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igomit [66]
2 years ago
10

A 38-year-old investor places $25,000 into a single premium qualified deferred variable annuity. Twenty years later, with the ac

count valued at $72,000, the investor withdraws $50,000. If the investor is in the 25% marginal income tax bracket, the total tax liability is
Business
1 answer:
Bad White [126]2 years ago
6 0

The total tax liability is $12,500.

<h3>What is the total tax liability? </h3>

Due to the fact that the account is qualified annuity, the total amount withdrawn is subject to tax.  Also, because the investor is less than 59.5 years, the investor pays an additional tax of 10%.

The effective total tax = 25% + 10% = 35%

Total tax liability = 25% x $50,000

= 0.25 x $25,000 = $12,500

To learn more about taxes, please check: brainly.com/question/25311567

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docker41 [41]

Answer:

Bribery in the world of business typically happens when an organization or representative of an organization gives financial benefits to an official to gain favor or manipulate a business decision - True.

Bribery is the giving or offering of items of value (especially money) to a government official in exchange for favorable treatment. Bribing is unethical and illegal, but it is common practice in many countries, so common that it is expected.

The Foreign Corrupt Practices Act was implemented in the aftermath of disclosures that businesses were violating the IMA Code of Ethics - True.

In the seventies, U.S. Government investigations found that hundreds of U.S. companies operating abroad had turned to bribery in order to gain the favor of foreing officials. This conduct is related to the statement explained above: bribery is pervasive in many countries around the world.

Managers are required to follow specific rules issued by the IMA for internal financial reporting. - False.

The IMA Code of Ethics does not provide specific rules for financial reporting (these specific rules are found instead either in the Generally Accepted Accounting Principles (GAAP) or in the or in the International Financial Reporting Standards (IFRS)).

The IMA Code of Ethics instead provides principles, or ethical guidelines, to be followed by participants in the management accounting profession.

Ethics is more than obeying laws - True.

Ethics goes beyond what is legally right, and is more related to what is morally right. An ethical person should do the right thing even if there is no legal code explicitely telling him to do so.

The Sarbanes-Oxley Act addressed public company accounting reform. - True

This act added requirements for public accounting firms, and included legal penalties including possible jail time for certain types of misconduct. The Act was enacted following major accounting scandals such as Enron.

5 0
3 years ago
Can somebody help me find a pattern in these numbers?
Papessa [141]
1 and 5 would be the numbers
3 0
2 years ago
Before a firm is allowed access to the European marketplace, the European Union requires that the quality of the firm’s manufact
Eduardwww [97]

Answer:

ISO 9000

Explanation:

In this question, the quality of standard being mentioned is known as the ISO 9000. This is a set of standards that helps organizations make sure that they are meeting the customer and shareholder needs as well as complying to the statutory and regulatory requirements that exist regarding the product or service. This is the main quality of standards that are enforced and required by the European Union for every firm in its marketplace.

3 0
3 years ago
Cheshire Corporation purchases a machine for​ $125,000. It has an estimated salvage value of​ $10,000 and is expected to produce
densk [106]

Answer: <u><em>Depreciation for the first year = 17825</em></u>

Explanation:

Given:

Machine purchased for $125,000

Salvage value of​ $10,000

Output = ​100,000

First year of​ operation, Output = 15500

First, we'll evaluate depreciation per unit over the entire life of the machine:

i.e. Depreciation\ per\ unit = \frac{ Purchasing\ cost - Salvage\ value}{Total\ units\ produced}

Depreciation per unit = \frac{125000 - 10000}{100000}

<em>Depreciation per unit = 1.15</em>

Now, we'll compute the depreciation for the first year:

Depreciation for the first year = Depreciation per unit ×  Output (first year)

Depreciation for the first year = 1.15 × 15500

<u><em>Depreciation for the first year = 17825</em></u>

7 0
2 years ago
Read 2 more answers
A limitation of bond ratings is that they ____
Andrej [43]

A limitation of bond ratings is that they focus exclusively on default risk.

When investing, the bond rating represents the creditworthiness of a corporate or government bond. It's not the same as a person's creditworthiness. Ratings are published by rating agencies and used by investment professionals to assess the likelihood of debt repayment.

Bond Rating is a character-based credit rating system used to assess bond quality and creditworthiness. Investment grade bonds are rated by Standard & Poor's from AAA to BBB- and by Moody's from Aaa to Baa3. Junk bonds have a lower rating.

Learn more about bond rating here:brainly.com/question/17667917

#SPJ4

8 0
1 year ago
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