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iVinArrow [24]
4 years ago
15

Difference between a will and a living trust

Business
1 answer:
aev [14]4 years ago
7 0

Answer:

A will gets into effect after a person dies. trust gets into effect as soon as it is created. The will covers all the property under the individual's name. Trust covers property which has been transferred in the name of the trust.

Explanation:

A will directs who will receive his property after an individual's death. It also appoints a representative to carry out the wishes of the deceased. A trust on the other hand can divide the property before, after or at death.

A will is a document through which a person expresses his wishes about how his property is to be distributed, it can also contain details regarding funeral.

A trust is an arrangement through which property of an individual is held by other individuals or institution.

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Portions of the financial statements for Peach Computer are provided below.
mamaluj [8]

Answer:

$128,100

Explanation:

PEACH Computer

Statement of cash flow using direct method for the year ended 31 December 2018.

Cash flows from operating activity

Net income. $91,000

Adjustment to reconcile net income to net cash from operations

Depreciation expense. $47,000

Changes in working capital

Decrease in accounts re. $4,200

Increase in inventory. ($18,500)

Decrease in prepaid rent $1,700

Increase in accounts Payable $6,500

Decrease in Income tax Payable ($3,800)

Net cash flow from operating activities

$128,100

4 0
4 years ago
For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the ______ Accumulated
ddd [48]

 For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the debit. Accumulated Depreciation on the credit.

Therefore, the entry that was made by the accountant, assets and stockholders' equity will be decreased.

  • Depreciation simple defined as the allocation of the cost of a long-lived, tangible asset over its useful life making an expense on the income statement that is matched against the revenue gotten by the use the asset.

The effect of recording depreciation expense on the accounting equation is that Total assets decrease and Total stockholders' equity decreases

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brainly.com/question/25573467

8 0
3 years ago
Read 2 more answers
What is the difference between investing and saving
tresset_1 [31]
Investing is when you invest or expend your money into a business, stock, etc to make money. You can always invest safely or be risky but have a chance of losing your money. Saving is when you save up you money and don’t do anything with it neither spend it or invest it.
5 0
3 years ago
Assume that each day ten thousand children watch sesame street on public television and that watching sesame street generates a
aleksandr82 [10.1K]

In the scenario in which each parent has just one child who watches sesame street, each parent has a private incentive to contribute 0% during the pledge drive. Public television is nonexcludable, which means that the free-rider problem will emerge, so every parent has an incentive to not contribute in hopes that others will. This is the reason for the 0%.

7 0
3 years ago
Which best describes what a central bank uses monetary policy to do?
Dovator [93]

Answer:

d) steer the economy away from recession and toward growth best describe what central bank uses money policy to do

Explanation:

A key role of the central banks is to conduct monetary policy so as to achieve price stability (low and stable inflation) and to aid manage economic fluctuations.

4 0
3 years ago
Read 2 more answers
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