Answer:
a) $200,000 to Jack
Explanation:
Data provided in the question
Life insurance policy amount of Marilyn Simms = $200,000
The primary beneficiary = Jack
The contingent beneficiaries = Their children
Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,
So, the whole amount i.e $200,000 is distributed to Jack
Answer:
B)
Explanation:
Rachel must report $10,000 of LTCG on her tax return. (Long-term capital gains)
Answer: C. A purchase order
Explanation:
I’m right
Answer:
Provider Service Type Prices Starting At*
Suddenlink Cable $30.00/mo.
DIRECTV Satellite $74.99/mo.
DISH Satellite $64.99/mo.
Grande Communications Cable $54.94/mo.
Explanation:
Provider Service Type Prices Starting At*
Suddenlink Cable $30.00/mo.
DIRECTV Satellite $74.99/mo.
DISH Satellite $64.99/mo.
Grande Communications Cable $54.94/mo.
Answer:
Dr Accounts payable-Misner co $150,000
Cr notes payable $150,000
On maturity date:
Dr notes payable $150,000
Dr interest expense $75
Cr cash $150,750
Explanation:
On the date of issuance,the $150,000 being the face value of the note is debited to accounts payable account of Misner Co in the books of accounts of the issuing company and credited to notes payable account
On the date of maturity of the notes,interest of $750 is due($150,000*6%*30/360).
The accounting entries on maturity of the notes payable is to debit the notes payable account with $150,000 as well as the interest expense account with $750 and the total of $150,750 ($150,000+$75) is credited to cash.