<span>When one is on probation for violating the law, all of the following are correct. They must report to the probation officer to ensure they are still being lawful and to address any concerns they are having, they must hold a steady job to ensure they are being a contributing member of society, and they may have to pay fines or restitution based on what their violation was.</span>
Answer:
A. $140,000
B. $45,000
Explanation:
a. Calculation to determine How much income from BV must Burgundy report for its tax year ending April 30, 2015
Using this formula
Income from BV=Annual guaranteed payment+(BV's taxable income*50% Distributive share of the partnership)
Let plug in the formula
Income from BV=$100,000+($80,000*50%)
Income from BV=$100,000+$40,000
Income from BV=$140,000
Therefore The Amount of income from BV that Burgundy must report for its tax year ending April 30, 2015 is $140,000.
B. Calculation to determine How much income from BV must Violet report for her tax year ending December 31, 2015
Using this formula
Income from BV=(BV's taxable income*50% Distributive share of the partnership)
Let plug in the formula
Income from BV=($90,000*50%)
Income from BV=$45,000
Therefore The Amount of income from BV that Burgundy must report for its tax year ending December 31, 2015 is $45,000.
Answer:
D) the speakers only
Explanation:
UCC rules state that contracts sales or lease contracts must be in writing only when:
- the contract for the sale of goods must be worth at least $500 (only the speakers cost more than $500)
- leasing contracts worth at east $1,000
*If the parties involved are merchants, this rules might vary.
Answer: Credit
When a person who will give out a loan such as an auto loan sees a bankruptcy on a person’s record, it makes them think that the person is irresponsible or at least not competent in their financial abilities.
