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balu736 [363]
2 years ago
8

A wealthy individual has set up a grat. should she die during the time the trust is active, how are the remaining assets in the

trust taxed?
Business
1 answer:
Leto [7]2 years ago
4 0

A wealthy individual has set up a grat. should she die during the time the trust is active, the original value plus any appreciation is taxed as part of the grantor's estate.

Taxes are mandatory contributions levied on individuals or groups through a central authority entity—whether or not neighborhood, local, or countrywide. Tax sales finance authorities sports, together with public works and offerings which includes roads and colleges, or programs including Social security and Medicare.

A tax is a mandatory fee or financial rate levied by using any authority on a man or woman or a company to accumulate revenue for public works supplying quality facilities and infrastructure. The amassed fund is then used to fund different public expenditure applications.

Learn more about tax here:brainly.com/question/26316390
#SPJ4

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If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana i
Mkey [24]

Answer:

C. Higher prices but lower total revenue from marijuana sales.

Explanation:

The above scenario totally explains inelastic demand. Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by only 1%, demand is said to be inelastic.

When the price increases, people will still purchase roughly the same amount of the good or service as they did prior to the increase because their needs stay the same. A similar situation exists when there is a decrease in price demand will not increase substantially because consumers only have a limited need for the product.

4 0
3 years ago
reonna Corporation leases equipment from Falls Company on January 1, 2020. The lease agreement does not transfer ownership, cont
ioda

Answer:

$35,000

Explanation:

Since this is an operating lease (short lease term, no transfer of ownership, and low present value of lease payments), the lessor has to record a depreciation expense, but the lessee only considers lease payments as operating costs (no depreciation expense or lease liability should be recognized).

Depreciation expense per year under the straight line method = asset cost / useful life = $280,000 / 8 years = $35,000

4 0
3 years ago
Mayo Corp. has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $600,000, and that
Vanyuwa [196]
$900,000

Depreciation for the year $600,000
Employee bonuses $1,200,000
Total expenses for the year 1,800,000
Expenses to be reported in interim income statement 1,800,000=$900,000
3 0
2 years ago
mark and kate are establsihing a fund for their son's college education. what lump sum must they deposit in an account that give
Elan Coil [88]

Answer:

$51,608.69

Explanation:

Given that

Interest rate = 5%

Future value = $85,000

Time period = 10 years

So by considering the above information, the Present value is

= Future value ÷ (1 + interest rate)^time period

where,

Future value = $85,000

Interest rate = 5% ÷ 12 months = 0.4166%

Time period = 10 years × 12 months = 120 months

Now the present value is

= $85,000 ÷ (1 + 0.4166%)^120

= $51,608.69

8 0
3 years ago
World Company expects to operate at 80% of its productive capacity of 67,500 units per month. At this planned level, the company
scoray [572]

Answer:

1. $3,780 Unfavorable

2. $453,600 Overhead controllable variance

Explanation:

Req. 1

Fixed Overhead Applied

Fixed OH per DL hr. ($68,040 ÷ $32,400) = 2.1

Standard DL hours = 0.60 * $51,000 = $30,600

Fixed OH applied = 2.1 * $30,600 = $64,260

Volume variance.

Total fixed OH applied $64,260

Total budgeted fixed OH $68,040

Fixed OH volume variance $3,780 Unfavorable

Req. 2

Overhead controllable variance.

Total actual overhead $ 472,000

Flexible budget overhead

Variable = $408,240 ÷ $32,400 = 12.6

=> $30,600 * 12.6 = $385,560

Fixed. $68,040

Total $453,600 Overhead controllable variance

6 0
3 years ago
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