Whole life policies provide “guaranteed” cash value accounts that grow according to a formula the insurance company determines. Universal life policies accumulate cash value based on current interest rates. Variable life policies invest funds in subaccounts, which operate like mutual funds.
Answer:
Rita's basis in her partnership interest is $35000
Explanation:
given data
cash = $10,000
fair market value = $150,000
adjusted basis = $55,000
liability = $60,000
to find out
Rita's basis in her partnership interest
solution
we know both Rita and Gerry half of total liability
we get here 50% share on debt that is
50% share on debt = 50% × liability
50% share on debt = 0.50 × $60,000
50% share on debt = $30000
so basis on interest is here as
basis on interest = cash + adjusted basis - 50% share on debt
basis on interest = $10000 + $55000 - $30000
basis on interest = $35000
<span>Incentives act as a catalyst in providing
people hope and motivation that could lead them either in a better or worse state.
Those who are in the position to implement laws must put into mind these incentives
as these help them to change their people to work harder economically. Policymakers
must plan how to provide incentives to all people regardless of race, sex,
gender and occupation so that biased decisions with regard to this extra profit
will be received by all. But giving these often might predispose people to just
rely on it and the quality of service might be put at stake. So offering incentives
must be properly studied and monitored by those who will provide it, the policymakers. </span>
Answer:
A 2-column table with 4 rows. Column 1 is labeled Assets with entries car, home, savings bond, stocks. Column 2 is labeled Liabilities with entries leased car, mortgaged home, credit card debt, tax bill.
Explanation:
An asset is a valuable item that a person or a corporation owns. An asset has an economic or monetary value attached to it. It is a resource used in generating future benefits, save costs, or produce goods and services. From the list provided, a car, home, savings bond, stocks represent assets.
Liabilities are things or money owed. They are debts or obligations to be met. A mortgage is a debt; hence it is a liability. A leased car belongs to someone else and presents an obligation to pay, making it a liability. The tax bill is a debt.
Answer: See explanation
Explanation:
The year-end adjusting entry to record the cost side of sales returns and allowances will be:
Dr Inventory Return estimated $3200
Cr Cost of goods sold $3200
(To record expected coat of returns)
Note that the above calculation was done as:
= $64,000 × 5%
= $64,000 × 0.05
= $3200
