What the income from the amounts received is

Assignment Help Accounting Basics
Reference no: EM132698789

Received by the taxpayer under policies:

Proceeds of life insurance (as beneficiary of mother), P400,000

Proceeds of life insurance (as beneficiary of father), P600,000

Insurance purchased from the father at cost to taxpayer of P200,000

Additional premiums paid by the taxpayer to continue the policy, P50,000

Amount received upon the death of the father, P500,000

Proceed of endowment policy, upon maturity, with premium payments made of P800,000, P1,000,000

Proceeds of comprehensive car insurance, P100,000

Crop insurance, from crop destroyed by typhoon, P50,000

Problem 1: What the income from the amounts received is

Reference no: EM132698789

Questions Cloud

Explains the importance of collective bargaining : Prepare a research paper that explains the importance of Collective Bargaining.
Describe the ethical issue and conclusions : Literature Review Students will complete a review of the literature on a topic of interest to them. They should select the topic as if they were planning.
What was last year dividend per share : The dividend payment was 10 percent greater than last year's pre-split dividend. What was last year's dividend per share
How much is the taxable dividend income of x : How much is the taxable dividend income of X? X, a domestic corporation, invested P1,000,000 in 10,000 common shares of stock of B
What the income from the amounts received is : What the income from the amounts received is? Proceed of endowment policy, upon maturity, with premium payments made of P800,000, P1,000,000
What will the price of the stock be immediately : Coldwater Fishery is considering a 1-for-4 reverse stock split. What will the price of the stock be immediately after the stock split
International balance of payments : Examine how surpluses and deficits in the balance of payments (BOP) affect exchange rates.
What will be the stock price immediately : BKP plans to initiate a 10-for-1 stock split. BKP's stock currently sells for $225 per share. What will be the stock price immediately
Compute what is the capital gain tax : It sold a piece of land and building abroad held as capital asset at a selling price of P5,000,000 with payment in one lump sum. The capital gain tax

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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