1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yawa3891 [41]
3 years ago
10

Billy-Bob owns a condo in Seattle, and a farm in Yakima. His older brother, Bobby-Lee, has some severe health problems and is un

able to work anymore, and just has Social Security Disability income of about $800/month. Billy-Bob records a deed giving a "life estate" to Bobby-Lee as long as he lives, with the "remainder" to go to Billy-Bob’s sister, Judy. A. Bobby-Lee now owns the "fee simple" title to the property, as long as he lives. B. Once Bobby-Lee dies, Judy will own the "fee simple" title to the property. C. No one will own the "fee simple" title to the property.
Business
1 answer:
Eduardwww [97]3 years ago
6 0

Answer: B. Once Bobby-Lee dies, Judy will own the "fee simple" title to the property.

Explanation:

In the Life Estate arrangement, a person is granted use and ownership of a property for as long as they are alive. When they die however, if a Remainder also known as <em>Remainder- man</em> is named, then the property rights transfer to the Remainder- man.

The Remainder-man then gets access to the property and owns in to the highest extent of the law which in common law countries such as the United States, is the Fee Simple title ownership. This gives them the right to basically do what they want with the property.

Bobby-Lee therefore gets the rights to the property but once he dies, his sister Judy will own a <em>fee simple</em> title to the property.

You might be interested in
Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for th
kompoz [17]
What are you suppose to here ?
4 0
3 years ago
Assume that Hotel Excellent uses activity-based costing to allocate hotel overhead to guests. In Hotel Excellent, if the budgete
Lyrx [107]

Answer:

c. $33.33 per housekeeping hour

Explanation:

The housekeeping department's activity rate is how much each housekeeping hour costs.

This question can be solved by a simple rule of three.

27000 hours cost $900000. How much does 1 hour cost?

27,000 hours - $900,000.

1 hour - $x.

27000x = 900000

x = \frac{900000}{27000}

x = 33.33

So the correct answer is:

c. $33.33 per housekeeping hour

5 0
3 years ago
Arrange the steps to show the effects of contractionary fiscal policy. Tiles Inflationary pressure decreases. Government increas
lana [24]
<span>Government increases the tax rate.
Consumers have less money to spend.
</span>Producers manufacture fewer goods.
Inflationary pressure decreases.<span>

</span>
7 0
3 years ago
Read 2 more answers
nder the general transfer pricing rule with excess capacity, the opportunity cost would be equal: Multiple Choice zero. the dire
Thepotemich [5.8K]

Answer:

ZERO.

Explanation:

A transfer price normally is used to determine the cost to charge another division, subsidiary, or holding company for services rendered. It is said that transfer prices are priced based on the going market price for that good or service. Transfer pricing can also be applied to intellectual property such as research, patents, and royalties.

However, companies at times can also use (or misuse) this practice by altering their taxable income, thus reducing their overall taxes. The transfer pricing mechanism is a way that companies can shift tax liabilities to low-cost tax jurisdictions.

3 0
3 years ago
Read 2 more answers
Daniels Transport has operating income of $68,200, interest expense of $210, dividends paid of $320, depreciation of $12,400, ot
Kisachek [45]

Answer:

Option (a) is correct.

Explanation:

Given that,

Operating income = $68,200

Interest expense = $210

Dividends paid = $320

Depreciation = $12,400

Other income = $2,100

common stock = $48,500 with a par value of $1 per share

Retained earnings = $29,700

Income before taxes:

= Operating income - Interest expense + Other income

= $68,200 - $210 + $2,100

= $70,090

Net income:

= Income before taxes - Taxes at 21%

= $70,090 - ($70,090 × 21%)

= $70,090 - $14,719

= $55,371

Shares of common stock outstanding:

= Common stock ÷ Par value per share

= $48,500 ÷ $1

= 48,500 shares

Earnings per share:

= (Net income - Preferred dividend) ÷ Shares of common stock outstanding = ($55,371 - 0) ÷ 48,500

= $1.14 per share

Therefore, the earnings per share if the tax rate is 21 percent is $1.14.

3 0
3 years ago
Other questions:
  • Sean works for Cash'n'Carry, a payday loan company. He has been asked to develop an ethical mission statement to reassure custom
    5·1 answer
  • Weaver Chocolate Co. expects to earn $3.50 per share during the current year, its expected dividend payout ratio is 65%, its exp
    9·1 answer
  • ABC Mechanics charges an estimate fee of $100 plus $40 per hour, x, in labor. XYZ Mechanics charges an estimate fee of $65 plus
    13·1 answer
  • Hypothetical Country has $120 in currency, $280 in reserves, and $900 in deposits. There are no excess reserves. Use this inform
    10·1 answer
  • To generate higher profit margins, producers must work to
    11·2 answers
  • Keynesian theory is based on the concept that saving and consumption are influenced primarily by real current disposable income.
    6·1 answer
  • Do you think that you could successfully negotiate a fair price for a car? If yes,
    11·2 answers
  • Mr. Smith's house was listed at $325,000. The property eventually sold for $365,000. The agreed upon commission was 5%. How much
    15·1 answer
  • In the United States, what is the average age range of CEOs?
    13·1 answer
  • Question: You have recently been appointed as a marketing manager for a marketing consultancy firm, and you have been asked to c
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!