Answer:
a. Gordon made a gift when the real estate was purchased of <u>$450,000</u> to Fawn.
Since Gordon gave 50% of the real estate to his sister as a gift when he purchased it, the gift must be valued at the time it happened ($900,000 x 50%)
b. Gordon's estate must include <u>$2,900,000</u> as to the property.
Gordon purchased all the real estate by himself, so his estate must include the value of the whole property.
c. How would the estate tax consequences change if it was Fawn (not Gordon) who died?
Fawn's estate would include <u>$0</u> as to the property.
Since Fawn didn't buy the property, her estate cannot include any amount of it.
Answer:
The correct answer is option B.
Explanation:
Real GDP is the inflation-adjusted measure of economic growth. It measures the change in output level at a constant price. It measures changes in economic output.
Nominal GDP measures change in output level based on current prices. It is not an inflation-adjusted measure of economic growth.
Real GDP changes with a change in output level. While nominal GDP can change with change in either output level or price. So it is not necessary that a decline in real GDP is accompanied by a decline in nominal GDP.
Answer:
Decrease <u>Cash </u>and Increase <u>Expense</u>
Explanation:
Jackson Programming paid $500 as rent for the month of June.
The accounting equation is is the basis of the double entry accounting principle system. It is an equation that stipulates that the balance sheet must remain balanced meaning every entry on the debit should be followed with a corresponding credit. It also means for every decrease there should be a corresponding increase.
In Jackson Programming;
A decrease is recorded in CASH because cash was paid, while an increase is recorded in EXPENSE because there is a corresponding increase in rent expenses.
Answer:B Both do positive work, but person X does twice as old as person Y
Explanation:
It means X has put in double the efforts of Y. That for every one efforts of Y, X does two and for every two he does four etc
Answer:
d
Explanation:
considering I do not have the textbook, i cant be fully certain but I think its d. and if it's not d, then it's mostly like e. sorry for not being more helpful!
