Answer:
fair market value
Explanation:
The current estate tax (2020) only applies for estates worth over $11.58 million. For taxation purposes, estates are taxed at fair market value. E.g. Rudy bought a building 10 years ago at $10 million, but it is now worth $15 million, the current market value ($15 million) will be used to determine any applicable estate taxes.
Answer:
Revised balance = $8000
Explanation:
Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $ 150 comma 000, and management estimates 4% will be uncollectible.
Milo Company's balance of Allowance for Uncollectible Accounts after adjustments, was $ 5 comma 000.
The following year, Milo Company wrote off $ 3 comma 000 of old receivables as uncollectible.
The Allowance account balance now will be:
Amount of Uncollectible Accounts for the year = 4% x $150,000 = $6000
Previous balance is $5,000 less amount written off $3000 = $2000
Revised balance = $6,000 + $2000 which is $8000
Answer:
Christopher is an Employee
Explanation:
1) Christopher is an Employee because he is been paid a flat rate regardless of the amount of work he puts in, also he is directly supervised, has an office in AAA and also he must put in 10 hours of work per week
2) Factors that makes a worker an independent contractor or an Employee includes
- level of instruction; If the company or its representative directs the worker on how, when and where a job can be done this indicates that the worker is an employee
- work schedule: An independent contractor is totally in control of his time and determines the amount of hours to put in but if the work schedule is determined by the company then it will be an employee arrangement
- form of payment ; Hourly, weekly and monthly payments are mostly used for employees ,most independent contractors collect their pay once a task is completed by them
- profit or loss : Employees do not share in the profit or loss of the organization since they are paid a flat rate.
A place by which an average viewer is likely to be exposed
to an avant-garde cinema or at least its influence is in commercials. Commercials
are defined as something that is being showed or viewed in radio advertisement or
television by which it emphasizes a message that can be done through acting or
any sort of activity that promotes something.
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Answer:
his investment will be worth $39,944 at the end of 12 years.
Explanation:
FV = PV(1 + i)^n
= $4,700 + $4,700*PVAF(7%,11 years)
= $4,700 + $4,700*7.49867
= $4,700 + $35,244
= $39,944
Therefore, his investment will be worth $39,944 at the end of 12 years.