What amount must the company include in its gross income

Assignment Help Financial Accounting

Reference no: EM131223060

A corporation receives $200,000 from a life insurance policy that is owned on director life. I also had a seller reduce the amount it owed on a purchase by $1,000. Based on these facts, what amount must the company include in its gross income

Reference no: EM131223060

Questions Cloud

Compute the present value of minimum lease payments : On Jan1, 2008, Burke Corp. signed a 5-year noncancelable lease for a machine. The terms of the lease called for Burke to make annual payments of $8,668 at the beginning of each year, starting Jan. 1, 2008. What type of lease is this? Explain. Compute..

Why is your department best suited to run the given program : How does this program fit into the official mission of your department? Why is your department best suited to run this program? Is this a new program or an existing program?

Describe and explain scenes that apply to the social theme : Explain your interpretation of the meanings of the identified nonverbal communications and symbolism. Summarize how these interpretations are important to the sociological understanding of your chosen social inequality or social class theme. Provid..

Slope of the line that connects : Write a program (in C++) that prompts the user to enter the coordinates of two points (x1, y1) and (x2, y2), and display the slope of the line that connects the two points. Formula of the slope is (y2-y1)/(x2-x1)

What amount must the company include in its gross income : A corporation receives $200,000 from a life insurance policy that is owned on director life. I also had a seller reduce the amount it owed on a purchase by $1,000. Based on these facts, what amount must the company include in its gross income

Expand and improve storage on servers : You've been hired by a company that wants to expand and improve storage on their servers. They would like to implement some form of RAID, but are unclear what the different options provide.

Calculate the system transfer function : A temperature sensor enclosed in a thermo-well is used to measure temperature of a fluid.- Calculate the system transfer function.

Zero coupon original issue discount bond was issued : A 30 year zero coupon original issue discount bond was issued for $200,000. There is no provision for recalling the bond. The semiannual yield to maturity of the obligation is 6 percent. Compute the issue discount for the first and second accrual per..

Prepare detailed budget statement : PB Ltd manufactures a range of electrical products. They specialise in four main models: Product A; Product B; Product C and; Product D. Prepare a detailed budget statement that shows the total contribution for each model. Prepare a statement for the..

User Account

All Pages