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Goryan [66]
3 years ago
14

Desai and Lucy divorced in 2018. Lucy has custody of their child, Andrea, and under the divorce decree Desai pays Lucy $120,000

per year. The payments must be made in cash and will cease if Lucy dies or remarries. The payments drop to $100,000 per year once Andrea reaches the age of 18. How much of the payments should Lucy include in gross income this year
Business
1 answer:
ioda3 years ago
4 0

Answer:

$100,000

Explanation:

Lucy will include $100,000 in gross income during the taxable year, Constant income of $100,000 will receive per year in any case.

In the given scenario, Desai has to pay $120,000 but if Lucy Die or remarries, he have to pay only $100,000.

So, $100,000 qualify as Lucy Gross taxable income during the year.

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natita [175]
The answer is whatever eye color your eyes because you are driving the bus. in my case, the asnwer is brown.

how about this one: a bus driver was heading down the street. He turned left at a no-left turn sign and went the wrong way down a one-way street. even though he passed right by a police officer, the police officer didn't arrest him. Why?








































































































A: The bus driver was walking. I never said that he was driving.

8 0
3 years ago
Read 2 more answers
Which of the following statements is true of Gap 3 in the GAP model?
Westkost [7]

Answer:

d. It recognizes that manufacturing and service delivery systems must execute quality specifications well.

Explanation:

GAP provides for better performance and accounting standards.

Whether manufacturing unit, or a unit of providing service, it establishes some standards which need to be complied with. Accordingly one of the standard requires the units to have quality specifications. This means that the manufacturing units along with units providing service shall not only consider for increasing their revenue, but also increase the quality provided by them.

5 0
3 years ago
Joanne owns a bakery that has been in business for over three years. Lately, she hasn't
denpristay [2]

Answer:

She shouldmove maybe 1 of the employees as manager that manages the taxes and general paperwork and give the employees what to do each week or just each shift if thats working but it doesnt seem too productive

Explanation:

7 0
3 years ago
Emporia Corporation is a lessee with a capital lease. The asset is recorded at $810,000 and has an economic life of 8 years. The
Doss [256]

Answer:

The amount of depreciation expense the lessee should record for the first year of the lease is $108,000

Explanation:

To calculate the depreciation expense for each year the first thing you have to do is to substruct from the initial value the fair value at the end fo the lease, obtaining this way the depreciable amount.

For this case it would be:

$810,000 - $270,000= $540,000

Then you have to divide the depreciable amount by the years of the term the lease.

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4 0
3 years ago
The purpose of the Splish Brothers Division is to develop a nuclear-powered aircraft. If successful, traveling delays associated
Ber [7]

Answer: Please refer to Explanation.

Explanation:

Your question was incomplete so I attached the missing details.

The Carrying Amount of the Division has to be ascertained to move forward as it is needed in calculating the loss on Impairment. It is calculated by subtracting Goodwill from the Net Assets.

= 496 - 214

= $282 million

Calculating the Loss on impairment is done by the following formula,

= Market Price - Carrying Amount of the Division (net of Goodwill) - carrying value of Goodwill

= 335 - 282 - 214

= -$161 million.

Journal Entry

DR Loss on Impairment $161 million

CR Goodwill $161 million

(To record the loss on Impairment)

8 0
3 years ago
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