Answer:
D) Yes, because the nephew holds a fee simple defeasible.
Explanation:
Since the nephew holds a simple fee defeasible, he can use Blackacre as he pleases as long as he is alive. Since his former wife (Alice) died, then after his death Blackacre will pass to the county hospital, but as long as he is still alive, he can extract gold from Blackacre.
Answer:
Net cash used in financing activities $233,333
Cash disbursed for operating activities $50,000
Explanation:
Based on the information given we were told that the company paid interest amount of $50,000 which as well include an additional amount of $233,333 to retire 1/3 of the bonds at par, which Therefore means that the above activities would be reported in Haven's statement of cash flows for 2020 as: NET CASH USED IN FINANCING ACTIVITIES of the amount of $233,333 and CASH DISBURSED FOR OPERATING ACTIVITIES of the amount of $50,000.
Answer:
Credit to cash $230
Explanation:
Preparation of the Journal entry for the reimbursement of the account of Spencer Co.
Based on the information given we were told that the company spent the amount of $51 for delivery expenses, the amount of $159 for merchandise inventory, and the amount of $20 for miscellaneous expenses from their petty cash fund at the end of the month, which means that the journal entry to record the reimbursement of the account will be:
Dr Delivery expenses $51
Dr Merchandise inventory $159
Dr Miscellaneous expenses $20
Cr Cash $230
(To record petty cash reimbursement)
