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lesantik [10]
3 years ago
13

Grandma and Grandpa Generous had many children, but they have only one grandchild,Harold. Grandma and Grandpa would like to give

him a gift of $5.43 million. Upon the transfer to Harold, for which taxes will Grandma and Grandpa Generoushave a current liability? Assume Grandma and Grandpa have exhausted their lifetime gifttax exemption
Business
1 answer:
Leni [432]3 years ago
8 0

Answer:

Gift Tax GSTT

Explanation:

In such a scenario, Grandma and Grandpa Generoushave a current liability to the Gift Tax GSTT. This tax rate applies to Grandma and Grandpa Generous because the gift exceeds the limit per individual for gifting and because they have exhausted their lifetime gift-tax exemption. Meaning that they have to pay taxes on this gift of $5.43 million which according to the GSTT guidelines is a fixed rate of 40% of the gift that was given.

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Swinnerton Clothing Company's balance sheet showed total current assets of $3,300, all of which were required in operations. Its
Zanzabum

Answer:

c. $2,580

Explanation:

Calculation for What was its net operating working capital that was financed by investors

Current assets $3,300

Less Accounts payable ($575)

Less Accrued wages and taxes ($145)

Net operating working capital $2,580

($3,300-$575-$145)

Therefore What was its net operating working capital that was financed by investors will be $2,580

7 0
3 years ago
The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 8 percent to help finance a new playground fa
NeTakaya

Answer:

10%

Explanation:

Given that,

Interest at last year debt = 8%

Current year cost of debt = 25% higher

Firms paid for debt last year = 10%

Firms paid for debt in current year = 12.50%

Kd - cost of debt

Yield = Interest at last year debt × (1 + increase in cost of debt)

         = 8% × (1 + 0.25)

         = 8% × 1.25

         = 10%

Kd = Yield (1 – T)

Kd = 10% (1 – 0)

     = 10% (1)

     = 10%

Therefore, after tax cost of debt would be 10%.

8 0
3 years ago
According to your textbook, the following passage from a speech introduction is an example of a(n) __________ . Today I would li
inysia [295]

Answer:

The answer is: this is an example of a preview statement

Explanation:

Preview statements are used to present the main topics of your speech. As a speaker you should not only introduce your main topics to your audience, you must be able to capture your audience's attention. Usually the preview statement is the second thing you say during a speech, the first should be a general greeting, so it is very critical that your audience understands how you are going to cover your main topics and in what order.

5 0
3 years ago
Suppose changes in autonomous consumption affect investment while changes in autonomous government spending do not. in this case
Charra [1.4K]
 in this case, identical changes in autonomous consumption and autonomous government spending: <span> have different effects on equilibrium income

When a factor is implemented and have two different reaction, it is safe to assume that that factor have two different effects.
For example, an increasing interest in technology(autonomous consumption) may increased the investment for tech products. The government spending may not give as much influence in this context because it wont affect the transaction between the customers and the producer
</span>
8 0
3 years ago
The executives of well-established airlines are notless smart than those at JetBlue, and yet, theirlarger airlines have not done
MaRussiya [10]

Answer:

JetBlue was able to invest in new technology Airlines which has helped to boost its efficiency and overall performance,but the older have to do away with their old styles ''legacies''

Explanation: Advancement in technology has actually helped organisations especially the new entrants to perform exceeding better than the older once, like the case of JetBlue, it is a ''Late mover'' which means it entered the market later making it and started to spend on modern technology Airlines which has helped to boost its overall outputs. It also does not have any issues on the immediate which must have affected the older Airlines.

4 0
3 years ago
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