Business, 27.05.2020 23:07 hjlhdjfhjh
Your friend Scotty informs you that in 2019 he received a tax-free reimbursement of some medical expenses he paid in 2018. Which of the following statements best explains why Scotty is not required to report the reimbursement in gross income? a. Scotty itemized deductions in 2018. b. Scotty itemized deductions in 2019. c. Scotty did not itemize deductions in 2018. d. Scotty did not itemize deductions in 2019. e. Scotty itemized deductions in 2019 but not in 2018.
Answers: 1
Business, 22.06.2019 06:30
Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances
Answers: 1
Business, 22.06.2019 10:00
Your father offers you a choice of $120,000 in 11 years or $48,500 today. use appendix b as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. if money is discounted at 11 percent, what is the present value of the $120,000?
Answers: 3
Business, 22.06.2019 18:30
Health insurance protects you if you experience any of the following except: a: if you have to be hospitalized b: if you damage someone's property c: if you need to visit a clinic d: if you can't work because of illness
Answers: 2
Your friend Scotty informs you that in 2019 he received a tax-free reimbursement of some medical exp...
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