Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
As per §117(b)(2) a qualified scholarship that is solely used for qualified tuition and related expenses like fees, books and supplies that is necessary for such course in which admission is taken, related tuition fees and associated expenses are not taxable.
On the other side expenses on rooms and boarding are not qualified expenses so any amount spent on it is fully taxable. Another condition is that scholarship given should not be an exchange of service.
<em>You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly. </em>
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Answer:
10.29%
Explanation:
Rule of 72 can be defined as a metric used to determine the time it will take to double an investment based on its growth rate.
To find the interest rate Kari must receive for her investment to double in 7 years, we would use the Rule of 72;
Rule of 72 = 72/7
Rule of 72 = 10.29%
Therefore, Kari must receive an interest rate of 10.29% for her investment to double in 7 years.
Answer:
Breach of Contract
Explanation:
If a contract was signed that promised a job/salary, then rescinding the job by the prospective employer is grounds for a "Breach of Contract" lawsuit.
Answer:
D. Check written for $ 59 but recorded by the Company as $ 95
Explanation:
The correct choice is D since a check written at a higher than the correct amount has to be adjusted by adding the differential amount to the balance per books.
The options B and C are errors by the bank and thus would need to be adjusted on the bank side of the bank reconciliation.
The option A refers to a check value erroneously understated in the balance per books and this would require a deduction on the balance per books.
Answer:
$80
Explanation:
The computation of the price of preferred stock to sell is shown below:
Cost of preferred stock = Annual dividend ÷ required return on the preferred stock
= $5 ÷ 6.25%
= $80
Simply we divide the annual dividend by the required return on the preferred stock so that the correct price of preferred stock to sell can be computed
