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
chubhunter [2.5K]
3 years ago
15

The Biltmore Trust is a simple trust. Crawford is its sole beneficiary. In thecurrent year, the trust earns $3,200 in taxable in

terest and $8,000 in tax-exempt interest. In addition, the trust recognizes a $2,500 long-term capital gain.The trustee assesses a fee of $1,800 for the year.
a. Compute trust accounting income, where the trust agreement allocates fees andcapital gains to corpus.
b. Same as (a), except that fees are allocated to income.
Business
1 answer:
Oduvanchick [21]3 years ago
4 0

Answer:

A. Trust agreement allocates fees and capital gains to corpus.

Particulars                                  Amount

Taxable interest                          $3,200

Tax-exempt interest                   $8,000

Trust accounting income          $11,200

B. When fees are allocated to income.

Particulars                                  Amount

Taxable interest                          $3,200

Tax-exempt interest                   $8,000

Less: Fees                                   ($-1,800)

Trust accounting income          $9,400

You might be interested in
The 2015 American Time Use survey contains data on how many minutes of sleep per night each of 10,900 survey participants estima
steposvetlana [31]

The population is the 10,900 respondents to the American Time Use Survey.

Explanation & Solution:

Statistics indicate that a large number of findings with similar features are related to in the population.

A sample is a subset from which it has been extracted.

"The American Time Usage survey for 2015 provides details about how many minutes of sleep every evening are assigned to each of 10,900 survey respondents.

An SRS of 100 participants (a plain random sample) has x = 514.4 minutes on average.

The size of the U.S. Time Utilization Survey is 10,900.

7 0
3 years ago
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports th
RUDIKE [14]

Answer:

The income statement, statement of stockholders' equity, and balance sheet for Longhorn Corporation is given below.

<u><em>The income statement</em></u>

Sales Revenue                   $ 67,700

COGS                                 ($ 53,400)

Delivery expenses              ($ 2,600)

Salary expenses                 ($ 5,500)

Net profit                             $ 6,200

<u><em></em></u>

<u><em>Balance Sheet</em></u>

Asset

Cash                                  $ 1,200

Equipment                        $ 29,000

Building                             $ 40,000

Supplies                             $ 3,400

Total Assets                      $ 73,600

Equity

Common Stock                $ 44,000

Retain earning                  $ 24,400

(18,200 + 6,200)

Liability

Account Payable              $ 4,400

Salaries payable                $ 8,00

Total Liabilities                 $ 73,600

<u><em>Statement of Stockholders</em></u>

Opening common Stock           $ 40,000

Addition                                       $  4,000

Closing common Stock              $  44,000

Retain earning Opening            $ 18,200

Net profit                                     $ 6,200

Retain profit Closing                   $ 24,400

Total Equity                                 $ 68,400

4 0
3 years ago
The open-economy macroeconomic model examines the determination of a. unemployment and the exchange rate. b. the output growth r
Andrei [34K]

Answer:

c. the trade balance and the exchange rate.

Explanation:

An Open Economy is an economy that allows the free inflow and outflow of goods, services, capital and people. The opposite of a closed economy.

What sets these two models apart is that in an open economy, both imports and exports are allowed, so that countries necessarily have to trade in more than one currency, so the exchange rate must be examined. In addition, business transactions are recorded in a balance of payments. So these are the two concepts that are not tried in a closed economy analysis, but are introduced in an open economy.

3 0
3 years ago
Refer to Landfall Service. Because the company is known for its ability to produce lawn furniture more efficiently than any othe
e-lub [12.9K]

The company must have absolute advantage.

Having been in business for a while, Landfall Service is a provider of outdoor furniture. Greater than any other company in the country, it is renowned for its capacity to make furniture quickly. The truth is that no rival businesses exist in any other country. Many of the items offered by Landfall Service have been exported. Actually, sales outside of the United States account for 80% of company income. In order to support domestic businesses, the Italian government has slapped a tax on imported furniture. On the other hand, because the government wanted a piece of the action, the Brazilian government levied taxes on Landfall Service items.

Learn more about Absolute Advantage Here

brainly.com/question/9067127

#SPJ10

3 0
2 years ago
Which of the following statements is false?
serious [3.7K]

Answer:

ERP systems use the same data as functional information systems.

Explanation:

At its most fundamental level, ERP software integrates these different capacities into one complete framework to streamline procedures and data over the whole organization. The focal element of all ERP frameworks is a shared database that supports multiple capacities utilized by various business units.

3 0
3 years ago
Other questions:
  • A(n)__________ is a team intentionally composed of employees from different departments of an organization.
    13·2 answers
  • If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, pho
    14·1 answer
  • A ______ is a document prepared by the organization to identify and attract the right vendors to supply software, hardware, and
    14·1 answer
  • g Suppose total output (real GDP) is $1,000 and labor productivity is $10. We can conclude that the number of worker hours must
    15·1 answer
  • Karen Moore is a new employee with Cars R Us. One of her first responsibilities as the new HR Director is to create an incentive
    9·1 answer
  • DL variances
    12·1 answer
  • Bagrov Corporation had a net decrease in cash of $10,500 for the current year. Net cash used in investing activities was $52,500
    13·1 answer
  • The chart shows a sample budget.
    12·2 answers
  • If the mpc is 0.60 and disposable income increases from $20,000 billion to $22,000 billion, consumption will increase by:_______
    12·1 answer
  • pippi, the manager of quik mart, deposits the store's receipts in its account at regional bank. as to the receipts, the relation
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!