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julia-pushkina [17]
3 years ago
10

Contributions to a Coverdell Education Savings Account must cease when the beneficiary reaches the age of: A 16 B 18 C 21 D 30

Business
1 answer:
Dima020 [189]3 years ago
6 0

Answer:

B) 18

Explanation:

A Coverdell Education Saving Account accepts contributions up to the 18th birthday of the beneficiary, unless the beneficiary has "special needs" (usually some type of disability).

Coverdell ESA are very similar to a 529 plan, except that the beneficiary is the owner of the funds, not the account owner. Both accounts offer tax free earnings growth and tax free withdrawals, as long as they are used to cover qualifying educational expenses.

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Treasury stock that was purchased for $2,500 is sold for $3,000. As a result of these two transactions combined, a.income will b
Fantom [35]

Answer:

The stockholder's equity will be increased by $500

Explanation:

While stockholders equity is the amount of assets available to shareholders after all liabilities have been settled , treasury stock is the stock that is bought back by the issuing organisation with the aim of reducing the number of outstanding stock in the open market.

Looking at the scenario given , it was an indirect way of raising fund and increasing the equity of the stockholders equity as the treasury stock was later resold at a higher price.

Therefore , the stockholder's equity increases by 3,000- 2500 = 500

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How is a savings account most useful
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For using $money$ in the near future but not right away.

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3 years ago
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Beginning inventory, purchases, and sales for Product XCX are as follows:
9966 [12]

Answer:

Cost of merchandise sold = $483 , Closing stock = $227

Explanation:

Perpetual inventory system includes updates done, when sale or purchase transaction happens

Opening Stock = 26 units (price 15). Value = 26 x 15 = 390

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Purchase = 20 units (price 16). Value = 20 x 16 = 320

Sale = 18 units, price 16. So, sales cost value = 18 x 16 = 288

Total sales cost value, or cost of merchandise sold = 195 + 288 = 483

Closing stock = Opening stock + purchase - sales cost

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4 0
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Portions of the financial statements for Alliance Technologies are provided below. Alliance Technologies Income Statement For th
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Answer:

Net cash flow from Operating activities  $       97,000.00

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3 years ago
The 1998 fda regulations for requiring disclosure of significant financial interest reflect which threshold:
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Any equity enthusiasm toward An publicly held organization that surpasses $50,000. FDA regulations<span> are based on the laws set forth in the Tobacco Control Act and the Food, Drug, and Cosmetic Act (FD&C Act). FDA regulations are also federal laws.</span>

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