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Vesnalui [34]
4 years ago
12

John and Joan are married and want to make cash gifts to their children (2), their children's spouses (2), and their grandchildr

en (4). On December 31, 2018, they gift $15,000 to each child, each spouse of each child, and to each grandchild. How much is subject to gift tax on which tax will actually be paid?
$15,000.00
None of the other choices are correct
$0.00
$240,000.00
$480,000.00
Business
1 answer:
IgorLugansk [536]4 years ago
3 0

The answer is $0.00 (third option).

Explanation:

During the year of 2018, the annual exclusion of both federal and state tax to cash gifts was up to $15,000 per individual. <em>Annual exclusion</em> means that there's up to a certain amount of money that can be gifted without being taxable. In this case, John and Joan's cash gift falls within the limit.

When couples gift money to their family members, the limit is precisely $15,000 per relative, individually; meaning the can gift up to a total of $60,000 without being subject to gift tax.

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You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cas
Triss [41]

Answer:

The correct answer is $1,800,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

Net working Capital = Current Assets - Current Liabilities

Where,

Current Assets = cash and marketable securities + accounts receivable + inventory

Current Assets = $400,000 + $1,200,000 + $2,100,000 = $3,700,000

And Current Liabilities = accrued wages and taxes + accounts payable + notes payable

Current Liabilities  = $500,000 + $800,000 + $600,000 = $1,900,000

So, Net Working Capital = $3,700,000 - $1,900,000

= $1,800,000

8 0
3 years ago
You examine the balance sheet of an insurance company and note that its assets are made up mainly of U.S. Treasury bills and com
Crazy boy [7]

Answer:

It is more likely to be the balance sheet of a property and casualty insurance company.

Explanation:

7 0
3 years ago
A customer of a bank is skiing at her favorite ski resort. As she is riding the ski lift, her cell phone dings with a text remin
rodikova [14]

Answer:

The correct answer is the option B: It is mobile and portable.

Explanation:

To begin with, nowadays the digital marketing is considered to be part of the marketing itself as an integrated point of it whose main purpose is to aim for the target audience through digital channels such as the social medias and the web pages. Therefore that this strategy comes with the attribute of being mobile and portable due to the fact that most of the new technologies are now sharing that characteristic and so the new generations are so used to it that it will turn out impossible for them to live without tecnology. So that is why that the best attribute that is ilustrated in the example shown is the mobile and portable characteristics of the digital marketing that strikes the customer at every place or hour.

4 0
3 years ago
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 2018. During the month, Knaus Architects completed the fo
weeeeeb [17]

Answer:

Unadjusted Trial Balance $117,590.

Explanation:

<u>Unadjusted Trial Balance of Marjorie Knaus</u> :

<u>Debit </u>

Cash 36,400

Accounts Receivable 20,600

Supplies 2,450

Prepaid Insurance 3,400

Automobiles 33,000

Equipment 10,200

Salary Expense 2,700

Blue Print Expense 1,700

Rent Expense 5,100

Automobile Expense 660

Miscellaneous Expense 1,380

Total 117,590

<u>Credit </u>

Notes Payable 25,300

Accounts Payable 7,240

Common Stock 51,000

Professional Fees 34,050

Total 117,590

4 0
3 years ago
Helga runs a website on which she sells houseplants. She also earns through pay-per-click advertising that allows search engines
Romashka [77]

Answer:

Gardening gloves

Terracotta planters

Garden scissors

Watering cans

Explanation:

In the context, Helga owns and runs a online business. She has a website where she sells online houseplants. There are various houseplants available on her site from where people can buy it and get it delivered to their house.

She also makes earnings by the advertisement of various gardening products whose add runs on her sire and she earns through a pay per click basis. Some of the products that are likely to be advertised in her website are gardening gloves, garden scissors, terracotta planters, watering cans, manures and fertilizers,etc.

6 0
4 years ago
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