Answer:
in order for Henry's child to qualify as a dependent, the following requisites must be met:
- since the child is disabled, there is no age limit, but he/she must live with Henry and Henry must pay for at least half of his/her expenses
- the disability must be permanent and total (a letter from a doctor, social service worker, or social service agency that provides proof of this is required
- the child must be Henry's son or daughter, or legally adopted child
- Henry must have earned income (i.e. Henry must work)
- Henry's investment income (besides earned income) must be less than $3,650 during the last year
- Henry must file as single filer or head of household
- Henry must not have received foreign income
Answer:
500 divided by 2/3 = 500 * 3/2= 750
Explanation:
You have to interchange the fraction 2/3. The denominator becomes the numerator and vice versa.
2/3 becomes 3/2
500 divided by 2/3 = 500 * 3/2
500 divided by 2/3 = 750
500* 3/2 is the same as 500 x 1.5 = 750
Answer:
Business is an organization where goods and services are exchanged for one another or for money to make a profit, every business needs some form of investment and enough customers to sell product to.
the major characteristics are:
1. Exchange of goods and services
2. Deals in numerous transactions
3. Profit is the main objective
4. Business skills for economic success
5. risks and uncertainties
6. marketing and Distribution of goods
7. Sale to satisfy human wants
Explanation:
Answer:
B. the cash that a firm generates from its normal business activities using its existing assets
Explanation:
It represent the cash from the main activity. It is a good indicator wether the company needs external financing or it can sustain his grow with own funds.
It is stated in the cash flow statement. along with investing and financing activities.
Answer:
1.Quinlan distribution has realized a loss of
$214,480 of which $0 is recognized.
2. The shareholder received property with a basis of $321,720
Explanation:
1.
When property is been said to be distributed to shareholders the amount of dividend equal to the fair value of the said property which is $321,720 on the date of the distribution. Therefore the amount of taxable dividend is $321,720 which is before the dividends received deduction.
Therefore;
Net loss which shall not be allowed ($536,200-$321,720)
=$214,480
Quinlan distribution has realized a loss of
$214,480 which is not allowed to be recognized
2. Adjusted basis of the property distributed is $321,720
