1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kupik [55]
3 years ago
13

Mike has a car accident and Maria saves his life. To show his appreciation, Mike gives Maria a life estate in one of the homes h

e owns. Maria lives there for a while and then accepts a job in another state so she gives the property to her sister Jackie in a lawful transaction. Jackie owns the property until:
Business
1 answer:
jok3333 [9.3K]3 years ago
8 0

Answer:

Jackie owns the property until Maria dies

Explanation:

In this specific scenario, Jackie owns the property until Maria dies. That is because, in common law and statutory law, a life estate also known as life tenancy is defined as the ownership of land for the duration of a person's life. Therefore since Mike granted life estate to Maria and not Jackie, the land is legally Maria's to do as she wishes up until the moment of her death. Once this comes to pass the land ownership is returned to Mike.

You might be interested in
A company has sales of $375,000 and its net income is 54,250. its gross profit is $157,500. its cost of goods sold equals: a 7.6
Galina-37 [17]

Answer:

$217,500

Explanation:

We know that the

Cost of goods sold = Sales revenue - gross profit

                                = $375,000 - $157,500

                                = $217,500

To compute the cost of goods sold we deduct the gross profit from the sales revenue so that the cost of goods sold can come.

And, the net income would be ignored

This is the answer but the same is not provided in the given options

6 0
3 years ago
State 5 advantage and 5 disadvantages of trade unions.
Nady [450]

Answer:

5 advantages/ higher wages, better benefits, your representatives, fair pay, better environment

Explanation:

5 disadvantages/ high labor cost, law suits, abritrations, and members can legally strike

3 0
3 years ago
A manager is holding a $1.2 million stock portfolio with a beta of 1.01. She would like to hedge the risk of the portfolio using
garri49 [273]

Answer: $1,212,000 or $1.212 million

Explanation:

To calculate the dollars’ worth of the index the manager should sell in the futures market to minimize the volatility of her position, we can use the following formula,

Dollar worth of index to sell = Value of the Portfolio * Portfolio Beta

Dollar worth of index to sell = 1,200,000 * 1.01

Dollar worth of index to sell = $1,212,000

The manager should sell $1,212,000 worth of the index in the futures market to minimize the volatility of her position.

5 0
3 years ago
Tom transfers a building that originally cost $40,000 to Paul Corp. in exchange for 100% of the corporation's stock. the adjuste
Korolek [52]

Answer:

Gain recognized by Tom is $10000

So option (b) will be correct answer

Explanation :

We have given liability on bulding assumed by Paul Corp = $30,000

Tom's adjusted basis in the building = $20,000

Since the liability assumed by Paul Corp on the building is greater than Tom's adjusted basis, Tom must recognize gain equal to the difference between the liability on the building and his adjusted basis.

So gain recognized by Tom = $30,000 - $20,000 = $10,000

4 0
3 years ago
Below is the complete list of accounts of Sooner Company and the related balance at the end of April. All accounts have their no
allochka39001 [22]

Answer:

                                           Trial Balance

                                                     <u>Debit</u>               <u>Credit</u>

Land                                             53000

Accounts Receivable                  5400

Cash                                              3200

Prepaid Rent                                6700

Accounts Payable                                                 3600

Deferred revenue                                                  1950

Common Stock                                                      33000

Retained earnings                                                 21250

Service Revenue                                                   24700

Salaries expense                          7500

Supplies expense                       <u>  8700  </u>            <u>              </u>

Totals                                            84500               84500                    

Explanation:

The trial balance has been made in the answer section.

3 0
2 years ago
Other questions:
  • A large bureaucratic organization is about to undertake a massive change in the way they do business. These changes will include
    14·1 answer
  • What effect will a low economic growth have on the country
    13·1 answer
  • If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 t
    9·1 answer
  • The first step in the human resources planning process is to: a. assess future labor demand. b. prepare a forecast of human reso
    14·1 answer
  • What is the main goal of the creation of the federal budget?
    8·1 answer
  • On June 1, Baby Raising Magazine collected cash of $63,000 on future annual subscriptions starting on July t 1. Journalize the t
    7·1 answer
  • When compared to static budgets, flexible budgets: a.encourage managers to use less fixed cost items and more variable cost item
    13·2 answers
  • A low-risk investment might have a high price if
    6·1 answer
  • The following data are given for Stringer Company: Budgeted production 967 units Actual production 1,021 units Materials: Standa
    13·1 answer
  • What is the difference between charismatic leadership and transformational leadership?
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!