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e-lub [12.9K]
3 years ago
6

Sam Malloy owns a small business and has built a substantial estate both with his business success and his early career as a pro

athlete. He wants to set up his estate in a way that he will control the assets until he passes away or becomes incapacitated. Once that time comes, he wants control to transfer easily and he wants to avoid probate. Sam should
Business
1 answer:
zvonat [6]3 years ago
4 0

Answer: Establish a revocable living trust.

Explanation:

A revocable living trust is a written document that details how an individual assets would be handled after they die. They are used to avoid probate and protect privacy of the trust owner, beneficiary of trust and reduce estate taxes. Assets placed in the beneficiary name are transfered from the owners account or details to theirs.

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Park & Company was recently formed with a $6,200 investment in the company by stockholders in exchange for common stock. The
KengaRu [80]

Answer:

a) $14,600.

Explanation:

The computation of the company total assets are shown below:

= Cash balance + supplies balance + equipment balance

where,

Cash balance =  investment amount + borrowed amount - paid amount for equipment

= $6,200 + $3,200 - $2,120

= $7,280

And, the other item values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $7,280 + $1,120 + $6,200

= $14,600

4 0
3 years ago
Like-kind property is real property held for investment or use in a trade or business exchanged for real property held for inves
lubasha [3.4K]

Answer:

True

Explanation:

Like-kind property is real property held for investment or use in a trade or business exchanged for real property held for investment or use in a trade or business.

However, Taxpayers must defer gain or loss realized on the exchange of like-kind property.

6 0
3 years ago
According to virginia satir, the single factor determining the kinds of relationships we make with others is
Lilit [14]

According to Virginia Satir, communication is <span>the single factor determining the kinds of relationships we make with others.

</span><span>Virginia Satir was an American author and social worker, known especially for her approach to family therapy and her work with family reconstruction.</span>

3 0
3 years ago
The Blumer Company entered into the following transactions during 2012: 1. The company was started with $22,000 of common stock
ahrayia [7]
Where is the question?
8 0
3 years ago
Social security and medicare are?
mart [117]

Answer:

I believe it is progressive taxes.

Explanation:

Taxes under the Federal Insurance Contributions Act (FICA) are composed of the old-age, survivors, and disability insurance taxes, also known as social security taxes, and the hospital insurance tax, also known as Medicare taxes.

3 0
3 years ago
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