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anastassius [24]
3 years ago
6

Trust incurred $10,000 of portfolio income. Its corporate trustee paid fiduciary fees of $1,000 therefrom, and also paid $1,000

in premiums for a life insurance policy on Marcia, the grantor of the trust. How much gross income does Marcia include with respect to these trust activities?
A) $800.
B) $1,000.
C) $8,000.
D) $9,000.
E) $10,000.
Business
1 answer:
Dima020 [189]3 years ago
4 0

Answer:

$1,000

Explanation:

Based on the information given the

GROSS INCOME amount that Marcia will include with respect to these trust activities will be the amount of $1,000 because we were told that the amount of $1,000 was paid in premiums for a LIFE INSURANCE POLICY ON MARCIA who is the GRANTOR OF THE TRUST, although The trust is not categorized as a grantor trust reason been that the TRUSTEE was authourized to pay the life insurance premiums

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During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value
MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500

I hope my answer helps you

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3 years ago
Name at least four consumer rights.Does a homeowner's insurance policy cover the damage done from a house fire?
Sonbull [250]

Answer:

always,

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Murphy's, Inc., has 85,000 shares of stock outstanding with a par value of $1 per share. The market value is $12 per share. The
nexus9112 [7]

Answer:

The correct answer is $177,955.

Explanation:

According to the scenario, the computation of the given data are as follows:

Capital in excess of par account = $74,500

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So, we can calculate the balance in the capital in excess of par account be after the dividend by using following formula:

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8 0
3 years ago
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