1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vlada-n [284]
3 years ago
11

Ted dies with assets consisting only of long-term investments. He leaves $5,000,000 to his children and the remainder to his wif

e. His basis in the investments is $5,000,000; his date of death value is $9,500, 000, and the six-month alternate valuation value is $10,700,000. What is the income tax basis of the investments if his family sells the assets?
A. $5,000, 000
B. $9,500,000
C. $10,700,000
Business
1 answer:
WITCHER [35]3 years ago
3 0

Answer:

B) $9,500, 000

Explanation:

The tax basis for Ted's estate is $9,500,000, ans since it falls under the current federal estate tax exemption($11,400,000), his wife and children do not have to pay any estate taxes.  If Ted's family sells the assets before the six month alternate valuation is effective, then their tax basis will be the same as Ted's estate ($9,500,000).

You might be interested in
Suppose that a cafe enjoys a large increase in customers whenever the jazz club next door features a band playing appealing musi
Stells [14]

Answer:

The answer is "Option 2".

Explanation:

please find the complete question in the attached file.

When a person does have an advantage for many other people’s perspectives, the additional factor is optimistic. The jazz club manager decides to purchase the cafe so that he can truly understand it. It can be accomplished through the integration of various business types. It a single individual formulates from of the situation Strong exogenous shock through the convergence of multiple business forms.

4 0
3 years ago
_____________- is a cultural orientation in which people belong to loose social frameworks and their primary concern is for them
Nat2105 [25]

Answer:

c. Individualism

Explanation:

Individualism -

It refers to the type of inclination toward an individual in terms of social, or ideology outlook , political philosophy and moral stance , is referred to as individualism .

These type of people lives by only one type of goal and desire .

And , these people tends to divert their mind towards their family and children rather than the society .

Hence, from the given statement of the question,

The correct term is individualism.

6 0
3 years ago
Enumerate 5 ways to handle cash in accounting
V125BC [204]

Explanation:

make a list of items in top priority

enumerate the most important

5 0
3 years ago
Julie Convenience Store sold merchandise for cash to a customer, and recorded a debit to Cash for $371, which included a 6% Sale
nlexa [21]

Answer:

C) credit Sales Tax Payable for $21

Explanation:

Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:

First step is to calculate the sales tax element

Sales tax element = $371*6/106

Sales tax element= $21

Now let calculate what the Price exclusive of sales tax would be

Price exclusive of sales tax=$371-$21

Price exclusive of sales tax= $350

The correct journal entry should be:

Dr Cash $371

Cr Sales revenue $350

($371-$21)

Cr Sales tax payable $21

3 0
3 years ago
Fiona found that she had broken even when she sold 120 boxes of her homemade chocolate chip cookies. The rent for her bakery (pa
Maslowich

Answer:

$0.5 per box

Explanation:

From CVP analysis,

The break-even point = Fixed cost/contribution margin per unit

For Fiona

Break-even point =$120 boxes, fixed costs = $300

Contribution margin per init = selling price - variable costs

selling price =$5: variable costs, cookies cost $2 per box, and chocolate chips

therefore

120 = $300/ Contribution margin per unit

$120 = $300/ CM

CM = $300/$120

CM = $2.5

Contribution margin = selling price - variable costs

$2.5 = $5- cookies - chocolate chips

$2.5 =$5 - $2- chocolate chips

$2.5 -$3-chocolate

chocolate chips = $3-$2.5

=$0.5 per box

5 0
3 years ago
Read 2 more answers
Other questions:
  • Your financial institution can’t help you if there is a mistake on your bank account statement ?
    5·2 answers
  • 3.63 cubic yards + 1.53 cubic yards
    5·1 answer
  • An investment adviser structured as a partnership lends money to a customer to buy recommended securities. Under NASAA's Model R
    6·1 answer
  • In the management hierarchy _____ includes managers who set the overall direction of a firm, articulating a vision, establishing
    7·1 answer
  • Olivia is ordering trendy necklaces and earrings made with semi-precious stones from a supplier in Belize, for her city boutique
    6·1 answer
  • 1. Information regarding ethnic backgrounds and household income facilitates market segmentation. A. TrueB. False2. A marketing
    9·1 answer
  • In 1679 new hamisphere was
    13·1 answer
  • Pyrdum Corporation produces metal telephone poles. In the most recent month, the company budgeted production of 3,500 poles. Act
    15·1 answer
  • McDonald's Corp has a preferred stock paying a dividend of $19 and has a market price of $178. Calculate the cost of capital for
    8·1 answer
  • Petro Roos is thinking of purchasing the business premises rather than renting it. Provide Two separate advantages and two separ
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!