I do believe that gifts to a spouse are exempt from any gift tax. So $0 is taxable.
The answer is b I’m pretty sure
Answer:
The Balance of stockholder's equity at December 31 Year 3 is $180000.
Explanation:
The basic accounting equation states that Assets are always equal to the sum of Liabilties and Equity.
Thus, the equation can be written as:
Assets = Liabilities + Equity
The libilities at the start of the year were,
330000 = Liabilities + 146000
Liabilities = 330000 - 146000 = $184000
If Liabilities at the end were 16000 less than at start, Closing balance of Liabilities will be 184000 - 16000 = $168000
The Closing balance of assets will be 330000 + 18000 = $ 348000
The closing balance of Stockholder's equity at Dec 31 Year 3 is:
348000 = 168000 + Equity
Equity = 348000 - 168000 = $180000
Answer:
Seller Janet delivers a disclosure statement to Buyer Amanda. Amanda reads it over and decides everything looks good enough to continue with the purchase. A few weeks later, a major hail storm damages the roof and now it leaks. The original disclosure is no longer accurate and the statement which is false:
- Amanda can require Janet to replace the roof.
Explanation:
- Amanda can not require Janet to replace the roof as it was not mentioned in the disclosure statement. The things she can ask the Janet to do are:
- Janet should amend the disclosure statement and deliver it to Amanda.
- Janet can correct the damage to the roof and tell Amanda nothing.
- Amanda can rescind the purchase agreement within three business days after she receives an amended disclosure.
Answer:
lump sum= 19,925
Explanation:
Giving the following information:
To join an upscale country club, an individual must first purchase a membership bond for $30,000. In addition, monthly membership dues are $250. Suppose an individual wants to put aside a lump sum of money now to pay for her basic country club membership expenses (including the $30,000 bond) over the next 30 years. She can earn an APR of 6%, compounded monthly, on her investments.
First, we need to calculate the total amount of money needed:
Final value= 30,000 + 250*12*30= 120,000
Now, we need to use the following formula:
PV= FV/(1+i)^n= 120,000/1.005^360= 19,925
