To enroll in Medicare Part C, an individual must A. also enroll in Medicare Part D B. have an annual income under $15, 000 C. already be enrolled in Medicare Part A only D. already be enrolled in both Medicare Parts A and B.
Q: $1500 is invested semi-annually for 3 years into a fund that pays 6.8% per year, compounded semi-…
A: i= interest Interest = 6.8%*1/2= 3.4%
Q: The entry recorded by a law firm after providing services previously recorded as Deferred Revenue…
A: Deferred revenue, often known as unearned income, refers to payments received in advance for items…
Q: Assume a merchandising company provides the following information from its master budget for the…
A: The cash collection from customers is the amount of cash collected during the period.
Q: lated as $100,000 m has a Specific Construction Loan of $300,000 at 5 st per annum. voidable…
A: Avoidable Interest: It is the amount of interest cost on loan during the period, which is…
Q: Sherrod, Inc., reported pretax accounting income of $76 million for 2021. The following information…
A: Every business must be evidenced in at least two places, according to the logic of a journal entry…
Q: Accounts Receivable Analysis The following data are taken from the financial statements of Basinger…
A: Accounts receivable: It implies to the money that a customer owed to a business for the goods and…
Q: Sarasota Company has the following account balances: Sales Revenue $242,100, Sales Discounts $3,310,…
A: Gross profit can be determined by following formula: Gross profit = Net sales - Cost of Goods sold
Q: On January 2, 2018, McKnight Furniture purchased display shelving for $8,000 cash, expecting the…
A: Answer:- Depreciation meaning:- The monetary worth of an assets which is reduced over a time…
Q: capital will be released 5 and 6 year of the project A and project B respectively, for investment…
A:
Q: The balance in the supplies account before adjustment at the end of the year is $615. The proper…
A: Given that, Supplies on hand at the end of year = $248 Supplies before adjustment = $615
Q: In the first part, how did you get the new price* new shared issued as 1000000? I am very confused.
A: Outstanding shares: This includes the total number of company's shares that are actually held by…
Q: A company paid $600,000 for 1-year, 10% bonds with a par value of $600,000 on July 1. The bonds pay…
A: A record is typically kept in the ledger accounts, but it can also be kept in a specific account,…
Q: Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the…
A: The T-accounts are prepared from the journal book. The trial balance is prepared using the final…
Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: 6. The local non-profit symphony is planninga concert fundraiser. The organization estimates that…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: ABC Corporation, a foreign corporation sold its 100,000 shares with par value of P 15 per share to…
A: A foreign corporation's capital gains tax rate is 15% of the net capital gains w.r.f April 11th…
Q: On July 1, 2021, Emilia Clarke opened a small paint shop called "Emilia Clarke Paint Shop." The…
A: The journal, ledger and trail balance are part of the accounting cycle. These are used to correctly…
Q: Northern Industries had sales of $429,000 in the month of May. Use the retail method to estimate the…
A: Introduction:- Retail method is used by retailers that resell merchandise to make an estimation of…
Q: for
A: An Income Statement is a financial report that indicates the revenue and expenses of a business. it…
Q: For many years , Manama Corporation has used a straightforward absorption costing approach to cost -…
A: According to the question, we are required to compute the selling price of the product no. 700 and…
Q: P2.2B (LO 2) AP Mountain Adventure Travel Tours was started on May 1 by Dustin Tanner. The following…
A: Journal entry: It implies to the recording of financial transactions, entered into by the business,…
Q: ow much must be invested now to receive $23,000 for 10 years if the first $23,000 is received one…
A: Present value of annuities would give the amount required today considering the interest rate and…
Q: Jones Supply Services paid $350 cash, the amount owed from the previous month, to a materials…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Crane Company leased machinery to Stine Company on July 1, 2021, for a 10-year period expiring June…
A: Introduction:- Interest Revenue is the interest earned by a company during the period of time.
Q: The Marchetti Soup company entered into the following transactions during the month of June:(1)…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Question 7 The Humpty Doo Rare Earths Mining Company started mining operations on 1 July 2019. In…
A: Journal entry: The first step in accounting is a journal entry, which is used to record a business…
Q: Over the term of the bonds, the amount of unamortized discount will a. be unaffected until the…
A: Bonds are those note which are traded in the public market and these are sold for more or less than…
Q: Depreciation on equipment for the year is $5,760. a. Record the journal entry if the company…
A: Answer :- step 2 in the solution.
