present value of cash outflows

put here

net present value = $558808.82 - $425,000

net present value = 133808.82

4 0

3 years ago

Use the ethical tools from the readings to discuss the ramifications of electronic medical records. Suppose that there was a nat

ladessa [460]

Answer and Explanation:

1) EHR System which helps in capturing the functionalities and and check for required informations

2) Online Tool for notifying the doctor about the status pf the patient

3) Interactive health records

4) Computerized physician entry of orders (CPOE)

Benefits of centralized system are as follows:

1) IT gives a lower hardware expense

2) Improves the productivity of the IT Staff

3) Enhances the purchasing power

4) Meets the industry regulations

5) Information flow is properly maintained.

The cost of the system would be with respect to the tools to be used and the broadness of the network.

5 0

3 years ago