Answer:
b)
i) Subtotal the income shown on lines 1 through 8 of Form 1041 and add the tax-exempt income from line 1 in “Other Information” on the back of the return to arrive at total income.
Total Income = Taxable income + Non-taxable income
= $50000 + $30000
= $80000
ii) Divide the total income by the total taxable income and multiply the results by the total fiduciary fees.
= ($80000/$50000)*8000
=$12800
iii) Take the deductible fees on line 12 and subtract the balance from the total tax-exempt income to arrive at the adjusted tax-exempt income.
= $30000 - ($12800-8000)
= $25200
Subtotal the income shown on lines 1 through 8 of Form 1041 and add the tax-exempt income from line 1 in “Other Information” on the back of the return to arrive at total income.
Divide the total income by the total taxable income and multiply the results by the total fiduciary fees.
Take the deductible fees on line 12 and subtract the balance from the total tax-exempt income to arrive at the adjusted tax-exempt income.
Place that number on Schedule B, line 2.
Explanation:
Answer:
Yield to call is 9.8%
Explanation:
The rate of return bonholders receives on a callable bond until the call date is called Yield to call.
Yield to Call = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
C = Coupon Payment = $105 per year
F = Face value = $1,000
P = Call price = $1,100
n -= number of years to call = 5
Yield to Call = [ $105 + ( $1,000 - $1,100 ) / 5 ] / [ ( $1,000 + $1,100 ) / 2 ]
Yield to Call = [ $105 - 2 ] / $1,050 = $103 / $1,050 = 0.098 = 9.8%
Answer:
Explanation:
Dividends through year 1 to 5:
D1 = 2.15*(1+0.30)^1 = 2.80
D2 = 2.15*(1+0.30)^2 = 3.63
D3 = 2.15*(1+0.30)^2 * (1+0.18)^1 = 4.29
D4 = 2.15*(1+0.30)^2 * (1+0.18)^2 = 8.58
D5 = 2.15*(1+0.30)^2 * (1+0.18)^3 = 12.86
PV (D1) = 2.80
PV (D2) = 3.63 *PVIF = 3.63 * 0.87719 = 3.19
PV (D3) = 4.29 * 0.76947 = 3.30
PV (D4) = 8.58 * 0.67497 = 5.79
PV (D5) = 12.86 * 0.59208 = 7.62
Total of all PV's = 22.69
Answer:
a. Karen Meyer's personal records
c. American red cross
Explanation:
The $6,000 contribution should be recorded in Karen Meyer's personal records because 1) the donation was made on her personal name 2) a donation of such size is relevant when Karen files her taxes.
The contribution should also be recorded in the American red cross records because the organization needs to clarify to the tax authorities where each sum of money it obtains comes from.
Answer:
Title 1 is "careers" and title 2 is "jobs"
Explanation:
