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Stells [14]
3 years ago
7

Fred is required to pay Wilma $12,000 of alimony each year until their child turns 18. At that time, the payment will be reduced

to $10,000 per year. In year 3, in accordance with the divorce agreement, Fred paid $6,000 directiy to Wilma and $6,000 directiy to the iaw schooi Wilma is attending. What amount of the payments received in year 3 is income to Wilma? a. $6,000 b. $10,000 c. $12,000 d. $0 23
Business
1 answer:
Elan Coil [88]3 years ago
4 0

Answer:

c. $12,000

Explanation:

In this question, we assume the Fred and Wilma divorced in year i.e before 2019. Since in the question, it is given that the Fred paid $6,000 Wilma and $6,000 directly to the Law school Wilma is attending i.e not related to the child

Both payments are related to Wilma  so we consider these payments and reflects the received payment which equals to

= $6,000 + $6,000

= $12,000

All other information which is given is not relevant. Hence, ignored it

You might be interested in
Consider the following two mutually exclusive projects:Year Cash Flow (X) Cash Flow (Y)0 ?$16,400 ?$16,400 1 6,660 7,190 2 7,240
pickupchik [31]

Answer:

1a. 7.12%

b. 6.99%

2. 9.69%

Explanation:

The IRR is the discount rate that equates the after tax cash flows from an investment to the amount invested.

The IRR can be calculated using a financial calculator.

The IRR for project X :

Cash flow in year 0 = $-16,400

Cash flow in year 1 = $6,660

Cash flow in year 2 = $7240

Cash flow in year 3= $4760

IRR = 7.12%

The IRR for project Y :

Cash flow in year 0 = $-16,400

Cash flow in year 1 = $7,190

Cash flow in year 2 = $7,780

Cash flow in year 3 = $3530

IRR = 6.99%

The cross over rate is the rate that equates the cash flow from both projects.

The first step is to subtract the cash flow from project Y from the cash flow of project X

Cash flow for year 0 = $16400 - $16400 = 0

Cash flow for year 1 = $6,660 - $7,190 = $-530

Cash flow for year 2 =$7,240 -$7,780 =$-540

Cash flow for year 3 = $4,760 - $3,530 = $1230

The next step is to find the discount rate using a financial calculator.

Cash flow for year zero = 0

Cash flow for year one = $-530

Cash flow for year 2 =$-540

Cash flow for year 3 =$1230

Cross over rate = 9.69%

I hope my answer helps you

6 0
3 years ago
A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a partnership,
Kruka [31]

Answer:

False

Explanation:

A sole proprietorship is owned and managed by a single person. The owner is responsible for all the decisions and actions of his or her business. The owner may hire workers to assist in running the business. The workers remain workers and not partners in the business.

The law does not distinguish between the business and the owner. Any liabilities arising from the business are considered to be the owner's liability. In this wedding situation, the sole proprietor is solely responsible for the mistakes of his assistant.

7 0
3 years ago
List three or four effects of financial irresponsibility.
Aleksandr-060686 [28]
Debt
Fraud
being broke
5 0
3 years ago
What is a hypothesis?
yanalaym [24]

The answer is B.

"A hypothesis (plural hypotheses) is a proposed explanation for a phenomenon. For a hypothesis to be a scientific hypothesis, the scientific method requires that one can test it. Scientists generally base scientific hypotheses on previous observations that cannot satisfactorily be explained with the available scientific theories. Even though the words "hypothesis" and "theory" are often used synonymously, a scientific hypothesis is not the same as a scientific theory. A working hypothesis is a provisionally accepted hypothesis proposed for further research, in a process beginning with an educated guess or thought."

"A hypothesis is an assumption, an idea that is proposed for the sake of argument so that it can be tested to see if it might be true."

7 0
3 years ago
On January 1, Year 1, Manning Company granted 97,000 stock options to certain executives. The options are exercisable no sooner
umka21 [38]

Answer:

$77,600

Explanation:

Total value of compensation expenses:

= No. of options granted × Fair of value options

= 97,000 × $4

= $388,000

Compensation expenses should be recognized per year:

= Total value of compensation expenses ÷ Excercisable time

= $388,000 ÷ 3

= $129,333.33

Expenses recognized in year 1 = $129,333.33

Due to unexpected turnover 20% of the options are forfeited,

Annual compensation = $388,000 × 80%

                                     = $310,400

Annual compensation in year 2:

= Accumulated compensation expenses in year 2 - Expenses recognized in year 1

= [$310,400 × (2/3)] - $129,333.33

= $206,933.33 - $129,333.33

= $77,600

4 0
3 years ago
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