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Katarina [22]
3 years ago
8

Last year Susana's mother, Maria, suffered from a heart attack and is no longer capable of caring for herself. Maria made arrang

ements with her attorney to have all her property sold and placed in an account to help Susana care for her. Maria then moved into Susana's home. Susana and her husband, Ramon, will now financially support and care for Maria. For Susana and Ramon's income tax purposes, Maria is considered to be a(n) ____.
Business
1 answer:
andrezito [222]3 years ago
3 0

Answer:

Maria is considered to be an Dependent.

Explanation:

  • An individual who varies depending on someone or something for help, support, favor, etc., a kid, a wife, a family member or some comparative to whom one adds value all or a significant amount of the required financial assistance,called dependent person.

According to TAX rules:

  • A dependent is a non-taxpayer or partner which entitles the taxpayer to claim an exemption from dependency.
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Your firm (an Australian firm) makes a sale to a Japanese customer.  The sale price is 200 million Japanese Yen payable in exact
charle [14.2K]

Answer:

An Australian Firm Selling to a Japanese Customer

a) Direct Quote of the Exchange Rate between Australian Dollar and Japanese Yen:

A$ 1 = ¥90

Meaning 1 Australian Dollar = 90 Japanese Yen.

Therefore, the price of the goods would be A$ 2,222,222.22222 (¥200 million)/ ¥90

b)Theoretical Current Forward Exchange Rate, quoted in terms of JPY/AUD for delivery in three months:

= Spot Rate x (1 + Japanese Interest Rate) / (1 + Australian Interest Rate) x 360/90

= ¥90 x (1 +0.005) / (1 +0.03) x 360/90 = ¥90 x 1.005/1.03 x 360/90

= ¥351.26214 =A$1

c) The Australian firm can take advantage of any decreases in the exchange rate and also ensure that it receives at least Australian $2 million by entering into a Currency Forwards Contract.

d) If the spot exchange rate in 3 month's time is:

(i) AUD/JPY=150, the outcome of the hedging with a Currency Forwards Contract to get at least A$ 2 million would be the gain of:

Forward Exchange outcome in Australian Dollars = ¥200 million/ ¥150 =

A$ 1,333,333.33333

Hedging outcome minus Forward Exchange outcome

A$2 million - A$ 1,333,333.33333 = A$666,666.66667

(ii) AUD/JPY = 50, the outcome of the hedging with a Currency Forwards Contract to get at least A$ 2 million would be the loss of:

Forward  Exchange outcome =  in Australian Dollars = ¥200 million/ ¥50 =

A$4 million

Hedging outcome minus Forward Exchange outcome

A$2 million - $4 million = -A$2million

Explanation:

a) Currency forwards contracts and future contracts are used to hedge the currency risk. For example, a company expecting to receive  ¥200 million in 90 days, can enter into a forward contract to deliver the  ¥200 million and receive equivalent Australian dollars in 90 days at an exchange rate specified today.

b) If A$ 1 = ¥90

Therefore, the price of the goods would be A$ 2,222,222.22222 (¥200 million)/ ¥90 in Australian Dollars.

5 0
3 years ago
"Which of the following are covered under the Securities Exchange Act of 1934? I Registration of new issues II Stabilization of
OleMash [197]

Answer: II. stabilization of new issues

III. registration of exchanges

IV. registration of broker-dealers

Explanation:

The Securities Exchange Act of 1934 was put in place in order to be in charge of security trading.

From the options, those that are covered under the Securities Exchange Act of 1934 include the stabilization of new issues, the registration of exchanges and the registration of broker/dealers.

It should be noted that the Securities Exchange Act of 1934 does not cover the registration of new issues.

6 0
3 years ago
One of your employees has performed well this year. At performance appraisal time, she asks you about how raise and bonus amount
mr Goodwill [35]

Answer:

The best method of distributing the resources is Equity.

Explanation:

Under the equity method of distribution, the resources are paid on the basis of their performance. This method focuses on the performance of the employees. More the hard work more will be the bonus. It is a fair method of distribution of resources.

5 0
3 years ago
On May 3, 2017, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2017, and carries a 6.86% inter
Semmy [17]

Answer:

704076 $

Explanation:

Exact statement of the question is:

<em>May 3, 2007, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2007, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)</em>

Solution:

Fro 3rd May to October 1st. 2017 there are 151 days

But 365 days = 1 year

==> 151 days = 151× 1/365 =0.414 years

But we use 1 year as one term

==> 1year = 1T

==>  T = 0.414

R= 6.86

P= 685000

A=?

We use formula for the term:

A= P(1+ \frac{R}{100} )^{T}

Where A= ammount at the end of term

P= Loan amount

R= Rate of interest

T= No. of terms

Putting values in this formula;

==> A= 685000×(1+\frac{6.86}{100}) ^{0.414}

==> A= 685000 × 1.02784938489=704076 $

6 0
3 years ago
Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a fisherman, and he is willin
Vlada [557]

Answer:

a) see attached image

b) Friday's slope = 1/2

c) Kwame's slope = 1/3

d) Kwame's budget line since it includes 60 fish on one side and 20 coconuts on the other.

e) Kwame is willing to pay more fish per coconut

4 0
3 years ago
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