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elixir [45]
3 years ago
5

A parcel of real estate has been left to a spouse through her husband's will for the wife's use and enjoyment during her lifetim

e, with the provision that the property go to the wife's stepson at her death. what interest does the stepson hold?
Business
1 answer:
grigory [225]3 years ago
5 0
The answer to the given question above would be the REMAINDERMAN. The interest that the stepson holds here is the third party fee simple ownership. The remainderman here refers to the stepson in which he is the one entitled to inherit the property left by the wife. Hope this helps.
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If aggregate quantity demanded is greater than aggregate quantity supplied at a particular price level, then
natta225 [31]

Answer:

Shortage

Explanation:

Then it is a situation of shortage because when there is more demand but supply is less then the difference between the demand and supply is called the shortage. Thus, excess demand over supply creates the shortage in the market.

8 0
3 years ago
What the Business ethics<br> About USA
AlexFokin [52]

Answer:

General professional conduct, social values, anti-discrimination, fair labor standards, financial responsibility and honest marketing.

6 0
2 years ago
The December 31, 2020 balance sheet of Barone Company had Accounts Receivable of $400,000 and a credit balance in Allowance for
sergey [27]

Barone Company

General Journal for 2020 transactions:

Debit Accounts Receivable $1,500,000

Credit Sales Revenue $1,500,000

To record sales on account:

Debit Sales Returns $50,000

Credit Accounts Receivable $50,000

To record sales returns and allowances:

Debit Cash Account $1,250,000

Credit Accounts Receivable $1,250,000

To record cash collections from customers:

Debit Allowance for Doubtful Accounts $36,000

Credit Accounts Receivable $36,000

To record uncollectible written-off.

Debit Accounts Receivable $6,000

Credit Allowance for Doubtful Accounts $6,000

To reinstate previously written off accounts.

Debit Cash Account $6,000

Credit Accounts Receivable $6,000

To record collection of previous write-off.

Adjusting Entry at December 31, 2020:

B. Using 3% of net sales:

Debit Bad Debt Expense $41,500

Credit Allowance for Doubtful Accounts $41,500

To record bad debt expense.

C. Using 8% of Receivables:

Debit Bad Debt Expense $43,120

Credit Allowance for Doubtful Accounts $43,1`20

To record bad debt expense.

D. 3% of net sales produces a higher net income and by $1,620

Simplification:

1. Accounts Receivable

Beginning balance (debit) = $400,000

Sales                                     1,500,000

Sales Returns & allowances   (50,000)

Cash Collections                (1,250,000)

Uncollected write-off            (36,000)

Reinstatement of write-off       6,000

Cash Collection                       (6,000)

Ending balance                  $564,000

2. Allowance for Doubtful Accounts

Beginning balance (Credit)   $32,000

Uncollectible write-off            (36,000)

Reinstatement of write-off        6,000

Balance pre-year adjustment $2,000

Using 3% of net sales

Bad debt expense                 $41,500

Ending balance (credit)        $43,500

Balance pre-year adjustment $2,000

Using 8% of receivable balance

Bad debt expense                 $43,120

Ending balance (credit)        $45,120

3. Allowance for Doubtful Accounts (Ending balance)

3% of net sales = $1,450,000 x 3% = $43,500

8% of receivables = $564,000 x8% = $45,120

What Is a Bad Debt Expense?

A bad debt expense is recognized when a receivable is no longer collectible because a customer is unable to fulfill their obligation to pay an outstanding debt due to bankruptcy or other financial problems.

Learn more about bad debt expenses:

brainly.com/question/18568784

#SPJ4

6 0
1 year ago
The story discussing an experiment where a bell was rung, a dog was served food, and (Pavlov's) dogs salivated illustrates:Learn
Setler79 [48]

Answer:

True

Explanation:

Classical conditioning is mode or form of learning in which a conditioned stimulus becomes related to an unrelated and unconditioned stimulus to produce a type of behavioral response called conditioned response.

A buzzer sound and feeding are not in any way related but the training of dogs by Pavlov to make sure that every time the buzzer goes of, they knnow its time to feed shows the association of a conditioned stimulus (feeding) with an unconnected and unconditioned stimulus (buzzer sound).

Cheers

5 0
3 years ago
Mira Mesa Appliances makes and sells kitchen equipment for offices and hotel rooms. Mira Mesa management believes that a new mod
lys-0071 [83]

Answer:

$126

Explanation:

We can calculate the amount Mira can pay for the synthetic material per unit (refrigerator) and meet its profitability goal by deducting the estimated profit and then all the cost from the selling price per unit.

Selling price per unit                                        $260

Less

estimated return (260x30%) =                    ($78)

Labor costs                                                    ($32)

Overhead costs                                            ($24)

Material                                                              $126      

Amount Mira can pay for Synthetic material per unit is $126

               

6 0
2 years ago
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