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notsponge [240]
3 years ago
11

In a community property state, John marries Patricia. Prior to the marriage John owned an SUV. During the marriage, John bought

a Buick, John and Patricia bought a second property with money earned from Patricia's job, and each individual received a motorcycle from Patricia's uncle as a gift. What property is community property in this marriage?
Business
1 answer:
vazorg [7]3 years ago
5 0

Answer:

The Buick and the second property.

Explanation:

The community property law states that income earned by either of spouse during the marriage or all the property purchased with those income during the marriage are equally owned by both husband and wife. These income and property are considered as community property.

Community property law distinguishes real and personal property into categories of separate and community property. Separate property belongs to one spouse; community property belongs to both spouses equally. Separate property is that property which is acquired prior to the marriage, by gift or inheritance.

Similarly, during the marriage debt is also equally shared by the spouse.

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List some ways (at least two (2)) to get money INTO your checking account.
alina1380 [7]
Go to work, and cash your check.
Explanation:
Once you get money by working you need to go cash your check then you are able to get money into your checking account.
5 0
3 years ago
Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7. 96% sales tax, a $2,138 veh
charle [14.2K]

The down payment that would be paid by reg is $2,800.

<h3 /><h3>What is a down payment?</h3>

A down payment is the first partial payment for the purchase of price expensive items or services, such as a car or a house. It is usually paid off in cash or equal at the time of finalizing the transaction. A loan of some kind is then asked to finance the remainder of the payment.

<u>Computation </u><u>of a down Payment:</u>

<u />

According to the question,

The total amount of car would be:

\text{List Price + Sales Tax + Registration Fee + Documentation Fee}\\\\\$22,499+\$1,791+\$2,138+\$262 = \$26,690.

r= 10.27%,

r=\dfrac{10.27}{12\times100}\\\\\\r= 0.00855833 ,

t= 12\times3\text{Years}=36 \text{Months}.

Monthly Payment = $773.89.

Let X be the amount of payment that is given in the starting.

\text{Monthly Payment} = \dfrac{\text{(List Price - x) r }}{1-(1+r)}}\\\\\\\$773.89 = \dfrac{(22,49-\text{x )0.0085533}}{1-(1+0.0085533)}\\\\\text{x}=$23889.84

The amount of down payment would be:

\text{Down Payment}=\text{Total Amount - Down Payment}\\\\\\\text{Down Payment}=\$26,690-\$23889.84\\\\\text{Down Payment}=\$2,801 \text{App.}

Hence, Option D is correct.

Learn more about the down payment, refer:

brainly.com/question/1114543

<u />

5 0
2 years ago
At the end of Year 2, retained earnings for the Baker Company was $3,350. Revenue earned by the company in Year 2 was $3,600, ex
garik1379 [7]

Answer:

Retained earnings at the beginning of Year 2 is $2,950.

Explanation:

Given the following:

Retained earnings at the end of Year 2 = $3,350

Revenue earned by the company in Year 2 = $3,600

Expenses paid during the period = $1,900

Dividends paid during the period = $1,300

Retained earning for year 2 = Revenue earned by the company in Year 2 - Expenses paid during the period - Dividends paid during the period = $3,600 - $1,900 - $1,300 = $400

Retained earnings at the beginning of Year 2 can be using the following formula:

Retained earnings at the end of Year 2 = Retained earnings at the beginning of Year 2 + Retained earning for year 2 .......... (1)

Substituting the values into equation (1) and sole for Retained earnings at the beginning of Year 2, we have:

$3,350 = Retained earnings at the beginning of Year 2 + $400

Retained earnings at the beginning of Year 2 = $3,350 - $400 = $2,950

Therefore, retained earnings at the beginning of Year 2 is $2,950.

5 0
3 years ago
Paris operates a talent agency as a sole proprietorship,and this year she incurred the following expenses in operating her talen
Juliette [100K]

Answer:

A) $450.

Explanation:

The computation of the total deductible amount of the expenses is as follows:

In the case of the deduction with respect to the meal cost and entertainment. Only the half of the expense would be deducted i.e. for the business meeting

As in the question the opera tickets is $900 so the half of $900 i.e. $450 would be allowed as a deduction

Therefore the correct option is A.

6 0
3 years ago
Peng Company is considering an investment expected to generate an average net income after taxes of $3,300 for three years.
nikdorinn [45]

Answer:

3482.12

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow = net income + depreciation = 16,200 + 3300 = 35,700

($56,100 - $7500) / 3 = 16,200

Cash flow in year 0 = 56,100

cash flow in year 1 and 2 = 35700

cash flow in year 3 = 35,700 + 7500

i = 5%

NPV =

3 0
3 years ago
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