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Nina [5.8K]
3 years ago
10

Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, wh

o then indorses it to Nat, the present holder. Suppose that Mona pays Nat on the note. With timely notice to the proper parties, Mona may collect payment on the note from:
Business
1 answer:
STatiana [176]3 years ago
7 0

Answer:

a. Jake, Kim, or Lou.

Explanation:

A promissory note is a note that should be signed with written promise in terms of paying some specific amount to the note owner on a specifiic date or on demand.

Since in the question it is mentioned that Jake who is a maker and pay to Kim and then it would endorse to Lou

So here the Mona should collect the payment from the above three parties

hence, the correct option is A.

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Helen spent the last 85 days of 2020 in a nursing home. The cost of the services provided to her was $27,625 ($325 per day). Med
Vsevolod [243]

Answer:

Amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

Explanation:

Data Given:

Number of Days Helen Spent = 85 days

Cost of the services = $27,625

Medicare Paid = $8400

Benefits received = $15440

Assumption: Federal Daily Excludible amount = $380

Solution:

Daily Statutory  amount = Daily Excludible amount x number days spent

Daily Statutory  amount =  $380 x 85 days

Daily Statutory  amount = $32300

We know that,

Amount of Medicare Paid = $8400

So, now we need to calculate the amount of exclusion first.

1. Amount of Exclusion = cost of the services - Medicare paid

Amount of Exclusion = $27625 - $8400 = $19225

So, now we calculate the amount included into the gross income of Helen.

2. Amount included in gross income = Benefits Received - Amount of Exclusion

Amount included in gross income =  $15440 - $19225

Amount included in gross income = -$3785

Here, we will not cater the negative, which means that amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

5 0
3 years ago
Tony is a 45-year-old self-employed psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he ca
Natali5045456 [20]

Answer:

Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he can contribute to his SEP for the year? 300,000x.25= 75,000 or $57,000

$57,000

Explanation:

6 0
2 years ago
A 2-year bond with par value $1,000 making annual coupon payments of $106 is priced at $1,000. a. What is the yield to maturity
shutvik [7]

Answer:

Explanation:

Face value = 1000

market price = 1000

annual yield = 106

yield to maturity = (106/1000) x 100

= 10.6 % .

8 0
3 years ago
Secret Trails received payment in full within the credit period for horse boarding for $1,300 plus 4% sales tax. Terms of the sa
riadik2000 [5.3K]

The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

<h3>Journal entry</h3>

Based on the information given the correct entry to record this transaction is:

Debit Cash $1313

{$1300+[($1300×4%)-($1300×3%)]}

[$1300+($52-$39)]

Debit Sales Discount $39

($1300×3%)

Credit Accounts Receivable $1352

[$1300 + ($1300×4%)]

Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

Learn more about journal entry here:brainly.com/question/9701045

7 0
2 years ago
Which of the following statements is the most accurate?Consumers don't remember good advertisements.Advertising does not really
Alik [6]

Answer:

The correct answer is that the Advertising helps in paying for the production cost of the magazines and the newspapers.

Explanation:

Advertising is the source through which the company or the firm promote the product or a service of their business, so that the customers could be make aware of the products and the services offered by the firms.

And one of the benefits or the advantage provided by advertising that the money from advertisers help in paying the production cost of the magazines and the newspapers.

5 0
3 years ago
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