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puteri [66]
3 years ago
9

Assume that you have a three-year-old daughter and you have come to appreciate the power of saving and investing. Can you open u

p and put money into a Roth IRA in your child's name so that she can benefit from many years of compounding
Business
1 answer:
aliya0001 [1]3 years ago
4 0

Answer:

No.

You cannot open up and put money into a Roth IRA in your child's name.

Explanation:

The IRS allows that any child, regardless of age, can contribute to an IRA if they have earned income.  This means that only a child that has earned income can have an IRA opened for him or her.  As the child is still underage, the IRA must be set up as a custodial account by the parent or another adult. This implies that the child cannot operate the account during the period she is underage but can have money saved in the account from her earned income.

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Exercise 9-1 Classifying liabilities LO C1 The following items appear on the balance sheet of a company with a one year operatin
nignag [31]

Answer:

1. Notes payable (due in 13 to 24 months)  - L

Long term because period of payment is over a year.

2. Notes payable (due in 6 to 11 months).  - C

Current because period of payment is under a year.

3. Notes payable (mature in five years).  - L

Long term because it will mature after a period of a year.

4. Current portion of long-term debt.  - C

Current because it deals with payment for the year.

5. Notes payable (due in 120 days).  - C

Current as it matures in less than a year.

6. FUTA taxes payable  - C

Taxes are for a single period making them current.

7. Accounts receivable  - N

This is an asset not a liability

8. Sales taxes payable.  - C

As this is this for the year, it is current.

9. Salaries payable.  - C

For the period so they are a current liability.

10. Wages payable - C

Concern one period so are a current liability.

7 0
3 years ago
In what way does the kettle falls five case illustrate a weakness of a federal system? choose the best answer.
almond37 [142]

The kettle falls five case illustrate a weakness of a federal system in such a way that f<span>ederalism limits political power and that it depends on compliance of state.</span>
<span>The federal system also aggravates the efficiency in awareness of Policies and its implementation. The kettle falls five case was very surprising.</span>

6 0
3 years ago
Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change
Hatshy [7]

Answer:

Option A                                              

Explanation:

Frictional joblessness is one form of joblessness. This is often referred to as searching insecurity, that can be dependent on specific conditions. When an employee applies for a position or moves from one workplace to another which is time wasted in employment than such condition is called frictional unemployment.

There is frictional instability, since both employers and employees are diverse, and the dynamics of market forces can lead in a shortage. Such a misalignment may be linked to expertise, salary, job time, place, mood, taste, and many other variables.

8 0
3 years ago
The anticipation of the first blooms of spring flowers is one of the joys of april. one of the most beautiful is that of the jap
Inga [223]
<span>on a journey of life discovery, abandoning the way of life that his father would have preferred. Mr Yamada always dreamed that his son would follow in his footsteps and become an expert gardener, but Hiro, to his father's great dismay, had other plans. Little did Mr. Yamada know, his son Hiro's calling was not too different than his father's vision for his son. Hiro's calling and desire to explore all things scientific would eventually lead him to be the greatest agricultural scientist of his time. His discoveries and inventions would allow for, among many other things, the cultivation of the most spectacular cherry tree blossoms ever seen.</span>
5 0
3 years ago
Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten ye
romanna [79]

Answer:

(D) $71,446

Explanation:

we will calcualte the present value for an 11 payments  annuity-due (there is eleven payment of 10,000 if we count the one at purchase date) which couta is 10,000 discounted at 10%

C \times \frac{1-(1+r)^{-time} }{rate} (1 +r ) = PV\\

C 10,000

time 11

rate 0.1

10000 \times \frac{1-(1+0.1)^{-11} }{0.1} (1 + 0.10) = PV\\

PV $71,445.6711

rounding to the nearest dollars: 71,446

6 0
3 years ago
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