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balu736 [363]
2 years ago
5

Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. Assu

me that Jimmy meets the income limitation at the time of the contributions.How much of these funds may Jimmy withdraw tax-free?
Business
1 answer:
ValentinkaMS [17]2 years ago
4 0

Answer: $112,000

Explanation:

Jimmy is able to withdraw the entire $112,000 tax-free.

This is because to be able to Withdraw tax-free, one must have deposited money in the IRA for a minimum of 5 years and the person must be at least 59.5 years of age.

Those 2 criteria are met by Jimmy who deposited for 18 years and is now aged 65.

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Jack oversees two very different workers. Kenny wants to be told exactly what to do because he is hesitant to make decisions, an
lana66690 [7]

Answer:

Directive.

Explanation:

In this scenario, Jack oversees two very different workers. Kenny wants to be told exactly what to do because he is hesitant to make decisions, and Laila wants to be told exactly what to do because she wants to get on with it. So, even though they are very different people, they both respect decisiveness. According to the path-goal theory of leadership, Jack should use the directive leadership style with Kenny and Laila.

Under a directive leadership style, leaders generally set a clearly defined objective, guidelines, roles or functions and rules for his or her subordinates (employees).

<em>Hence, it is always considered or deemed necessary to guide employees to achieve organizational success in a directive leadership style. </em>

5 0
2 years ago
If your friend Raheem asks you, “What type of account should I use to save for retirement,” what would you tell him?
SSSSS [86.1K]

Answer:

Roth IRA account

Explanation:

The best type of account that you should save money in for Retirement is a Roth IRA account. This will allow you to put and save a maximum of $5,500 USD per year which will compound annually with interest and can be redeemed when you retire. Once you redeem your money at the age of 65 1/2 it will be completely tax-free. Meaning you have no liabilities with that money whatsoever and you can simply enjoy your retirement with that money.

7 0
2 years ago
In March, stockholders of Herbalife Nutrition approved a 3-for-2 stock split. After the split, how many shares of Herbalife stoc
Anna11 [10]

Answer:

600 shares

Explanation:

If a 3-for-2 stock split will take place, for every 2 stocks that an investor has, he will receive three stocks. So this specific investors who owns 400 stocks will receive:

(400 / 2) x 3 = 200 x 3 = 600 stocks.

After the 3-for-2 stock split, the company will have 50% more stocks outstanding and the price of each stock should be reduced by one third. So the investor shouldn't earn any profit from this split since the market value of the investment should remain about the same (stock prices change daily whether the split takes place or not).  

4 0
2 years ago
Placker Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
riadik2000 [5.3K]

Answer:

Total cost= $3,595

Explanation:

Giving the following information:

Estimated fixed overehad= $155,000

Estimated variable manufacturing overhead= $3.40 per machine-hour

Estimated machine-hours= 50,000

Job A881:

Total machine-hours 100

Direct materials $645

Direct labor cost $2,300

First, we need to calculate the predetermined overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (155,000/50,000) + 3.4

Estimated manufacturing overhead rate= $6.5

Total cost= direct material + direct labor + allocated overhead

Total cost= 645 + 2,300 + (6.5*100)

Total cost= $3,595

5 0
2 years ago
Companies. John, Lesa, and Tabir form a limited liability company. John contributes 60 percent of the capital, and Lesa and Tabi
noname [10]

Answer: The profits would be shared equally

Explanation: This is because

Since there was no agreement stating how profits would be divided,then the applicable state Limited Liability Company statute will rule. Most LLC statutes states that if members do not specify how profits are to be divided, they will be divided equally. As long as no operating agreement or LLC statute addressed the particular issue, the partnership law applys which also indicates that profits should be divided equally among the owners of a firm unless it was specified otherwise.

3 0
2 years ago
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