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anygoal [31]
3 years ago
11

Olive Maccones dies without a will. She has three sons and seven grandchildren. She owned a substantial amount of property. What

happens to the property
Business
1 answer:
navik [9.2K]3 years ago
6 0

Answer:

The property will be transferred according to the Statute of Descent and Distribution.

Explanation:

Intestacy is the situation where a person dies without leaving a will for the sharing of his estate.

When this happens the descent and distribution statute comes into play.

The heirs or next of kin are beneficiaries to the estate. Heirs can be be blood relatives, adopted children, adopted parent, or surviving spouse.

The line of descent is the order of beneficiaries that are from an ancestor. The line of descent can be direct such as sons, or collateral such as cousins.

In this case where Olive Maccones dies without a will and she has three sons and seven grandchildren, her estate will be distributed by a court based on the line of descent of her sons and grandchildren.

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And they allow you to buy houses and cars and qualify for things for cheaper...if you have the better credit you're going to get the house because you show you're responsible with your money.
8 0
3 years ago
Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: (If an amou
lakkis [162]

Answer:

Journal entries

Explanation:

a. Cash $25,000

            To Sales $25,000

(Being the sale is recorded)

Costs of Goods Sold $17,500

          To  Inventory $17,500

(Being the cost is recorded)

B.  Accounts Receivable $98,000

             To  Sales $98,000

(Being the sales is recorded)

Costs of Goods Sold $58,800

           To inventory $58,800

(Being the cost is recorded)

C.   Accounts Receivable $475,000

             To  Sales $475,000

(Being the sales is recorded)

Costs of Goods Sold $280,000

           To inventory $280,000

(Being the cost is recorded)

D.  Accounts Receivable $63,000

             To  Sales $63,000

(Being the sales is recorded)

Costs of Goods Sold $39,000

           To inventory $39,000

(Being the cost is recorded)

E.  Cash $524,550

    Credit card Expense $13,450

               To Accounts Receivable $538,000

(Being the cash is recorded)

 Sales $661,000

            To Income Summary $661,000

(Being the closing is recorded)

Income summary $408,750

         To Costs of Goods Sold $ 395,300

          To Credit Card Expense $ 13,450

(Being the credit card expense and the cost of goods sold closing is recorded)

Income Summary $252,250

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(Being the transfer is recorded)

5 0
3 years ago
Which of the following accurately describes
Setler [38]

Answer:

What accurately describes Shareholder's Equity is all of the above, because it's all just simplified/different terms for investment in one another company's business :3

Explanation:

:3

6 0
3 years ago
When hale appears at the proctors' door in act ii of the crucible, he is described as "different now—drawn a little, and there i
Oxana [17]
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4 0
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Consecutive refers to matters that are arranged or show up in sequential order. A criminal who serves a consecutive sentence does time for one conviction after any other.

Consecutive periods of time or events take place one after the other without interruption. The Cup was won for the third consecutive yr via the Toronto Maple Leafs. Synonyms: successive, strolling, following, succeeding extra Synonyms of consecutive.

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Learn more about consecutive here: brainly.com/question/21466038

#SPJ4

4 0
1 year ago
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