What do Rational decision makers use to make economic decisions?

Paula inherits a home on July 1, 2019 that had a basis in the hands of the decedent at death of $290,000 and a fair market value

Airida [17]

Answer:

her recognized gain on the sale of her old principal residence is $193,000 and her basis in the inherited home is $600,000.

Explanation:

Recognized gain on sale of old house

= ($600,000 - $125000) - $30,000 - $2000

= $443,000

Paula's recognized gain = $443,000 - $250,000

= $193,000

Her basis in the inherited home = $500,000 + $100,000

= $600,000

Therefore, her recognized gain on the sale of her old principal residence is $193,000 and her basis in the inherited home is $600,000.

4 0

3 years ago

If investors speculate in derivative contracts rather than the underlying asset, they will probably achieve ________ returns, an

Ede4ka [16]

Answer:

Explanation: do your best and i hope you do good

8 0

2 years ago

When the 4th quarter futa tax is not at least _____, the payment may be mailed at year-end with form 940.

Arisa [49]

When the 4th quarter futa tax is not at least $500, the payment may be mailed at year-end with form 940.

A tax is referred to the amount paid by an individual to the government to contribute to the development of the country through social projects. This tax is laid on different products as a form of duties or charges as well as an amount from the income itself.

FUTA stands for Federal unemployment tax act where you won't need to submit your tax again if your FUTA tax due for the following quarter is $500 or less until the total is $500 or higher.

Learn more about tax, here:

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3 0

1 year ago

Direct labor and indirect labor are recorded, respectively, to:

torisob [31]

Answer:

d. Work in Process Inventory and Factory Overhead.

Explanation:

Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.

Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.

8 0

3 years ago

Read 2 more answers

GS Cookie Co. forecasts cash receipts for January and February of $18,000 and $20,000, with cash payments of $6,000 and $8,000,

Tanzania [10]

Answer:

It can pay 12,000 on January and the 3,00 left infebruary therefore; it will pay all his credit line within this two months.

Explanation:

January February

beginning cash $ 5,000 $ 5,000

receipts $18,000 $ 20,000

disbursement $(6,000) $ (8,000)

subtotal $17,000 $ 17,000

minimun $5,000 $ 5,000

<u>Financing </u>

beginning $15,000 $ 3,000

payment/loan $(12,000) $(3,000)

ending $ 3,000 $-

Ending Cash: $5,000 $14,000

5 0

3 years ago