How much is the taxable income

Assignment Help Accounting Basics
Reference no: EM133078914

Question - Amando took out a life insurance policy for P1,000,000.00 naming his wife as beneficiary. Under the terms of the policy, the insurer will pay Amando the amount of P1,000,000.00 after the 20th year of the policy, or his beneficiary, should he die before that date. Amando outlived the policy and received P1,000,000.00. The premiums paid on the policy was P250,000.00. How much is the taxable income?

Reference no: EM133078914

Questions Cloud

What are limitations of dashboards : Explain how executive dashboards can lead to better business insights. What are the limitations of dashboards?
Why are prices advantageous over a system : 0n the producer side, why are prices advantageous over a system where each producer would make some amount of goods along their PPF?
Compute the new price for stock : Consider two stocks. For each, the expected dividend next year is $100, and the expected growth rate of dividends is 3 percent. The risk premium is 3 percent fo
Explain the financial investment and economic investment : 1. What is the difference between financial investment and economic investment?
How much is the taxable income : Amando took out a life insurance policy for P1,000,000.00 naming his wife as beneficiary. How much is the taxable income
Evaluate various financial information : You are a recently appointed board member to a hospital system and have been asked to do research on a possible bond to finance a major hospital renovation
What was total assets on abc balance sheet : Last year the company also borrowed an additional $320,000 from the bank. What was total assets on ABC's balance sheet at the end of the year
Example of a new technology health care devise : Help me to about mention some example of a new technology health care devise/innovation/product.
How did the collapse of the soviet union in 1991 : How did the collapse of the Soviet Union in 1991 and the end of the Cold War and the "peace dividend" influenced supply, demand and economic equilibrium in the

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is woodchucks tax income for the current year

During the current year, woodchuck inc. a closely held personal service corp has a $ 115,000, What is woodchucks tax income for the current year

  Calculate the selling price for each bond issue

Calculate the selling price for each bond issue - 680 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments

  On dec 31 2013 neyo co purchased machinery at 9593337 the

on dec. 31 2013 neyo co. purchased machinery at 95933.37. the co. paid 20000 down amp agreed to finance the remainder

  A company has fixed costs of 92450 its contribution margin

a company has fixed costs of 92450. its contribution margin ratio is 43 and the product sells for 56 per unit. what is

  Prepare the nci journal entries for consolidation worksheet

Prepare the NCI journal entries for the consolidation worksheet at 30 June 2021 demonstrating the step approach

  Find the value of the stream of rent payments

The first year's rent is expected to be $10,500, rent is expected to increase 3% each year. The discount rate is 10%. Find value of the stream of rent payments

  Prepare journal entries to record

Assume that $80,000 of the bonds are redeemed at 104. Prepare journal entries to record (a), (b), and (c)

  What was Bennett basis in Fedderman shares

On January 3, 20X1, Bennett and Malik each owned 100 shares of the 200 issued shares of Fedderman stock. What was Bennett basis in Fedderman shares

  Determine the current and noncurrent portions of the lease

The annual rental payment includes P6,000 to cover maintenance costs. Determine the current and noncurrent portions of the lease liability on December 31, 2001

  How much is the net realizable value of accounts receivable

How much is the net realizable value of accounts receivable as of December 31, 2019? Accounts receivable (January 1) - 205,000

  What is the intercept

Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales?

  Describe ways generate funds needed to start such a business

Determine amd Discuss any risks or benefits you should be aware of when gathering these funds. Provide examples to support your response.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd