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serg [7]
3 years ago
6

Roy dies and is survived by his wife, Marge. Under Roy’s will, all of his otherwise uncommitted assets pass to Marge. Based on t

he property interests listed below, determine the marital deduction allowed to Roy’s estate.
a. Timberland worth $1.2 million owned by Roy, Marge, and Amber (Marge’s sister) as equal tenants in common. Amber furnished the original purchase price.
b. Residence of Roy and Marge worth $900,000 owned by them as tenants by the entirety with right of survivorship. Roy provided the original purchase price.
c. Insurance policy on Roy’s life (maturity value of $1 million) owned by Margeand payable to her as the beneficiary.
d. Insurance policy on Roy’s life (maturity value of $500,000) owned by Roy with Marge as the designated beneficiary.
e. Distribution from a qualified pension plan of $1.6 million (Roy matched hisemployer’s contribution of $500,000) with Marge as the designated beneficiary
Business
1 answer:
tatiyna3 years ago
6 0

Answer:

Explanation:

a.) R, M and M's sister A claims equivalent tenure in timberland worth $1.2 million. Despite the fact that A completed the first price tag, military conclusion is constrained to the degree of R's offer in Timberland. So military reasoning is $0.4 million (1/3 of $1.2 million)

Therefore, R's martial deduction is $0.4 million.

b.) Living arrangement worth $900,000 is claimed by R and M as occupants by the sum with right of survivor-ship. Despite the fact that R outfitted unique buy $450,000 ($900,000/2) will be remembered for Roy's gross domain and this sum speaks to the property that is given to M for reason for martial deduction.

In this way, R's martial deduction is $450,000

c.) Insurance policy on R's life is claimed by M and payable to her as the assigned recipient. It won't be remembered for net bequest of R and arrangement measure of $1 million isn't qualified for martial deduction. This is on the grounds that, martial deduction is permitted distinctly for property that is remembered for the perished companion's gross bequest.

Therefore, R's martial deduction is $0 million

d.)Insurance policy on R's life worth $500,000 possessed by R and M as the recipient. Despite the fact that the assigned recipient for protection arrangement on R's life is M (Roy's significant other), the sum is to be remembered for R's gross domain as it is possessed by R. This sum speaks to the property that is given to M for motivations behind martial deduction

Therefore, R's martial deduction is $500 million

e.) Dissemination from qualified pension plan of $1.6 million. Whole measure of $1.6 million will be moved to R's better half and it will be qualified for martial deduction

Therefore, R's martial deduction is $1.6 million

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Why is it important to start with temporary investments that lead to permanent investments
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The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Mul
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Proportion of sales of each department.

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3 years ago
Pete the Pizza Man produced $87,000 worth of pizzas in the past year. He paid $39,000 to employees, paid $11,000 for vegetables
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Answer:

$133,000

Explanation:

We can find Pete's total contribution to GDP by adding up the following numbers:

$87,000 worth of pizzas - because finished goods are part of GDP

$39,000 paid to employees - because wages are part of GDP

$5,000 paid in taxes - taxes are part of GDP because they are government revenue

$2,000 of inventories at the end of year - end-of-year inventories are included in GDP

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5 0
3 years ago
Suppose that Larimer Company sells a product for $24. Unit costs are as follows:
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Answer:

Unitary variable cost= $8.08

Contribution margin= $15.92

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Giving the following information:

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Variable factory overhead 1.00

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Contribution margin= 24 - 8.08= $15.92

6 0
3 years ago
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