Answer:
The correct answer is a) Payor Benefit
Explanation:
When the payor dies or becomes disabled, the insurer will suspend the premiums until the child reaches 19 years old, the child must be under age 18, or up to age 19 and still attending high school. Usually, the payor is a parent (father, mother, brothers).
Answer:
(receive higher wages that reflect an increase in their value of marginal product.)
Answer:
Explanation:
Amount realized on sale:
Cash $75,000
Purchaser’s note 675,000
$750,000
Adjusted basis (535,000)
Gain realized on sale $215,000
b. $215,000 gain realized ÷ $750,000 contract price = 28.67% gross profit percentage.
Cash received in year of sale:
Cash at closing $75,000
August principal payment 33,750
$108,750
Gain recognized (108750*28.67%) $31,179
A. Book gain $215,000
Tax gain (31,179)
Book/tax difference $183,821
B. $183,821 × 35% = $64,338 deferred tax liability
The excess of book gain over tax gain is a favorable difference.
Answer:
230
Explanation:
Calculation for Champ’s budgeted production (in units) for May
CHAMP INC.
Production Budget For month ended May 31
Sales during the month 230
Less: Opening Stock (138)
(60%*230)
Sales units required to produce in May 92
(230-128)
Sales during June 230
Add: Closing stock of May 138
(230*60%)
Budgeted production (in units) for May: 230 (138+92)
Therefore Champ’s budgeted production (in units) for May will be 230
It is the second answer 19 purchased
