Answer:
The amount of life insurance is $259700
Explanation:
Easy method for calculating amount of life insurance is a method for families with both spouses working, in good health, with average debt, and not more than three children. It gives an estimate of 7 years of income at 70%. Using easy method, the formula is given as:
life insurance requirement = Annual income × 7 years × 70%
Given that Annual income = $53000
amount of life insurance = $53000 × 7 years × 70% = $259700
Answer: $10.49
Explanation:
Net Asset Value is the equity of the portfolio divided by the number of shares outstanding.
Equity = Assets - Liabilities
So,
Net Asset Value = (Assets - Liabilities) / No. of shares outstanding
Assets = (200,000 * 35) + (300,000 * 40) + (400,000 * 20) + (600,000 * 25)
= $42,000,000
Liabilities will be the accrued management fee.
Net Asset Value = (42,000,000 - 30,000) / 4,000,000
= 10.4925
= $10.49
Answer:
$406,300
Explanation:
The computation of the cash collection is shown below:
Cash Collected From Customers is
= Ending account receivable +Revenue For the Year - opening account receivable
= $31,400 + $411,000 - $36,100
= $406,300
Answer:
a requirements contract.
Explanation:
A requirements contract is made between a company and one of its suppliers or vendors. In that contract, the supplier or vendor agrees to supply a certain amount of goods or services that the company requires, in exchange the company will only purchase the goods or services from that specific supplier or vendor.
Answer:
c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.
Explanation:
The doctrine of <em>innocent spouse relief</em> might apply here. Mrs. Jones will have to prove that:
- the income that was omitted was earned by her husband, not her.
- she must prove that when she signed the tax filings, she was not aware of the omission.
- after examining all the facts surrounding the omission, the IRS must decide that blaming her would not be fair.
