Mrs. Lohan, age 64, plans to retire this December. She estimates that the balance in her IRA will be $86,500, which she plans to withdraw to finance the purchase of a condominium. Assuming that her marginal tax rate is 24 percent, compute her after-tax cash from the IRA liquidation assuming that: a. The IRA is a Roth IRA which she opened in 1999.b. The IRA is a traditional IRA to which she made only deductible contributions. c. The IRA is a traditional IRA to which she made $20,400 deductible and $32,600 nondeductible contributions.
Answers: 3
Business, 22.06.2019 02:50, smariedegray
Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash
Answers: 2
Business, 22.06.2019 03:00, rafa3997
Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.
Answers: 2
Business, 22.06.2019 11:10, takaralocklear
An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value
Answers: 2
Mrs. Lohan, age 64, plans to retire this December. She estimates that the balance in her IRA will be...
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