Q: paying wages Pablo Management has eight employees, each of whom earns $220 per day. They are paid on…
A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…
Q: 3. Consider the following information on South Korea's trade. Thirty percent of the trade is…
A: Effective trade weight real exchange rate calculates the total effective exchange rate a company…
Q: Sheridan Company manufactures a product with a standard direct labor cost of two hours at $14 per…
A: Variances are calculated to determine the deviation of actual data from the standard data. The…
Q: As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of…
A: The accounting equation states that assets equal to sum of liabilities and equity. Assets =…
Q: Item A corporation's liability (Notes Payable) in the amount of P 100,000 was paid by issuing its…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: Kroger, the country’s leading grocery-only chain, added a line of private-label organic and natural…
A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…
Q: Prepare a journal entry for the purchase of a truck on April 4 for $73,040, paying $4,200 cash and…
A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…
Q: Prepare journal entries for the above transactions
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: Income statement for the year ended 31 December Year before last Last year £000 £000…
A: Since we answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and…
Q: aughn Manufacturing produces a product that requires 3.40 pounds of materials per unit. The…
A: Material is the inventory purchased by the company in order to produce the product for the company.…
Q: Which of the following is the proper adjusting entry, based on a prepaid insurance account balance…
A:
Q: A company has an overhead application rate of 120% of direct labor costs. How much overhead would be…
A: Overhead:- It is those costs that are required for the day-to-day operation of the business but…
Q: All of the following statements are objective of financial reporting, except: О А. Provide…
A: Financial reporting means reporting on financial data that indicates the financial health of an…
Q: On October 17, Nikle Company purchased a building and a plot of land for $482,500. The building was…
A: In the context of the given question, we are required to prepare the journal entry. Journal entry:…
Q: 1 Transferred cash from a personal bank account in exchange for stock, $50,000 mo 2 Purchased $8,000…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: The following balances are shown in the shareholders' equity of tamarind company on December 31,…
A: Introduction: Shareholders' equity is owners' equity who has claim over the net assets of the…
Q: PA4-1 (Algo) Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO…
A: Trial balance is the statement which is prepared to summarize the balances of the ledger accounts…
Q: discuss why financial markets should be regulated
A: Financial markets is the market which is in-fact actually not a physical market where is the goods…
Q: 10 The analyze-record-summarize process is applied only to daily transactions, month-end…
A: Analyze-record-summarize the accounting events of a company is a collective process of the…
Q: The following balances have been taken from the unadjusted trial balance of Burwood Electric…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: X, a minimum wage earner. In 2018, his salary and overtime pay totaled 200,000 and his hazard pay is…
A: In the context of the given question, we are required to compute the taxable income of X in 2018.…
Q: Question Content Area Based on the following data, what is the accounts receivable turnover? Sales…
A: Accounts receivable: It refers to the funds owed by the customer for the purchase of goods and…
To enroll in Medicare Part C, an individual must
A. also enroll in Medicare Part D
B. have an annual income under $15, 000
C. already be enrolled in Medicare Part A only
D. already be enrolled in both Medicare Parts A and B.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- If Julia, age 65 and self employed paid 380.00 per month for health ins, how much can she deduct if she only had part b medicareValentino is a patient in a nursing home for 45 days of 2019. While in the nursing home, he incurs total costs of 13,500. Medicare pays 8,000 of the costs. Valentino receives 15,000 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is 370. Of the 15,000, what amount may Valentino exclude from his gross income?Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at $31,900. How much Social Security and Medicare must he pay this year? (a) Social Security- (b) Medicare-
- medicaid is only for those under 65 who do not get Medicare? Can people have both Medicare and Medicaid?Is there a complete 1040 form for this problem (see below)? If not can I get help with getting my 1040 form filled out. My calculations are correct, so I am guessing my problem is with inputing the information. Thanks Alton Newman, age 67, is married and files a joint return with his wife, Clair, age 65. Alton and Clair are both retired, and during 2018, they received Social Security benefits of $10,000. Both Alton and Clair are covered by Medicare. Alton’s Social Security number is 111-11-1119, and Clair’s is 123-45-6786. They reside at 210 College Drive, Columbia, SC 29201. Alton, who retired on January 1, 2018, receives benefits from a qualified pension plan of $2,750 a month for life. His total contributions to the plan (none of which were deductible) were $168,250. In January 2018, he received a bonus of $2,000 from his former employer for service performed in 2017. No income taxes were withheld on this bonus by his former employer (Amalgamated Industries, Inc.; EIN 12-3456789;…Valentino is a patient in a nursing home for 45 days of 2021. While in the nursing home, he incurs total costs of $13,500. Medicare pays $8,000 of the costs. Valentino receives $15,000 from his long-term care insurance policy, which pays while he is in the facility. Assume that the Federal daily excludible amount for Valentino is $400. Of the $15,000, what amount may Valentino exclude from his gross income?$fill in the blank 1
- Which of the following are qualified medical expenses for purposes of itemized deductions? a.Medical expenses paid personally out of a standard checking account. b.Medical expenses that were reimbursed in the same year. c.Medical expenses paid with funds out of a Health Savings account. d.Health insurance premiums paid pre-tax through an employer's benefit plan.If a taxpayer’s 2022 household income of $60,000 places the taxpayer at 250% of the federal poverty level, what is the taxpayer’s normal expected contribution when calculating the refundable tax credit for which the taxpayer may be eligible in 2022 under the ACA to purchase a qualified health plan? a. $1,200 b. $2,400 c. $4,800 d. $5,868Which of the following taxpayers are liable to pay the Medicare levy surcharge? Select one: A. Ian has a taxable income of $20,000, is single without dependants and doesn't have private health insurance B. Susan and Murray have a combined taxable income of $95,000, four children aged two to 10, and hold private health insurance (hospital cover) C. Vlad and Wilma have a combined taxable income of $310,000, two children under 18 and do not hold private health insurance D. Amelia has a taxable income of $65,000, is a sole parent to Charlie (5) and holds private health insurance (hospital cover)
- Under the TRAIN law, the amount of premium allowed per family during thetaxable year for health and/or hospitalization insurance is P2,500. TRUE OR FALSE?Jada (age 53) and Elijah (age 60) are married, and both are self-employed. In 2023. they participate in a health insurance plan with a $3,000 annual deductible and out-of-pocket maximum of $9,000. The only other health plan they have is a vision insurance plan. If they can contribute to an HSA what is their maximum contribution and deduction? ________________Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar.
