Answer:
Answer is $15,000
$6,000 share of ordinary income plus $9,000 gain for a $50,000 distribution in excess of her $41,000 stock basis.
Answer:
An automatic stay against creditors. Once you file, the court automatically issues this stay against any and all debt collection activity.
Dischargeable debts.
Bankruptcy exemptions might allow you to maintain ownership of your property after bankruptcy.
Credit Score.
Question Completion with Options:
2.5 percentage points
1.5 percentage points
3.5 percentage points
6.5 percentage points
Answer:
Sandra's creditor must determine if the APR for the loan exceeds the average prime offer rate by:
1.5 percentage points
Explanation:
The first mortgage loan principal should not exceed the conforming loan limit for the area where Sandra lives at the time that she secures the loan approval. It behooves on Sandra’s creditor to determine if the annual percentage rate (APR) for the mortgage loan exceeds the average prime offer rate (or the sample rate that is a representative of the APRs charged by creditors for mortgage loans that have low-risk pricing characteristics) by 1.5 percentage points.
Answer:
Value of scholarship today = $30,484.90
Explanation:
The value of the Scholarship is the present value of the annual payment of $9,000 discounted as the annual interest rate of 7% per annum.
This can be computed using the formula below
Present Value = Annual cash flow × (1- (1+r)^(-n)/r)
n -number of years, r-interest rate
rate r- 7%, n=4, Annual cash flow = 9,000
Present Value = 9,000× (1-1.07^-4)/0.07
= 9,000× 3.3872
= $30,484.90
Value of scholarship today = $30,484.90
Answer:
The Bad Debt expense will be in year 1;
Explanation:
The Bad Debt Expense $45,000*1%=$450
The journal entry will be
Bad Debt Expense Dr.$450
Account Receivable Cr.$450
