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ankoles [38]
3 years ago
14

A married couple with 2 children and 5 grandchildren has an estate valued at $4 million. They decide to use gifts as a means to

transfer some of their wealth to their family now and lower the value of their estate.
If for a five-year period the couple gives the maximum tax-free gift to each of their children and grandchildren, the value of their estate would be reduced to:

A) $84,000. B) $420,000. C) $3,090,000. D) $3,916,000.
Business
1 answer:
muminat3 years ago
7 0

Answer:

C) $3,090,000.

Explanation:

The married couple can give to each son or daughter $26,000 per year x 2 children x 5 years = $260,000

The married couple can give to each grandson or granddaughter $26,000 per year x 5 grandchildren x 5 years = $650,000

Their total tax free gifts = $260,000 + $650,000 = $910,000, so their estate will reduce to: $4,000,000 - $910,000 = $3,090,000

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Oriole Company has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January
Solnce55 [7]

Answer:

Transaction 1

Debit : Cash  ($1,000 x 1,000) $1,000,000

Credit : Bond Payable  $1,000,000

Transaction 2

Debit : Cash  ($854,000 x 101.30%) $865,102

Credit : Bond Payable  $865,102

Transaction 3

Debit : Cash  ($281,000 x 99%) $278,190

Credit : Bond Payable  $278,190

Explanation:

On each issuance date recognize a cash inflow and a liability - Bond Payable to the extent of the amount paid on issue.

5 0
3 years ago
Suppose there are only two types of goods to consume: food and leisure. An average Californian citizen has a daily income of $10
Juliette [100K]

Answer:

Californian citizen

Explanation:

For a Californian citizen, the maximum number of meals and units of leisure they could possibly acquire per day are:

M_C = \frac{\$100}{\$20} =5\\L_C = \frac{\$100}{\$10} =10

For a Mississippi citizen, the maximum number of meals and units of leisure they could possibly acquire per day are:

M_M = \frac{\$50}{\$10} =5\\L_M = \frac{\$50}{\$10} =5

Both citizens can acquire the same number of meals, but the Californian citizen can acquire twice as many units of leisure than the Mississippi citizen. Therefore, the Californian citizen is more well-off in terms of the bundles of goods they can consume.

8 0
4 years ago
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company�s products, a football helmet for the N
ArbitrLikvidat [17]

Answer: 1: standard cost of total helmets $15,680

2:

Explanation:

See attached file

8 0
3 years ago
Quote cite and explain from a trustworthy source a summary of the Republican Party's primary
Blizzard [7]

= Closed Primaries. In general, a voter seeking to vote in a closed primary must first be a registered party member.

5 0
2 years ago
A(n) _____ is a business organization formed under federal tax law that is considered a corporation but is taxed like a partners
valentinak56 [21]

A business organization that is formed under federal tax law is the Limited Liability Company which is considered a corporation but is taxed like a partnership.

<h3>What is tax law?</h3><h3 />

There are some legal rules that are made by the higher authority, in which it is stated how much the state, local, and federal governments will apply the charge to the individual.

 

These rules are known as the tax law. Apart from the charges it also covers various things, such as procedures, policies, and penalties that are in the context of everything that has to do with tax issues.

Thus, a Limited Liability Company can be considered a corporation but is taxed like a partnership.

Learn more about Limited Liability Company from here:

brainly.com/question/18567855

#SPJ4

3 0
2 years ago
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