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Leni [432]
3 years ago
6

A customer wishes to open an account to fund payment of private middle school tuition. If the customer does not wish to deposit

more than $2,000 per year and wishes to get a tax benefit, the best advice is for the customer to open a:
Business
1 answer:
Svetradugi [14.3K]3 years ago
6 0

Answer: Coverdell Education Savings Account (ESA)

Explanation:

A Coverdell Education Savings Account (ESA) is a type of Trust account created by the US Government to help families fund the educational expenses of their members who are aged 18 or below.

This account is not Taxable as the US Government wants to use it as a way to encourage Educational Expenditure.

The account however is limited to a maximum deposit of $2,000 per year per beneficiary and so is perfect for the customer in question.

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What should he do to get to the appropriate cell?
Agata [3.3K]

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which appropriate cell , the question is not clear

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3 years ago
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On July 4, 2018, Wyoming Mining Company purchased the mineral rights to a granite deposit for $1,600,000. It is estimated that t
kiruha [24]

Answer:

The amount of the Depletion Expense recognized for 2018 would be 240,000

Explanation:

In order to calculate the The amount of the Depletion Expense recognized for 2018, we have to calculate first the depletion expense per ton.

Hence, Depletion expense per ton = $1,600,000/400,000 = 4

Therefore, if the Depletion expense per ton is 4, and during 2018 60,000 tons of granits were sold then the Depletion expense to be recognized for 2018  will be=60,000*4

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5 0
3 years ago
How are bonds rated? how are these rating helpful to the investors?​
Lorico [155]

Answer:

Independent agencies; reliability and stability

Explanation:

Bonds are securities which help to raise funds. Bonds generally rated by independent agencies, which rate bonds based on their performance and reliability. Independent agencies forecast the future prices of bonds based on historical data. Investors highly rely on bond ratings because it helps them to identify the best investment decision. Investors usually invest in bonds which are rated higher due to their reliability and future predictions.

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3 years ago
Amounts owed to suppliers for supplies purchased on account are defined as
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The term being referred in the item above is called as "Accounts Payable". By the words being used in the term itself, it may be easily determined that this is a liability being owed to the supplier and should be payed in any terms, such as notes, check, or cash. 
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For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance.
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Accounts payable have a credit balance and will increase under credit effect and decrease under debit effect.

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Advertising expense has a debit balance and will increase in case of debit effect and decrease in case of credit effect.

c. Service Revenue

Service revenue will be credited and will increase in case of credit effect and decrease in case of debit effect.

d. Accounts Receivable

Accounts receivables will be debited and increase under debit effect and decrease under credit effect.

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Retained earnings will be credited and will increase in case of credit effect and decrease in case of debit effect.

f. Dividends

Dividends will be debited which will lead to an increase in it under debit effect and decrease under credit effect.

4 0
3 years ago
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