Answer:
d) as a current liability
Explanation:
Current Liabilities are those liabilities which are payable within one years time e.g trade payable, tax payable etc.
The credit against the purchase of inventory is classified as the trade payable and it is paid in a short time, so it will be reported on the balance sheet in current liability section.
Answer:
She needs $150,000 to fund this perpetuity.
Explanation:
In this question we need to find the present value of this perpetuity. Because this is a growing perpetuity we will need to use the formula of present value of a growing perpetuity.
PV of growing perpetuity = Payment/ R-G
The payment is the current payment the perpetuity will pay which is 6,000, R is the interest rate which is 10% and G is the growth rate of the perpetuity which is 6%. Now we will input these values in the formula in order to find the present value of the perpetuity.
6,000/0.1-0.06
=6,000/0.04
=150,000
Answer:
It will be reported as gain.
Explanation:
If the fair value of the net identifiable assets acquired exceeds the fair value of the consideration given (purchase cost) will be a <u>negative goodwill.</u>
It will be due to <em>"bargain purchase"</em> and the accounting records the "negative goodwill" as a gain in the income statment
Answer:
The monthly deposit is calculated using PMT function :
rate = 1.2%/2 (converting annual rate into monthly rate)
nper = 12 * 5 (5 years of deposits with 12 monthly deposits each year)
pv = -3200 (Amount put into account now. This is entered with a negative sign because it is a cash outflow)
fv = 26865 (Required value of account after 5 years)
PMT is calculated to be $379.70.
The monthly deposit is $379.70.
The gross value of qualifying property left to the surviving spouse is included in the marital deduction. This is not a requirement of the unlimited marital deduction.
Hence, option D is the correct answer.
Unlimited marital deduction is a clause that enables a person to give their spouse limitless property at any time. This clause belongs to the federal estate of the United States. No limitation on the transfer of property is imposed.
There is no requirement for the gross value of the property that is kept for the surviving spouse under the unlimited marital deduction.
Option a is wrong because a husband and wife must be married in order to qualify for the unlimited marital deduction, this choice is incorrect.
Option b is improper since the property should be passed to the spouse through real estate under unlimited marital deductions.
Option c is erroneous because, in order to qualify for the unlimited marital deduction, the surviving spouse must be a citizen of the United States.
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