What is the effect on Laura gross income

Assignment Help Accounting Basics
Reference no: EM132595863

Question - Laura spent the last 75 days of 2019 in a nursing home. The cost of the services provided to her was $22,500 ($300 per day). Medicare paid $8,000 toward the cost of her stay. Laura also received $15,080 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludable amount is $370. What is the effect on Laura's gross income?

Reference no: EM132595863

Questions Cloud

Calculate the average age of receivables and sales revenue : Calculate the average age of receivables: (Accounts Receivable * 365) / Sales Revenue ratios and compare your results with industry benchmark
Determine the correct inventory amount to be reported : Question - Goods in transit; consignment. Determine the correct inventory amount to be reported in Raymond's 2021 balance sheet
Second of the three business memos : You will write the second of the three business memos that you will write for the course.
Calculate the economic value adding assuming cost of capital : Calculate the economic value adding assuming its cost of capital 10%. Home depot entered fiscal 2017 with a total capitalization of 21,889 million.
What is the effect on Laura gross income : Laura spent the last 75 days of 2019 in a nursing home. Assume that the Federal daily excludable amount is $370. What is the effect on Laura's gross income
What is? pepsico equity cost of? capital : Suppose? Pepsico's stock has a beta of 0.58. If the? risk-free rate is 2% and the expected return of the market portfolio is 8%, what is? Pepsico's equity cost
Calculate the average age of receivables and sales revenue : Calculate the average age of receivables: (Accounts Receivable * 365) / Sales Revenue ratios and compare your results with industry benchmark
Creating a new idea by analyzing multiple disparate concepts : Creating a new idea by analyzing multiple disparate concepts or notions to discern the common thematic or connecting principles among them
Compute the weighted average cost of capital : The balance sheet of Murdoch Pty Ltd as at 30 June 2019 reveals the following information:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Write a strategic analysis report

Write a strategic analysis report of NOT more than 2500 words. General environment analysis and The industry environment

  Which is a fundamental characteristic of the market system

Which of the following is a fundamental characteristic of the market system? In 2003, FASB and IASB met and established four criteria for establishing revenue recognition. Which of the following conditions must be present?

  Prepare journal entries for the purchase of treasury stock

Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. Pronghorn Corporation purchased from its stockholders

  Problem - Repurchase Agreement

Zagat Ltd. enters into an agreement on March 1, 2019, to sell Werner Metal aluminum ingots. Prepare Zagat's journal entry necessary on March 1, 2019

  How many times has his strategic vision changed

What was Howard Schultz's original strategic vision for Starbucks? Is his 2010 strategic vision for Starbucks different from the one he had in the 1980s?

  Considering genesiss aggressive growth plan sensible

considering genesiss aggressive growth plan sensible essentials suggested that its client should broaden the scope of

  Western transport company entered into the treasury stock

In 2011, Western Transport Company entered into the treasury stock transactions described below. In 2009, Western Transport had issued 140 million shares of its $1 par common stock at $17 per share.

  Joint costs in production

Which of the following industries would most likely have joint costs in production?

  Prepare journal entries for the preceding transactions

During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, Prepare journal entries for the preceding transactions

  Discuss computations of march labor variances

During March, the supervisor left for vacation without arranging for a replacement. Which variances would have been most affected

  Andretti company has a single product called a dak the

andretti company has a single product called a dak. the company normally produces and sells 78000 daks each year at a

  Prepare the adjusting journal entry to record bad debt

Accounts receivable are $400,000 at the end of the year, Prepare the adjusting journal entry to record bad debt expense for the year

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